Robert W. Baird Issues Pessimistic Forecast for Vestis (NYSE:VSTS) Stock Price

Vestis (NYSE:VSTS) had its target price decreased by equities research analysts at Robert W. Baird from $17.00 to $13.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Robert W. Baird’s price target would indicate a potential upside of 30.13% from the company’s previous close.

Other research analysts also recently issued reports about the stock. JPMorgan Chase & Co. lifted their target price 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 cut their target price on shares of Vestis from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Monday, March 17th. Finally, Barclays increased their target price on Vestis from $10.00 to $13.00 and gave the company an “underweight” rating in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $13.68.

Vestis Price Performance

Shares of NYSE:VSTS opened at $9.99 on Thursday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.43 and a current ratio of 1.80. The company has a market capitalization of $1.32 billion, a PE ratio of 124.89 and a beta of 1.40. The stock has a fifty day moving average of $13.40 and a 200-day moving average of $14.53. Vestis has a one year low of $8.92 and a one year high of $19.76.

Vestis (NYSE:VSTS) last announced its earnings results on Friday, January 31st. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. Vestis had a return on equity of 7.91% and a net margin of 0.34%. During the same quarter in the prior year, the business earned $0.22 earnings per share. As a group, equities analysts anticipate that Vestis will post 0.7 EPS for the current fiscal year.

Institutional Trading of Vestis

Several hedge funds and other institutional investors have recently modified their holdings of VSTS. Pacer Advisors Inc. acquired a new position in Vestis in the 4th quarter worth about $210,766,000. AQR Capital Management LLC increased its holdings in Vestis by 47.4% in the fourth quarter. AQR Capital Management LLC now owns 3,125,669 shares of the company’s stock worth $47,635,000 after buying an additional 1,004,497 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Vestis by 46.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,095,278 shares of the company’s stock valued at $47,172,000 after acquiring an additional 980,303 shares in the last quarter. Millennium Management LLC lifted its stake in Vestis by 179.4% in the fourth quarter. Millennium Management LLC now owns 3,003,762 shares of the company’s stock valued at $45,777,000 after acquiring an additional 1,928,687 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its position in Vestis by 2.3% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 2,691,476 shares of the company’s stock worth $41,018,000 after acquiring an additional 59,824 shares in the last quarter. 97.40% of the stock is currently owned by hedge funds and other 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.