Vestis (NYSE:VSTS) Price Target Raised to $15.00 at The Goldman Sachs Group

Vestis (NYSE:VSTS) had its price objective upped by The Goldman Sachs Group from $13.60 to $15.00 in a research report released on Friday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

Several other analysts have also recently commented on the company. Robert W. Baird cut Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 target price for the company. in a research report on Thursday, August 8th. Barclays lifted their price objective on Vestis from $10.00 to $13.00 and gave the company an “underweight” rating in a research report on Friday. JPMorgan Chase & Co. lifted their price objective on Vestis from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Baird R W cut Vestis from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Vestis has an average rating of “Hold” and an average target price of $17.43.

Vestis Stock Performance

Shares of Vestis stock opened at $16.02 on Friday. The stock has a market cap of $2.11 billion and a PE ratio of 100.13. The business has a fifty day simple moving average of $14.58 and a 200-day simple moving average of $13.26. The company has a quick ratio of 2.02, a current ratio of 1.73 and a debt-to-equity ratio of 1.40. Vestis has a 12 month low of $8.92 and a 12 month high of $22.37.

Vestis Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.035 per share. The ex-dividend date is Friday, December 13th. This represents a $0.14 annualized dividend and a yield of 0.87%. Vestis’s dividend payout ratio (DPR) is currently 87.51%.

Hedge Funds Weigh In On Vestis

Several institutional investors have recently bought and sold shares of the stock. LMR Partners LLP increased its stake in shares of Vestis by 726.8% in the third quarter. LMR Partners LLP now owns 160,528 shares of the company’s stock worth $2,392,000 after purchasing an additional 141,113 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in shares of Vestis in the first quarter worth about $1,069,000. Private Management Group Inc. increased its stake in shares of Vestis by 9.2% in the second quarter. Private Management Group Inc. now owns 692,394 shares of the company’s stock worth $8,468,000 after purchasing an additional 58,538 shares during the period. Royce & Associates LP increased its stake in shares of Vestis by 10.7% in the third quarter. Royce & Associates LP now owns 689,389 shares of the company’s stock worth $10,272,000 after purchasing an additional 66,621 shares during the period. Finally, Comerica Bank increased its stake in shares of Vestis by 39.8% in the first quarter. Comerica Bank now owns 168,552 shares of the company’s stock worth $3,248,000 after purchasing an additional 47,996 shares during the period. 97.40% of the stock is currently owned by institutional investors.

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.