Vestis Co. (NYSE:VSTS) Receives $15.73 Average Price Target from Brokerages

Vestis Co. (NYSE:VSTS) has been assigned a consensus rating of “Hold” from the nine analysts that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $15.73.

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Vestis from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Barclays lifted their target price on Vestis from $10.00 to $13.00 and gave the stock an “underweight” rating in a report on Friday, November 22nd. Finally, The Goldman Sachs Group increased their price target on Vestis from $13.60 to $15.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd.

Vestis Price Performance

Shares of VSTS stock opened at $15.36 on Wednesday. The business has a fifty day simple moving average of $15.13 and a 200 day simple moving average of $14.01. The company has a market cap of $2.02 billion, a P/E ratio of 96.01 and a beta of 1.17. The company has a quick ratio of 1.36, a current ratio of 1.73 and a debt-to-equity ratio of 1.40. Vestis has a twelve month low of $8.92 and a twelve month high of $22.37.

Vestis (NYSE:VSTS) last posted its quarterly earnings results on Thursday, November 21st. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). The company had revenue of $684.28 million during the quarter, compared to analyst estimates of $693.54 million. Vestis had a net margin of 0.75% and a return on equity of 9.07%. The business’s quarterly revenue was down 4.4% on a year-over-year basis. On average, sell-side analysts forecast that Vestis will post 0.66 EPS for the current fiscal year.

Vestis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 13th will be given a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend is Friday, December 13th. Vestis’s payout ratio is currently 87.50%.

Institutional Investors Weigh In On Vestis

Institutional investors have recently added to or reduced their stakes in the company. LMR Partners LLP boosted 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. HighTower Advisors LLC lifted its holdings in Vestis by 223.0% during the third quarter. HighTower Advisors LLC now owns 361,348 shares of the company’s stock worth $5,386,000 after acquiring an additional 249,479 shares during the period. Private Management Group Inc. boosted its position in Vestis by 9.2% in the second quarter. Private Management Group Inc. now owns 692,394 shares of the company’s stock worth $8,468,000 after purchasing an additional 58,538 shares during the last quarter. Royce & Associates LP grew its stake in Vestis by 10.7% in the 3rd quarter. Royce & Associates LP now owns 689,389 shares of the company’s stock valued at $10,272,000 after purchasing an additional 66,621 shares during the period. Finally, Seven Eight Capital LP purchased a new stake in shares of Vestis during the 2nd quarter valued at $1,627,000. 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.