Analysts Set Vestis Co. (NYSE:VSTS) Target Price at $14.08

Shares of Vestis Co. (NYSE:VSTS) have earned an average rating of “Reduce” from the eight ratings firms that are currently covering the stock, MarketBeat 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 price target among brokerages that have updated their coverage on the stock in the last year is $14.08.

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

Institutional Investors Weigh In On Vestis

Several hedge funds have recently bought and sold shares of the business. HighTower Advisors LLC lifted its holdings in shares of Vestis by 223.0% during the third quarter. HighTower Advisors LLC now owns 361,348 shares of the company’s stock valued at $5,386,000 after purchasing an additional 249,479 shares during the last quarter. LMR Partners LLP grew its stake in shares of Vestis by 726.8% in the 3rd quarter. LMR Partners LLP now owns 160,528 shares of the company’s stock worth $2,392,000 after buying an additional 141,113 shares during the last quarter. Annex Advisory Services LLC increased its position in Vestis by 13.5% during the 4th quarter. Annex Advisory Services LLC now owns 293,899 shares of the company’s stock valued at $4,479,000 after buying an additional 34,951 shares in the last quarter. Royce & Associates LP raised its stake in Vestis by 10.7% during the third quarter. Royce & Associates LP now owns 689,389 shares of the company’s stock valued at $10,272,000 after buying an additional 66,621 shares during the last quarter. Finally, Pacer Advisors Inc. bought a new stake in Vestis in the fourth quarter worth $210,766,000. Institutional investors own 97.40% of the company’s stock.

Vestis Stock Up 0.8 %

VSTS opened at $13.65 on Thursday. Vestis has a fifty-two week low of $8.92 and a fifty-two week high of $20.07. The company’s 50-day moving average is $15.33 and its 200 day moving average is $14.82. The firm has a market capitalization of $1.80 billion, a P/E ratio of 170.58 and a beta of 1.16. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.80 and a quick ratio of 1.43.

Vestis (NYSE:VSTS) last announced its quarterly earnings data on Friday, January 31st. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. Vestis had a return on equity of 7.91% and a net margin of 0.34%. During the same quarter last year, the business earned $0.22 earnings per share. Research analysts expect that Vestis will post 0.7 earnings per share for the current fiscal year.

Vestis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Friday, February 21st will be paid a $0.035 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $0.14 annualized dividend and a dividend yield of 1.03%. Vestis’s payout ratio is 175.00%.

Vestis Company Profile

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.