UBS Group Has Lowered Expectations for Aramark (NYSE:ARMK) Stock Price

Aramark (NYSE:ARMK) had its price objective cut by stock analysts at UBS Group from $71.00 to $65.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group‘s price target indicates a potential upside of 20.54% from the stock’s current price.

A number of other equities analysts have also recently commented on ARMK. The Goldman Sachs Group restated a “buy” rating and set a $70.00 target price on shares of Aramark in a report on Wednesday, August 12th. Stifel Nicolaus boosted their price target on shares of Aramark from $54.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Robert W. Baird increased their price target on shares of Aramark from $63.00 to $69.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. Jefferies Financial Group raised their price objective on shares of Aramark from $62.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Aramark from $55.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, August 13th. Thirteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Aramark has an average rating of “Moderate Buy” and an average target price of $68.82.

Aramark Trading Down 0.5%

Shares of NYSE ARMK traded down $0.29 during trading on Wednesday, reaching $53.92. The stock had a trading volume of 1,336,817 shares, compared to its average volume of 2,796,450. Aramark has a fifty-two week low of $35.07 and a fifty-two week high of $62.65. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.14 and a current ratio of 1.28. The business’s 50-day moving average price is $55.35 and its 200-day moving average price is $50.53. The company has a market cap of $14.22 billion, a P/E ratio of 37.71, a PEG ratio of 0.81 and a beta of 1.10.

Aramark (NYSE:ARMK) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.04. Aramark had a return on equity of 17.68% and a net margin of 1.93%. The firm had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $4.94 billion. During the same quarter in the previous year, the business earned $0.40 EPS. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. On average, equities research analysts predict that Aramark will post 2.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in Aramark during the 2nd quarter worth about $1,411,586,000. Jupiter Topco LLC purchased a new position in shares of Aramark in the 2nd quarter valued at about $1,041,407,000. Dimensional Fund Advisors LP boosted its stake in shares of Aramark by 13.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,177,184 shares of the company’s stock valued at $290,962,000 after buying an additional 868,900 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of Aramark in the 2nd quarter valued at about $140,853,000. Finally, Bank of America Corp DE acquired a new position in shares of Aramark during the second quarter worth about $137,742,000.

About Aramark

Aramark provides food and facilities management services to organizations around the world. Its clients include schools and universities, hospitals and other healthcare providers, businesses, sports and entertainment venues, and correctional institutions. The company plans and operates dining programs, including meal preparation, catering, concessions, and retail food services. It also provides facilities services such as maintenance, cleaning, and related operational support tailored to client needs.