Morgan Stanley Forecasts Strong Price Appreciation for Aramark (NYSE:ARMK) Stock

Aramark (NYSE:ARMK) had its target price raised by Morgan Stanley from $38.00 to $40.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would indicate a potential upside of 3.44% from the company’s current price.

Other analysts have also recently issued reports about the company. Robert W. Baird upped their price target on Aramark from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Truist Financial increased their target price on shares of Aramark from $37.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. UBS Group boosted their price target on shares of Aramark from $40.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. StockNews.com raised shares of Aramark from a “sell” rating to a “hold” rating in a report on Tuesday, October 29th. Finally, The Goldman Sachs Group boosted their target price on Aramark from $38.00 to $41.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $41.15.

Aramark Trading Down 1.1 %

Shares of ARMK stock opened at $38.67 on Tuesday. The firm has a fifty day moving average of $38.11 and a 200-day moving average of $35.06. The stock has a market cap of $10.19 billion, a price-to-earnings ratio of 29.52 and a beta of 1.62. Aramark has a 52-week low of $25.92 and a 52-week high of $42.04. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.86 and a current ratio of 0.96.

Aramark (NYSE:ARMK) last posted its quarterly earnings results on Monday, November 11th. The company reported $0.54 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.54. The firm had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.46 billion. Aramark had a net margin of 1.93% and a return on equity of 14.09%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.64 earnings per share. On average, equities research analysts forecast that Aramark will post 1.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Aramark

A number of institutional investors and hedge funds have recently made changes to their positions in ARMK. BNP Paribas Financial Markets increased its position in Aramark by 54.9% in the first quarter. BNP Paribas Financial Markets now owns 29,636 shares of the company’s stock worth $964,000 after purchasing an additional 10,505 shares during the period. Janney Montgomery Scott LLC grew its position in shares of Aramark by 36.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 16,020 shares of the company’s stock worth $521,000 after buying an additional 4,265 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in shares of Aramark during the first quarter worth approximately $245,000. Swiss National Bank lifted its holdings in Aramark by 0.6% in the first quarter. Swiss National Bank now owns 492,000 shares of the company’s stock valued at $16,000,000 after buying an additional 2,800 shares during the period. Finally, Sei Investments Co. boosted its stake in Aramark by 15.2% in the first quarter. Sei Investments Co. now owns 93,574 shares of the company’s stock valued at $3,043,000 after acquiring an additional 12,342 shares during 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.