Vestis Co. (NYSE:VSTS) Receives $13.68 Consensus Target Price from Analysts

Vestis Co. (NYSE:VSTS) has been given an average recommendation of “Reduce” by the eight ratings firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and seven have issued a hold rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $13.68.

Several equities research analysts have recently issued reports on VSTS shares. The Goldman Sachs Group decreased their price target on shares of Vestis from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Monday, March 17th. Robert W. Baird reduced their price objective on shares of Vestis from $17.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in Vestis by 17.9% in the 4th quarter. GAMMA Investing LLC now owns 4,670 shares of the company’s stock valued at $71,000 after purchasing an additional 710 shares during the period. Gamco Investors INC. ET AL boosted its holdings in Vestis by 2.0% in the 4th quarter. Gamco Investors INC. ET AL now owns 45,350 shares of the company’s stock valued at $691,000 after purchasing an additional 875 shares during the period. Nomura Asset Management Co. Ltd. boosted its holdings in Vestis by 104.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,000 shares of the company’s stock valued at $30,000 after purchasing an additional 1,020 shares during the period. Bank of Montreal Can boosted its holdings in Vestis by 11.1% in the 4th quarter. Bank of Montreal Can now owns 15,315 shares of the company’s stock valued at $233,000 after purchasing an additional 1,534 shares during the period. Finally, KBC Group NV boosted its holdings in Vestis by 51.9% in the 3rd quarter. KBC Group NV now owns 4,741 shares of the company’s stock valued at $71,000 after purchasing an additional 1,619 shares during the period. 97.40% of the stock is owned by institutional investors.

Vestis Trading Down 1.6 %

Shares of VSTS stock opened at $9.99 on Monday. The company has a 50 day moving average of $13.40 and a 200-day moving average of $14.54. The company has a quick ratio of 1.43, a current ratio of 1.80 and a debt-to-equity ratio of 1.39. Vestis has a 12-month low of $8.92 and a 12-month high of $19.76. The firm has a market cap of $1.32 billion, a P/E ratio of 124.89 and a beta of 1.40.

Vestis (NYSE:VSTS) last issued its quarterly earnings results 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 last year, the company posted $0.22 earnings per share. Sell-side analysts anticipate that Vestis will post 0.7 earnings per share for the current year.

Vestis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Friday, February 21st were paid a $0.035 dividend. The ex-dividend date was Friday, February 21st. This represents a $0.14 dividend on an annualized basis and a yield of 1.40%. Vestis’s dividend 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.