Vestis Co. (NYSE:VSTS) Receives $16.69 Average PT from Analysts

Vestis Co. (NYSE:VSTS) has been given an average recommendation of “Hold” by the eleven research firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $16.69.

A number of research analysts recently issued reports on the company. Robert W. Baird downgraded Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 price objective for the company. in a research note on Thursday, August 8th. Baird R W downgraded Vestis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, The Goldman Sachs Group upped their price target on Vestis from $12.50 to $13.80 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th.

Institutional Trading of Vestis

Several hedge funds and other institutional investors have recently bought and sold shares of VSTS. Vanguard Group Inc. purchased a new stake in Vestis during the 4th quarter valued at $302,586,000. Wellington Management Group LLP purchased a new stake in Vestis during the 4th quarter valued at $56,431,000. AQR Capital Management LLC raised its holdings in Vestis by 223.0% during the 2nd quarter. AQR Capital Management LLC now owns 3,753,889 shares of the company’s stock valued at $45,197,000 after buying an additional 2,591,593 shares during the period. Nomura Holdings Inc. purchased a new stake in Vestis during the 4th quarter valued at $29,995,000. Finally, Madison Avenue Partners LP raised its holdings in Vestis by 1,124.5% during the 4th quarter. Madison Avenue Partners LP now owns 1,346,980 shares of the company’s stock valued at $28,475,000 after buying an additional 1,236,980 shares during the period. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Vestis Trading Up 0.4 %

Shares of NYSE:VSTS opened at $15.03 on Friday. The stock has a 50 day moving average of $14.33 and a 200 day moving average of $13.95. The company has a market cap of $1.98 billion and a PE ratio of 20.31. The company has a current ratio of 2.37, a quick ratio of 2.02 and a debt-to-equity ratio of 1.67. 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 Wednesday, August 7th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.06. The company had revenue of $698.20 million during the quarter, compared to the consensus estimate of $688.33 million. Vestis had a return on equity of 18.00% and a net margin of 4.13%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. As a group, equities research analysts expect that Vestis will post 0.64 EPS for the current year.

Vestis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Friday, September 13th were issued a dividend of $0.035 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.14 annualized dividend and a dividend yield of 0.93%. Vestis’s dividend payout ratio (DPR) is 18.92%.

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.