Aramark (NYSE:ARMK) Price Target Raised to $37.00

Aramark (NYSE:ARMK) had its price objective hoisted by equities researchers at Robert W. Baird from $35.00 to $37.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s price target points to a potential upside of 20.33% from the company’s current price.

Other research analysts have also recently issued research reports about the company. Truist Financial raised their target price on Aramark from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Morgan Stanley raised their price objective on shares of Aramark from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 7th. The Goldman Sachs Group began coverage on shares of Aramark in a research note on Wednesday, January 17th. They issued a “buy” rating and a $33.00 price objective on the stock. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $33.00 target price on shares of Aramark in a report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $33.32.

Aramark Trading Down 2.8 %

Aramark stock opened at $30.75 on Wednesday. Aramark has a 12-month low of $23.95 and a 12-month high of $33.04. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.27 and a quick ratio of 1.12. The stock has a market capitalization of $8.07 billion, a PE ratio of 12.87, a price-to-earnings-growth ratio of 1.24 and a beta of 1.47. The firm has a 50 day simple moving average of $31.64 and a 200-day simple moving average of $29.54.

Aramark (NYSE:ARMK) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.05. Aramark had a return on equity of 13.45% and a net margin of 3.37%. The firm had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same period last year, the company posted $0.41 EPS. The firm’s quarterly revenue was up 12.6% on a year-over-year basis. As a group, equities research analysts expect that Aramark will post 1.56 EPS for the current fiscal year.

Hedge Funds Weigh In On Aramark

A number of large investors have recently made changes to their positions in the business. Rise Advisors LLC purchased a new stake in shares of Aramark during the first quarter worth $25,000. Benjamin F. Edwards & Company Inc. bought a new stake in Aramark in the fourth quarter worth approximately $28,000. Scarborough Advisors LLC acquired a new position in shares of Aramark during the 4th quarter worth $34,000. EverSource Wealth Advisors LLC raised its holdings in Aramark by 2,269.4% during the third quarter. EverSource Wealth Advisors LLC now owns 1,161 shares of the company’s stock valued at $40,000 after buying an additional 1,112 shares in the last quarter. Finally, Solstein Capital LLC acquired a new stake in shares of Aramark in the fourth quarter worth about $47,000.

About Aramark

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.