Vestis Co. (NYSE:VSTS) Receives $14.08 Consensus Target Price from Analysts

Shares of Vestis Co. (NYSE:VSTS) have been assigned an average recommendation of “Reduce” from the eight research firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $14.08.

VSTS has been the topic of several research reports. JPMorgan Chase & Co. boosted their price target on shares of Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. The Goldman Sachs Group lifted their price objective on shares of Vestis from $13.60 to $15.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Finally, Barclays lifted their price objective on shares of Vestis from $10.00 to $13.00 and gave the stock an “underweight” rating in a research note on Friday, November 22nd.

Hedge Funds Weigh In On Vestis

A number of large investors have recently added to or reduced their stakes in VSTS. Pacer Advisors Inc. bought a new position in Vestis in the fourth quarter worth about $210,766,000. First Trust Advisors LP bought a new position in Vestis in the fourth quarter worth about $22,936,000. Birnam Oak Advisors LP acquired a new position in shares of Vestis during the fourth quarter valued at about $21,446,000. Jacobs Levy Equity Management Inc. increased its holdings in shares of Vestis by 111.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,631,652 shares of the company’s stock valued at $39,212,000 after acquiring an additional 1,384,413 shares in the last quarter. Finally, Forest Avenue Capital Management LP acquired a new position in shares of Vestis during the third quarter valued at about $19,486,000. 97.40% of the stock is currently owned by institutional investors.

Vestis Trading Down 0.1 %

Shares of VSTS opened at $13.71 on Thursday. The company’s fifty day moving average is $15.50 and its 200 day moving average is $14.80. Vestis has a fifty-two week low of $8.92 and a fifty-two week high of $20.07. The stock has a market capitalization of $1.81 billion, a PE ratio of 171.45 and a beta of 1.16. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.43 and a current ratio of 1.80.

Vestis (NYSE:VSTS) last announced its quarterly earnings results on Friday, January 31st. The company reported $0.14 earnings per share 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 period in the previous year, the firm earned $0.22 EPS. Sell-side analysts expect that Vestis will post 0.7 earnings per share for the current fiscal year.

Vestis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Friday, February 21st will be issued a $0.035 dividend. The ex-dividend date is Friday, February 21st. This represents a $0.14 dividend on an annualized basis and a yield of 1.02%. Vestis’s dividend payout ratio is presently 175.02%.

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.