Aramark (NYSE:ARMK) Given New $44.00 Price Target at UBS Group

Aramark (NYSE:ARMK) had its price target increased by investment analysts at UBS Group from $40.00 to $44.00 in a research note issued to investors on Wednesday, Marketbeat reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price objective indicates a potential upside of 14.45% from the stock’s previous close.

A number of other brokerages have also commented on ARMK. Royal Bank of Canada reissued an “outperform” rating and set a $47.00 price target on shares of Aramark in a research note on Thursday, February 6th. StockNews.com downgraded shares of Aramark from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Morgan Stanley raised their price target on shares of Aramark from $40.00 to $42.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, Citigroup initiated coverage on shares of Aramark in a research note on Monday, February 24th. They issued a “buy” rating and a $48.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $43.33.

Aramark Price Performance

Aramark stock opened at $38.45 on Wednesday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 0.94. Aramark has a 52 week low of $29.92 and a 52 week high of $42.49. The stock has a market capitalization of $10.19 billion, a P/E ratio of 30.27 and a beta of 1.20. The stock has a fifty day moving average of $33.96 and a 200-day moving average of $36.91.

Aramark (NYSE:ARMK) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.01. Aramark had a net margin of 1.94% and a return on equity of 14.72%. The company had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.35 billion. During the same period in the prior year, the business earned $0.30 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. On average, sell-side analysts expect that Aramark will post 1.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Aramark

A number of institutional investors and hedge funds have recently made changes to their positions in ARMK. Harbour Investments Inc. raised its stake in Aramark by 40,750.0% during the 1st quarter. Harbour Investments Inc. now owns 817 shares of the company’s stock worth $28,000 after buying an additional 815 shares during the period. Bessemer Group Inc. increased its holdings in shares of Aramark by 93.0% during the fourth quarter. Bessemer Group Inc. now owns 770 shares of the company’s stock valued at $29,000 after acquiring an additional 371 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of Aramark by 45.7% during 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 during the period. UMB Bank n.a. lifted its holdings in shares of Aramark by 75.2% in the 4th 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. Finally, Global Retirement Partners LLC grew its position in Aramark by 167.2% in the 4th quarter. Global Retirement Partners LLC now owns 1,424 shares of the company’s stock valued at $53,000 after purchasing an additional 891 shares during the period.

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.