Aramark (NYSE:ARMK) Reaches New 52-Week High at $37.05 (2024)

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

Analyst Ratings Changes

Several research firms recently issued reports on ARMK. Deutsche Bank Aktiengesellschaft raised shares of Aramark from a "hold" rating to a "buy" rating and increased their target price for the stock from $36.00 to $39.00 in a report on Wednesday, August 7th. Bank of America upped their target price on shares of Aramark from $36.00 to $39.00 and gave the stock a "buy" rating in a report on Wednesday, August 7th. Oppenheimer raised their price target on Aramark from $36.00 to $39.00 and gave the company an "outperform" rating in a report on Wednesday, June 12th. Truist Financial lowered Aramark from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. boosted their price target on Aramark from $35.00 to $39.00 and gave the stock an "overweight" rating in a report on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, Aramark has an average rating of "Moderate Buy" and a consensus target price of $35.82.

View Our Latest Stock Analysis on ARMK

Aramark Price Performance

The stock has a market cap of $9.83 billion, a PE ratio of 15.71, a PEG ratio of 1.96 and a beta of 1.59. The firm's 50-day moving average price is $34.28 and its two-hundred day moving average price is $32.84. The company has a current ratio of 0.96, a quick ratio of 0.86 and a debt-to-equity ratio of 1.71.

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

Aramark Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders 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 dividend yield of 1.02%. The ex-dividend date of this dividend was Monday, August 19th. Aramark's dividend payout ratio (DPR) is presently 15.97%.

Institutional Trading of Aramark

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rise Advisors LLC purchased a new position in shares of Aramark during the 1st quarter valued at 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 purchased a new stake in shares of Aramark during the 4th quarter worth about $34,000. Twin Tree Management LP grew its position in shares of Aramark by 32.0% during the 1st quarter. Twin Tree Management LP now owns 1,424 shares of the company's stock valued at $46,000 after acquiring an additional 345 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Aramark by 319.3% in the 2nd quarter. GAMMA Investing LLC now owns 1,677 shares of the company's stock valued at $57,000 after purchasing an additional 1,277 shares in the last quarter.

About Aramark

(Get Free Report)

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.

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