Vestis Co. (NYSE:VSTS) Receives $14.08 Average Price Target from Analysts

Shares of Vestis Co. (NYSE:VSTS) have been assigned a consensus recommendation of “Reduce” from the eight analysts that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $14.08.

A number of research firms have weighed in on VSTS. JPMorgan Chase & Co. boosted their target price on shares of Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Barclays upped their target price on Vestis from $10.00 to $13.00 and gave the stock an “underweight” rating in a report on Friday, November 22nd. Finally, The Goldman Sachs Group lifted their price target on Vestis from $13.60 to $15.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd.

Institutional Trading of Vestis

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brooklyn Investment Group bought a new stake in shares of Vestis in the 3rd quarter valued at $27,000. Spire Wealth Management bought a new stake in Vestis during the fourth quarter valued at $29,000. Nomura Asset Management Co. Ltd. grew its holdings in Vestis by 104.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,000 shares of the company’s stock worth $30,000 after acquiring an additional 1,020 shares during the period. Capital Performance Advisors LLP bought a new position in shares of Vestis in the 3rd quarter worth about $41,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Vestis in the 2nd quarter valued at about $44,000. Institutional investors and hedge funds own 97.40% of the company’s stock.

Vestis Trading Down 0.9 %

Shares of VSTS stock opened at $16.09 on Friday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.36 and a current ratio of 1.73. Vestis has a fifty-two week low of $8.92 and a fifty-two week high of $22.37. The company has a market cap of $2.12 billion, a PE ratio of 100.58 and a beta of 1.17. The stock’s fifty day moving average price is $15.90 and its two-hundred day moving average price is $14.60.

Vestis (NYSE:VSTS) last issued its earnings results on Thursday, November 21st. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.02). Vestis had a return on equity of 9.07% and a net margin of 0.75%. The business had revenue of $684.28 million for the quarter, compared to analyst estimates of $693.54 million. Vestis’s revenue for the quarter was down 4.4% compared to the same quarter last year. Equities analysts predict that Vestis will post 0.66 EPS for the current fiscal year.

Vestis Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 13th were paid a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend was Friday, December 13th. Vestis’s dividend payout ratio is currently 87.51%.

About Vestis

Vestis Corporation provides uniform rentals and workplace supplies in the United States and Canada. Its products include uniform options, such as shirts, pants, outerwear, gowns, scrubs, high visibility garments, particulate-free garments, and flame-resistant garments, as well as shoes and accessories; and workplace supplies, including managed restroom supply services, first-aid supplies and safety products, floor mats, towels, and linens.