Robert W. Baird Trims Vestis (NYSE:VSTS) Target Price to $13.00

Vestis (NYSE:VSTS) had its target price cut by investment analysts at Robert W. Baird from $24.00 to $13.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s target price would indicate a potential upside of 27.33% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. Wolfe Research started coverage on Vestis in a report on Thursday, January 11th. They issued an “outperform” rating and a $24.00 price objective on the stock. Barclays downgraded Vestis from an “equal weight” rating to an “underweight” rating and lifted their price target for the company from $17.00 to $19.00 in a research note on Wednesday, February 28th. Finally, The Goldman Sachs Group began coverage on Vestis in a research report on Thursday, January 25th. They issued a “neutral” rating and a $22.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Vestis presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.33.

Vestis Stock Performance

NYSE:VSTS opened at $10.21 on Friday. The company has a debt-to-equity ratio of 1.73, a current ratio of 2.61 and a quick ratio of 2.23. The stock’s 50 day simple moving average is $18.60 and its 200-day simple moving average is $18.71. Vestis has a 12-month low of $8.92 and a 12-month high of $22.37.

Vestis (NYSE:VSTS) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.09). The business had revenue of $705.37 million for the quarter, compared to the consensus estimate of $722.54 million. The firm’s quarterly revenue was up .9% on a year-over-year basis. As a group, analysts expect that Vestis will post 1.03 earnings per share for the current year.

Insider Buying and Selling at Vestis

In other Vestis news, CEO Kim Scott purchased 15,000 shares of the business’s stock in a transaction on Friday, February 9th. The stock was bought at an average cost of $19.14 per share, for a total transaction of $287,100.00. Following the acquisition, the chief executive officer now owns 183,131 shares of the company’s stock, valued at approximately $3,505,127.34. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Hedge Funds Weigh In On Vestis

A number of hedge funds have recently made changes to their positions in VSTS. Vanguard Group Inc. acquired a new stake in Vestis in the fourth quarter valued at approximately $302,586,000. Capital International Investors acquired a new stake in shares of Vestis during the fourth quarter valued at about $125,586,000. Channing Capital Management LLC purchased a new stake in shares of Vestis during the fourth quarter worth about $72,529,000. Wellington Management Group LLP acquired a new position in shares of Vestis in the fourth quarter worth about $56,431,000. Finally, Victory Capital Management Inc. acquired a new position in shares of Vestis in the fourth quarter worth about $48,292,000. Institutional investors and hedge funds own 97.40% of the company’s stock.

About Vestis

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.