Vestis (NYSE:VSTS) Price Target Lowered to $11.00 at The Goldman Sachs Group

Vestis (NYSE:VSTS) had its price objective cut by stock analysts at The Goldman Sachs Group from $20.00 to $11.00 in a research report issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 17.65% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. cut Vestis from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $22.00 to $11.00 in a research note on Friday. Wolfe Research assumed coverage on shares of Vestis in a report on Thursday, January 11th. They issued an “outperform” rating and a $24.00 price objective for the company. Stifel Nicolaus reissued a “hold” rating on shares of Vestis in a research note on Friday. Robert W. Baird cut their target price on Vestis from $24.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Barclays dropped their target price on shares of Vestis from $19.00 to $10.00 and set an “underweight” rating for the company in a research report on Friday. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Vestis presently has an average rating of “Hold” and an average price target of $18.11.

Vestis Price Performance

Shares of VSTS stock traded down $0.06 on Monday, reaching $9.35. 2,807,246 shares of the company’s stock traded hands, compared to its average volume of 2,158,298. The company has a debt-to-equity ratio of 1.69, a quick ratio of 2.16 and a current ratio of 2.51. Vestis has a 12-month low of $8.92 and a 12-month high of $22.37. The business’s 50 day moving average price is $18.38 and its two-hundred day moving average price is $18.72.

Vestis (NYSE:VSTS) last released its earnings results on Thursday, May 2nd. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.09). The firm had revenue of $705.37 million during the quarter, compared to the consensus estimate of $722.54 million. The firm’s revenue was up .9% compared to the same quarter last year. Research analysts forecast that Vestis will post 1.03 EPS for the current year.

Insider Buying and Selling

In other news, CEO Kim Scott bought 15,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were bought at an average price of $19.14 per share, with a total value of $287,100.00. Following the completion of the transaction, the chief executive officer now owns 183,131 shares of the company’s stock, valued at $3,505,127.34. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Institutional Investors Weigh In On Vestis

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sound Income Strategies LLC purchased a new position in shares of Vestis in the fourth quarter valued at $25,000. Parkside Financial Bank & Trust purchased a new stake in shares of Vestis during the 4th quarter valued at approximately $25,000. CI Investments Inc. purchased a new stake in shares of Vestis during the 3rd quarter worth $28,000. Daiwa Securities Group Inc. acquired a new stake in shares of Vestis in the 4th quarter valued at about $34,000. Finally, TFO Wealth Partners LLC acquired a new position in Vestis during the fourth quarter worth approximately $42,000. Institutional investors own 97.40% of the company’s stock.

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.