Aramark (NYSE:ARMK) PT Raised to $36.00

Aramark (NYSE:ARMK) had its target price lifted by equities research analysts at Royal Bank of Canada from $33.00 to $36.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price points to a potential upside of 5.70% from the stock’s previous close.

A number of other equities research analysts have also commented on the company. Robert W. Baird upped their price target on Aramark from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday. UBS Group upped their target price on Aramark from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, June 21st. Oppenheimer upped their target price on Aramark from $36.00 to $39.00 and gave the company an “outperform” rating in a research report on Wednesday, June 12th. Finally, Deutsche Bank Aktiengesellschaft upgraded Aramark from a “hold” rating to a “buy” rating and upped their target price for the company from $36.00 to $39.00 in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $35.43.

Aramark Price Performance

Shares of ARMK traded up $0.84 during midday trading on Wednesday, hitting $34.06. The company’s stock had a trading volume of 844,659 shares, compared to its average volume of 2,322,102. Aramark has a one year low of $23.95 and a one year high of $35.23. The company’s fifty day simple moving average is $33.21 and its two-hundred day simple moving average is $31.96. The company has a quick ratio of 1.11, a current ratio of 1.25 and a debt-to-equity ratio of 2.03. The stock has a market capitalization of $8.96 billion, a price-to-earnings ratio of 14.41, a price-to-earnings-growth ratio of 1.77 and a beta of 1.59.

Aramark (NYSE:ARMK) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. The business had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.31 billion. Aramark had a return on equity of 13.82% and a net margin of 3.43%. Aramark’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 EPS. As a group, equities analysts expect that Aramark will post 1.57 earnings per share for the current fiscal year.

Institutional Trading of Aramark

Several institutional investors and hedge funds have recently modified their holdings of ARMK. New York State Teachers Retirement System grew its holdings in shares of Aramark by 24.1% in the fourth quarter. New York State Teachers Retirement System now owns 141,849 shares of the company’s stock valued at $3,986,000 after acquiring an additional 27,522 shares in the last quarter. Artisan Partners Limited Partnership grew its holdings in Aramark by 9.3% during the fourth quarter. Artisan Partners Limited Partnership now owns 391,727 shares of the company’s stock valued at $11,008,000 after purchasing an additional 33,206 shares during the period. Bank of Nova Scotia grew its holdings in Aramark by 84.7% during the fourth quarter. Bank of Nova Scotia now owns 1,192,142 shares of the company’s stock valued at $33,498,000 after purchasing an additional 546,796 shares during the period. SG Americas Securities LLC grew its holdings in Aramark by 131.8% during the first quarter. SG Americas Securities LLC now owns 97,167 shares of the company’s stock valued at $3,160,000 after purchasing an additional 55,249 shares during the period. Finally, Public Sector Pension Investment Board bought a new position in Aramark during the fourth quarter valued at $75,477,000.

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.