Aramark (NYSE:ARMK) Stock Gets Price Target Reduction from UBS Group

Aramark (NYSE:ARMK) had its price target lowered by UBS Group from $71.00 to $65.00 in a research report released on Wednesday, Marketbeat reports. The firm currently has a buy rating on the stock.

Several other brokerages have also issued reports on ARMK. Weiss Ratings upgraded shares of Aramark from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 15th. Zacks Research cut shares of Aramark from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 3rd. Deutsche Bank reissued a “buy” rating and set a $74.00 price objective on shares of Aramark in a research report on Wednesday, August 12th. New Street Research set a $70.00 price objective on Aramark in a research note on Thursday, August 13th. Finally, Royal Bank Of Canada lifted their target price on Aramark from $60.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday, August 19th. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.82.

Aramark Price Performance

Shares of ARMK opened at $53.84 on Wednesday. The firm has a market cap of $14.19 billion, a PE ratio of 24.94, a P/E/G ratio of 0.79 and a beta of 1.10. The company has a current ratio of 1.28, a quick ratio of 1.14 and a debt-to-equity ratio of 1.80. The firm has a fifty day simple moving average of $55.18 and a two-hundred day simple moving average of $50.75. Aramark has a 1-year low of $35.07 and a 1-year high of $62.65.

Aramark (NYSE:ARMK) last released its quarterly earnings results on Tuesday, August 11th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. The firm had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $4.94 billion. Aramark had a return on equity of 17.68% and a net margin of 1.93%. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period last year, the business posted $0.40 EPS. On average, equities analysts anticipate that Aramark will post 2.27 EPS for the current year.

Institutional Trading of Aramark

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio purchased a new stake in Aramark in the second quarter valued at $4,248,000. Bank of America Corp DE acquired a new stake in shares of Aramark during the 2nd quarter worth about $137,742,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Aramark in the 2nd quarter valued at about $1,001,000. Corient Private Wealth LP raised its holdings in Aramark by 477.3% in the 2nd quarter. Corient Private Wealth LP now owns 65,214 shares of the company’s stock valued at $3,711,000 after buying an additional 53,917 shares during the period. Finally, BlackRock Inc. acquired a new position in Aramark in the second quarter valued at about $1,411,586,000.

Aramark Company Profile

Aramark provides food and facilities management services to organizations around the world. Its clients include schools and universities, hospitals and other healthcare providers, businesses, sports and entertainment venues, and correctional institutions. The company plans and operates dining programs, including meal preparation, catering, concessions, and retail food services. It also provides facilities services such as maintenance, cleaning, and related operational support tailored to client needs.