Aramark (NYSE:ARMK) Now Covered by Analysts at Citigroup

Investment analysts at Citigroup initiated coverage on shares of Aramark (NYSE:ARMK) in a report issued on Monday. The brokerage set a “buy” rating and a $48.00 price target on the stock. Citigroup’s price target suggests a potential upside of 33.65% from the company’s current price.

A number of other equities research analysts also recently commented on ARMK. StockNews.com downgraded Aramark from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. JPMorgan Chase & Co. boosted their target price on Aramark from $41.00 to $45.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Truist Financial boosted their target price on Aramark from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Robert W. Baird boosted their target price on Aramark from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $47.00 price objective on shares of Aramark in a research report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $43.42.

Aramark Stock Performance

NYSE ARMK opened at $35.92 on Monday. The firm has a market cap of $9.52 billion, a price-to-earnings ratio of 28.28 and a beta of 1.64. The company has a quick ratio of 0.84, a current ratio of 0.94 and a debt-to-equity ratio of 1.61. The business has a 50-day moving average price of $37.92 and a 200-day moving average price of $38.07. Aramark has a twelve month low of $29.82 and a twelve month high of $42.49.

Aramark (NYSE:ARMK) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. The firm had revenue of $4.55 billion during the quarter, compared to analyst estimates of $4.61 billion. Aramark had a return on equity of 14.72% and a net margin of 1.94%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.41 earnings per share. As a group, equities research analysts predict that Aramark will post 1.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Huntington National Bank grew its stake in Aramark by 100.3% in the third quarter. Huntington National Bank now owns 681 shares of the company’s stock worth $26,000 after purchasing an additional 341 shares in the last quarter. Capital Performance Advisors LLP bought a new position in Aramark in the third quarter worth approximately $28,000. Bessemer Group Inc. grew its stake in Aramark by 93.0% in the fourth quarter. Bessemer Group Inc. now owns 770 shares of the company’s stock worth $29,000 after purchasing an additional 371 shares in the last quarter. Jones Financial Companies Lllp grew its stake in Aramark by 45.7% in the fourth quarter. Jones Financial Companies Lllp now owns 988 shares of the company’s stock worth $37,000 after purchasing an additional 310 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in Aramark by 75.2% in the fourth quarter. UMB Bank n.a. now owns 1,354 shares of the company’s stock worth $51,000 after purchasing an additional 581 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.