Vestis Corporation (NYSE:VSTS) Given Consensus Recommendation of “Reduce” by Analysts

Shares of Vestis Corporation (NYSE:VSTS) have been given an average recommendation of “Reduce” by the seven ratings firms that are covering the firm, MarketBeat reports. Four research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $9.50.

Several brokerages have issued reports on VSTS. Weiss Ratings cut shares of Vestis from a “sell (d)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. William Blair upgraded shares of Vestis from a “market perform” rating to an “outperform” rating in a report on Tuesday, May 12th. Robert W. Baird increased their target price on Vestis from $10.00 to $14.00 and gave the company a “neutral” rating in a research note on Wednesday, May 13th. Stifel Nicolaus lifted their target price on Vestis from $8.50 to $11.00 and gave the stock a “hold” rating in a report on Wednesday, May 13th. Finally, Barclays boosted their price target on Vestis from $6.00 to $9.00 and gave the stock an “underweight” rating in a research note on Friday, May 15th.

Vestis Stock Up 0.1%

Shares of Vestis stock traded up $0.02 during midday trading on Friday, hitting $14.30. The company had a trading volume of 818,494 shares, compared to its average volume of 1,367,272. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.69 and a current ratio of 2.13. The stock has a market capitalization of $1.89 billion, a P/E ratio of -102.11 and a beta of 0.98. The company has a 50 day moving average of $12.15 and a 200 day moving average of $9.13. Vestis has a 52-week low of $3.98 and a 52-week high of $15.06.

Vestis (NYSE:VSTS) last released its earnings results on Tuesday, May 12th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.09 by $0.07. The business had revenue of $659.44 million for the quarter, compared to the consensus estimate of $655.32 million. Vestis had a positive return on equity of 5.27% and a negative net margin of 0.63%.The company’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.05) earnings per share. On average, equities analysts predict that Vestis will post 0.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Vestis

A number of hedge funds have recently bought and sold shares of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Vestis by 10.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 355,493 shares of the company’s stock valued at $3,519,000 after acquiring an additional 34,809 shares during the last quarter. Acadian Asset Management LLC bought a new position in Vestis during the first quarter valued at approximately $762,000. Creative Planning purchased a new stake in Vestis in the second quarter worth approximately $65,000. JPMorgan Chase & Co. grew its position in Vestis by 739.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 675,770 shares of the company’s stock worth $3,872,000 after purchasing an additional 595,276 shares during the period. Finally, American Century Companies Inc. grew its position in Vestis by 9.8% in the 2nd quarter. American Century Companies Inc. now owns 275,531 shares of the company’s stock worth $1,579,000 after purchasing an additional 24,695 shares during the period. Hedge funds and other institutional investors 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. The company serves manufacturing, hospitality, retail, food processing, food service, pharmaceuticals, healthcare, automotive, and cleanroom industries.