Vestis (NYSE:VSTS) Price Target Raised to $13.00

Vestis (NYSE:VSTS) had its price target boosted by Barclays from $10.00 to $13.00 in a report issued on Friday,Benzinga reports. Barclays currently has an underweight rating on the stock.

A number of other equities analysts have also weighed in on the company. The Goldman Sachs Group lifted their price objective on Vestis from $12.50 to $13.80 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Robert W. Baird downgraded Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 price target for the company. in a report on Thursday, August 8th. Finally, Baird R W lowered shares of Vestis from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $17.43.

Vestis Stock Up 2.6 %

VSTS stock opened at $16.02 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.73 and a quick ratio of 2.02. The firm’s fifty day simple moving average is $14.60 and its 200-day simple moving average is $13.33. Vestis has a 12 month low of $8.92 and a 12 month high of $22.37. The company has a market capitalization of $2.11 billion and a P/E ratio of 100.13.

Vestis Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.035 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.14 annualized dividend and a yield of 0.87%. Vestis’s dividend payout ratio (DPR) is currently 87.51%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VSTS. AQR Capital Management LLC increased its position in Vestis by 223.0% during the second quarter. AQR Capital Management LLC now owns 3,753,889 shares of the company’s stock worth $45,197,000 after purchasing an additional 2,591,593 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of Vestis by 111.0% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,631,652 shares of the company’s stock valued at $39,212,000 after buying an additional 1,384,413 shares during the period. TOMS Capital Investment Management LP increased its holdings in shares of Vestis by 22.7% during the 3rd quarter. TOMS Capital Investment Management LP now owns 2,330,155 shares of the company’s stock worth $34,719,000 after buying an additional 430,555 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Vestis by 9.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,156,811 shares of the company’s stock valued at $32,136,000 after buying an additional 192,525 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Vestis by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,541,710 shares of the company’s stock valued at $18,854,000 after acquiring an additional 8,997 shares during the last quarter. Hedge funds and other institutional investors own 97.40% of the company’s stock.

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.