Vestis (NYSE:VSTS) Price Target Cut to $10.00 by Analysts at Barclays

Vestis (NYSE:VSTS) had its price target lowered by Barclays from $13.00 to $10.00 in a report released on Friday morning,Benzinga reports. The brokerage currently has an underweight rating on the stock.

A number of other equities research analysts have also weighed in on VSTS. Robert W. Baird lowered their target price on shares of Vestis from $17.00 to $13.00 and set a “neutral” rating on the stock in a report on Thursday, March 20th. The Goldman Sachs Group dropped their target price on Vestis from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Monday, March 17th. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $13.08.

Vestis Stock Down 12.3 %

Shares of NYSE:VSTS opened at $7.93 on Friday. The firm has a market cap of $1.04 billion, a P/E ratio of 99.15 and a beta of 1.40. Vestis has a 52-week low of $7.89 and a 52-week high of $19.76. The business’s 50 day simple moving average is $12.10 and its two-hundred day simple moving average is $14.19. 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 posted its quarterly earnings results on Friday, January 31st. The company reported $0.14 earnings per share (EPS) for the quarter, beating 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 prior year, the company posted $0.22 earnings per share. As a group, research analysts forecast that Vestis will post 0.7 EPS for the current fiscal year.

Vestis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Friday, February 21st were given a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date was Friday, February 21st. Vestis’s dividend payout ratio is currently 175.00%.

Hedge Funds Weigh In On Vestis

Several institutional investors have recently bought and sold shares of VSTS. Spire Wealth Management bought a new stake in shares of Vestis in the fourth quarter valued at $29,000. True Wealth Design LLC purchased a new stake in Vestis in the 4th quarter worth about $29,000. Nomura Asset Management Co. Ltd. raised its stake in Vestis by 104.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,000 shares of the company’s stock valued at $30,000 after acquiring an additional 1,020 shares during the period. Smartleaf Asset Management LLC lifted its holdings in Vestis by 548.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,510 shares of the company’s stock valued at $38,000 after purchasing an additional 2,123 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Vestis in the third quarter worth about $51,000. Hedge funds and other 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.