Aramark (NYSE:ARMK) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

by · The Markets Daily

Aramark (NYSE:ARMK – Get Free Report) had its price target increased by investment analysts at JPMorgan Chase & Co. from $41.00 to $45.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 17.19% from the stock’s current price.

A number of other equities research analysts also recently commented on ARMK. Truist Financial boosted their target price on Aramark from $37.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. UBS Group upped their price objective on Aramark from $40.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. The Goldman Sachs Group raised their target price on shares of Aramark from $38.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. StockNews.com raised shares of Aramark from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. Finally, Robert W. Baird boosted their target price on shares of Aramark from $38.00 to $44.00 and gave the stock a “neutral” rating in a report on Tuesday. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Aramark currently has a consensus rating of “Moderate Buy” and an average price target of $41.55.

View Our Latest Report on Aramark

Aramark Price Performance

ARMK traded down $0.28 during trading on Tuesday, reaching $38.40. 190,993 shares of the company traded hands, compared to its average volume of 2,211,454. Aramark has a 12-month low of $25.92 and a 12-month high of $42.04. The firm has a fifty day simple moving average of $38.11 and a 200 day simple moving average of $35.06. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.86 and a current ratio of 0.96. The company has a market cap of $10.12 billion, a P/E ratio of 29.25 and a beta of 1.62.

Aramark (NYSE:ARMK – Get Free Report) last posted its earnings results on Monday, November 11th. The company reported $0.54 earnings per share for the quarter, meeting the consensus estimate of $0.54. The company had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $4.46 billion. Aramark had a net margin of 1.93% and a return on equity of 14.09%. Aramark’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the company posted $0.64 earnings per share. On average, equities analysts forecast that Aramark will post 1.55 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ARMK. Banco Santander S.A. increased its holdings in Aramark by 0.3% during the third quarter. Banco Santander S.A. now owns 213,281 shares of the company’s stock valued at $8,260,000 after buying an additional 640 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Aramark by 70.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,329,917 shares of the company’s stock valued at $322,618,000 after acquiring an additional 3,430,131 shares during the period. Anthracite Investment Company Inc. bought a new position in shares of Aramark in the 3rd quarter worth $3,524,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Aramark during the 3rd quarter worth $5,042,000. Finally, Quest Partners LLC boosted its position in Aramark by 3,617,700.0% during the third quarter. Quest Partners LLC now owns 36,178 shares of the company’s stock valued at $1,401,000 after purchasing an additional 36,177 shares in the last quarter.

Aramark Company Profile

(Get Free Report)

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.

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