Vestis (NYSE:VSTS) Price Target Raised to $15.00

Vestis (NYSE:VSTS) had its price target lifted by The Goldman Sachs Group from $13.60 to $15.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a neutral rating on the stock.

Several other research firms have also issued reports on VSTS. Robert W. Baird lowered Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 target price on the stock. in a report on Thursday, August 8th. Barclays upped their price objective on Vestis from $10.00 to $13.00 and gave the stock an “underweight” rating in a research report on Friday. JPMorgan Chase & Co. lifted their target price on Vestis from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Baird R W downgraded Vestis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 8th. One equities research 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. Based on data from MarketBeat.com, Vestis currently has a consensus rating of “Hold” and an average price target of $17.43.

Vestis Stock Performance

NYSE VSTS opened at $16.02 on Friday. Vestis has a 12-month low of $8.92 and a 12-month high of $22.37. The firm has a 50-day moving average price of $14.60 and a two-hundred day moving average price of $13.33. The company has a market capitalization of $2.11 billion and a P/E ratio of 100.13. The company has a quick ratio of 2.02, a current ratio of 1.73 and a debt-to-equity ratio of 1.40.

Vestis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 13th will be 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 is Friday, December 13th. Vestis’s dividend payout ratio is currently 87.51%.

Institutional Trading of Vestis

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. raised its holdings in shares of Vestis by 22.7% in the first quarter. Sei Investments Co. now owns 115,628 shares of the company’s stock valued at $2,228,000 after purchasing an additional 21,414 shares during the last quarter. UniSuper Management Pty Ltd bought a new position in shares of Vestis during the 1st quarter worth $517,000. Gamco Investors INC. ET AL increased its holdings in Vestis by 16.2% in the 1st quarter. Gamco Investors INC. ET AL now owns 81,125 shares of the company’s stock worth $1,563,000 after acquiring an additional 11,330 shares during the last quarter. Keeley Teton Advisors LLC lifted its holdings in Vestis by 71.5% during the first quarter. Keeley Teton Advisors LLC now owns 27,960 shares of the company’s stock valued at $539,000 after purchasing an additional 11,655 shares during the last quarter. Finally, Gabelli Funds LLC boosted its position in Vestis by 29.1% during the first quarter. Gabelli Funds LLC now owns 230,500 shares of the company’s stock worth $4,442,000 after purchasing an additional 52,000 shares during the period. 97.40% of the stock is owned by institutional investors.

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.