Aramark (NYSE:ARMK) Price Target Raised to $37.00 at Robert W. Baird

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

ARMK has been the topic of a number of other research reports. Truist Financial boosted their target price on shares of Aramark from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $33.00 target price on shares of Aramark in a report on Wednesday, February 7th. The Goldman Sachs Group initiated coverage on Aramark in a report on Wednesday, January 17th. They set a “buy” rating and a $33.00 price target on the stock. Finally, Morgan Stanley lifted their target price on shares of Aramark from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. One equities research 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 MarketBeat, Aramark currently has an average rating of “Moderate Buy” and an average price target of $33.32.

Aramark Stock Performance

NYSE:ARMK opened at $30.75 on Wednesday. Aramark has a twelve month low of $23.95 and a twelve month high of $33.04. The company has a quick ratio of 1.12, a current ratio of 1.27 and a debt-to-equity ratio of 2.08. The stock’s 50-day simple moving average is $31.64 and its 200 day simple moving average is $29.54. The firm 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.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Treasurer of the State of North Carolina lifted its position in Aramark by 0.4% in the 3rd quarter. Treasurer of the State of North Carolina now owns 106,146 shares of the company’s stock valued at $3,683,000 after acquiring an additional 420 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Aramark by 2.3% in the first quarter. Daiwa Securities Group Inc. now owns 19,540 shares of the company’s stock valued at $635,000 after purchasing an additional 432 shares in the last quarter. M&T Bank Corp boosted its position in shares of Aramark by 5.7% during the fourth quarter. M&T Bank Corp now owns 8,129 shares of the company’s stock valued at $229,000 after buying an additional 442 shares during the last quarter. CIBC Asset Management Inc raised its position in Aramark by 5.2% in the 3rd quarter. CIBC Asset Management Inc now owns 9,099 shares of the company’s stock valued at $316,000 after buying an additional 447 shares during the last quarter. Finally, New York Life Investment Management LLC lifted its stake in Aramark by 1.7% during the 4th quarter. New York Life Investment Management LLC now owns 28,127 shares of the company’s stock valued at $790,000 after acquiring an additional 462 shares in the last quarter.

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.