Aramark (NYSE:ARMK) Stock Price Expected to Rise, Truist Financial Analyst Says

Aramark (NYSE:ARMK) had its target price increased by analysts at Truist Financial from $42.00 to $46.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price target points to a potential upside of 20.83% from the company’s previous close.

ARMK has been the topic of a number of other research reports. Robert W. Baird upped their price target on shares of Aramark from $38.00 to $44.00 and gave the stock a “neutral” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft raised Aramark from a “hold” rating to a “buy” rating and upped their price target for the company from $36.00 to $39.00 in a report on Wednesday, August 7th. Royal Bank of Canada upgraded Aramark from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $36.00 to $42.50 in a research note on Tuesday, September 17th. The Goldman Sachs Group upped their price objective on Aramark from $38.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Bank of America upped their price target on shares of Aramark from $36.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Aramark presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.95.

Aramark Stock Down 1.6 %

Aramark stock traded down $0.61 on Tuesday, hitting $38.07. 633,451 shares of the stock traded hands, compared to its average volume of 2,213,254. Aramark has a 1 year low of $25.92 and a 1 year high of $42.04. The firm has a market cap of $10.03 billion, a P/E ratio of 38.40 and a beta of 1.62. The company has a current ratio of 0.96, a quick ratio of 0.86 and a debt-to-equity ratio of 1.71. The business’s fifty day simple moving average is $38.15 and its 200 day simple moving average is $35.10.

Aramark (NYSE:ARMK) last announced its quarterly earnings data on Monday, November 11th. The company reported $0.54 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.54. Aramark had a net margin of 1.93% and a return on equity of 14.09%. The business had revenue of $4.42 billion for the quarter, compared to analysts’ expectations of $4.46 billion. During the same quarter in the prior year, the company earned $0.64 earnings per share. The business’s revenue was up 5.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Aramark will post 1.55 earnings per share for the current year.

Institutional Trading of Aramark

Institutional investors have recently made changes to their positions in the company. Blue Trust Inc. increased its position in Aramark by 173.9% during the third quarter. Blue Trust Inc. now owns 5,697 shares of the company’s stock worth $221,000 after purchasing an additional 3,617 shares during the last quarter. Leeward Investments LLC MA purchased a new position in Aramark in the second quarter worth approximately $9,263,000. Public Employees Retirement Association of Colorado raised its position in Aramark by 19.1% in the first quarter. Public Employees Retirement Association of Colorado now owns 810,174 shares of the company’s stock valued at $26,347,000 after purchasing an additional 129,939 shares during the period. Asset Management One Co. Ltd. lifted its stake in shares of Aramark by 63.6% in the 3rd quarter. Asset Management One Co. Ltd. now owns 140,432 shares of the company’s stock valued at $5,439,000 after purchasing an additional 54,580 shares during the last quarter. Finally, Comerica Bank lifted its stake in shares of Aramark by 14.9% in the 1st quarter. Comerica Bank now owns 126,658 shares of the company’s stock valued at $4,119,000 after purchasing an additional 16,423 shares during the last quarter.

Aramark Company Profile

Aramark provides food and facilities services to education, healthcare, business and industry, sports, leisure, and corrections clients in the United States and internationally. It operates through two segments, Food and Support Services United States, and Food and Support Services International. The company offers food-related managed services, including dining, catering, food service management, and convenience-oriented retail services; non-clinical food and food-related support services, such as patient food and nutrition, retail food, environmental services, and procurement services; and plant operations and maintenance, custodial/housekeeping, energy management, grounds keeping, and capital project management services.