In yesterday’s Wall Street session, Aramark (NYSE:ARMK) shares traded at $39.19, down -0.78% from the previous session.
As of this writing, 14 analysts cover Aramark (NYSE:ARMK). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $50.00 and a low of $38.00, we find $45.00. Given the previous closing price of $39.50, this indicates a potential upside of 13.92 percent. ARMK stock price is now -4.37% away from the 50-day moving average and 0.03% away from the 200-day moving average. The market capitalization of the company currently stands at $10.29B.
There are 6 analysts who have given it a hold rating, whereas 6 have given it a buy rating. Brokers who have rated the stock have averaged $45.65 as their price target over the next twelve months.
With the price target maintained at $49, Bernstein recently Upgraded its rating from Mkt Perform to Outperform for Aramark (NYSE: ARMK).
In other news, MCKEE LYNN, EVP, Human Resources sold 30,817 shares of the company’s stock on Dec 13. The stock was sold for $1,308,490 at an average price of $42.46. Upon completion of the transaction, the EVP, Human Resources now directly owns 281,714 shares in the company, valued at $11.04 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 13, SVP and General Counsel Harrington Lauren A sold 9,452 shares of the business’s stock. A total of $401,521 was realized by selling the stock at an average price of $42.48. This leaves the insider owning 64,106 shares of the company worth $2.51 million. Insiders disposed of 99,817 shares of company stock worth roughly $3.91 million over the past 1 year. A total of 0.50% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in ARMK stock. A new stake in Aramark shares was purchased by HUDSON BAY CAPITAL MANAGEMENT LP during the first quarter worth $78,380,000. CAISSE DE DEPOT ET PLACEMENT DU QUEBEC invested $37,231,000 in shares of ARMK during the first quarter. In the first quarter, JEFFERIES FINANCIAL GROUP INC. acquired a new stake in Aramark valued at approximately $33,312,000. CIBC WORLD MARKETS CORP acquired a new stake in ARMK for approximately $15,676,000. WEISS MULTI-STRATEGY ADVISERS LLC purchased a new stake in ARMK valued at around $9,299,000 in the second quarter. In total, there are 523 active investors with 116.77% ownership of the company’s stock.
Friday morning saw Aramark (NYSE: ARMK) opened at $39.43. During the past 12 months, Aramark has had a low of $30.72 and a high of $45.72. As of last week, the company has a debt-to-equity ratio of 2.15, a current ratio of 1.30, and a quick ratio of 1.10. According to the stock market information, the enterprise value for the company is $17.85B, which is based on a 18.87 price-to-earnings ratio, a 0.57 price-to-earnings-growth ratio, and a beta of 1.62. The fifty day moving average price for ARMK is $40.97 and a two-hundred day moving average price translates $39.20 for the stock.
The latest earnings results from Aramark (NYSE: ARMK) was released for Jun, 2023. According to the Specialty Business Services Company, earnings per share came in at $0.36, beating analysts’ expectations of $0.34 by 0.02. This compares to $0.16 EPS in the same period last year. The net profit margin was 3.00% and return on equity was 16.90% for ARMK. The company reported revenue of $4.75 billion for the quarter, compared to $4.13 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 15.07 percent. For the current quarter, analysts expect ARMK to generate $4.79B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 08/29/2023. Investors who held shares on 08/16/2023 were paid a $0.11 dividend. On an annualized basis, this represents a $0.44 dividend and a 1.12% percent yield. There was an ex-dividend date of 08/15/2023 for this dividend. In terms of dividend payout ratio, ARMK is presently at 21.00%.
Aramark(ARMK) Company Profile
Aramark provides food, facilities, and uniform services to education, healthcare, business and industry, sports, leisure, and corrections clients in the United States and internationally. It operates through three segments: Food and Support Services United States, Food and Support Services International, and Uniform and Career Apparel. The company offers food-related managed services, including dining, catering, food service management, and convenience-oriented retail services; non-clinical support services, such as patient food and nutrition, retail food, and procurement services; and plant operations and maintenance, custodial/housekeeping, energy management, grounds keeping, and capital project management services. It also provides on-site restaurants, catering, convenience stores, and executive dining services; beverage and vending services; and facility management services comprising landscaping, transportation, payment, and other facility consulting services relating to building operations. In addition, the company offers concessions, banquet, and catering services; retail services and merchandise sale, recreational, and lodging services; and facility management services at sports, entertainment, and recreational facilities. Further, the company offers correctional food; and operates commissaries, laundry facilities, and property rooms. Additionally, it provides design, sourcing and manufacturing, delivery, cleaning, maintenance, and marketing services for uniforms and accessories; provides managed restroom services; work clothing, outerwear, and item related services that include mats, towels, linens, and first aid supplies. The company was formerly known as ARAMARK Holdings Corporation. Aramark was founded in 1959 and is based in Philadelphia, Pennsylvania.
