Aramark (NYSE:ARMK) Sets New 52-Week High at $37.05

Shares of Aramark (NYSE:ARMK) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $37.05 and last traded at $37.00, with a volume of 1490720 shares traded. The stock had previously closed at $36.11.

Analysts Set New Price Targets

A number of equities analysts have issued reports on ARMK shares. Royal Bank of Canada raised their price target on shares of Aramark from $33.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 7th. Truist Financial downgraded Aramark from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price objective on Aramark from $35.00 to $39.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. UBS Group lifted their price target on Aramark from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, June 21st. Finally, Oppenheimer upped their price objective on Aramark from $36.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 12th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $35.82.

Aramark Stock Performance

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 firm’s 50-day moving average price is $34.35 and its two-hundred day moving average price is $32.87. The stock has a market cap of $9.64 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 1.96 and a beta of 1.59.

Aramark (NYSE:ARMK) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.30 by $0.01. The business had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.31 billion. Aramark had a return on equity of 14.09% and a net margin of 1.93%. The company’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.36 EPS. On average, analysts expect that Aramark will post 1.57 EPS for the current fiscal year.

Aramark Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 19th were issued a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date was Monday, August 19th. Aramark’s dividend payout ratio (DPR) is 15.97%.

Hedge Funds Weigh In On Aramark

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARMK. Rise Advisors LLC acquired a new position in Aramark during the 1st quarter worth approximately $25,000. Benjamin F. Edwards & Company Inc. purchased a new position in Aramark in the fourth quarter valued at $28,000. Scarborough Advisors LLC acquired a new stake in Aramark in the fourth quarter valued at $34,000. Twin Tree Management LP raised its stake in Aramark by 32.0% in the first quarter. Twin Tree Management LP now owns 1,424 shares of the company’s stock valued at $46,000 after buying an additional 345 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Aramark by 319.3% during the 2nd quarter. GAMMA Investing LLC now owns 1,677 shares of the company’s stock worth $57,000 after buying an additional 1,277 shares during the last quarter.

Aramark Company Profile

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.