Robert W. Baird Has Lowered Expectations for Vestis (NYSE:VSTS) Stock Price

Vestis (NYSE:VSTS) had its target price dropped by equities researchers at Robert W. Baird from $17.00 to $13.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Robert W. Baird’s price target would suggest a potential upside of 26.90% from the stock’s previous close.

Several other research analysts also recently issued reports 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 lowered their target price on shares of Vestis from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, JPMorgan Chase & Co. upped their target price on shares of Vestis from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat.com, Vestis has a consensus rating of “Hold” and an average price target of $13.68.

Vestis Stock Performance

Shares of NYSE:VSTS traded down $0.13 on Thursday, hitting $10.24. 325,026 shares of the company were exchanged, compared to its average volume of 2,095,377. The company’s 50 day moving average price is $13.64 and its two-hundred day moving average price is $14.59. Vestis has a one year low of $8.92 and a one year high of $19.76. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.43 and a current ratio of 1.80. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of 128.07 and a beta of 1.40.

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

Hedge Funds Weigh In On Vestis

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. HighTower Advisors LLC boosted its position in Vestis by 223.0% in the third quarter. HighTower Advisors LLC now owns 361,348 shares of the company’s stock valued at $5,386,000 after buying an additional 249,479 shares in the last quarter. Annex Advisory Services LLC boosted its position in Vestis by 13.5% in the fourth 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. Proficio Capital Partners LLC acquired a new position in Vestis in the fourth quarter valued at about $185,000. Ieq Capital LLC boosted its position in Vestis by 689.7% in the fourth quarter. Ieq Capital LLC now owns 160,671 shares of the company’s stock valued at $2,449,000 after buying an additional 140,324 shares in the last quarter. Finally, Pacer Advisors Inc. acquired a new position in Vestis in the fourth quarter valued at about $210,766,000. 97.40% of the stock is currently owned by institutional investors and hedge funds.

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.