Vestis Co. (NYSE:VSTS) Given Consensus Rating of “Reduce” by Analysts

Shares of Vestis Co. (NYSE:VSTS) have received an average recommendation of “Reduce” from the eight brokerages that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating and seven have given a hold rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $14.08.

A number of research firms recently weighed in on VSTS. The Goldman Sachs Group raised their target price on shares of Vestis from $13.60 to $15.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Barclays lifted their price objective on shares of Vestis from $10.00 to $13.00 and gave the stock an “underweight” rating in a research note on Friday, November 22nd. Finally, JPMorgan Chase & Co. upped their target price on shares of Vestis from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd.

Hedge Funds Weigh In On Vestis

Several hedge funds have recently added to or reduced their stakes in VSTS. Truist Financial Corp bought a new stake in Vestis in the second quarter worth about $224,000. GAMMA Investing LLC lifted its stake in shares of Vestis by 143.5% during the 3rd quarter. GAMMA Investing LLC now owns 3,960 shares of the company’s stock worth $59,000 after acquiring an additional 2,334 shares during the last quarter. CWM LLC boosted its holdings in Vestis by 253.7% during the 3rd quarter. CWM LLC now owns 46,834 shares of the company’s stock valued at $698,000 after acquiring an additional 33,594 shares during the period. Allspring Global Investments Holdings LLC grew its position in Vestis by 357.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 43,390 shares of the company’s stock valued at $647,000 after acquiring an additional 33,911 shares during the last quarter. Finally, Everence Capital Management Inc. increased its stake in Vestis by 17.5% in the third quarter. Everence Capital Management Inc. now owns 14,210 shares of the company’s stock worth $212,000 after purchasing an additional 2,120 shares during the period. 97.40% of the stock is currently owned by institutional investors.

Vestis Stock Down 0.1 %

Shares of VSTS stock opened at $13.75 on Thursday. The stock has a market cap of $1.81 billion, a P/E ratio of 171.90 and a beta of 1.16. The company’s fifty day simple moving average is $15.66 and its two-hundred day simple moving average is $14.79. The company has a quick ratio of 1.43, a current ratio of 1.80 and a debt-to-equity ratio of 1.39. Vestis has a 52 week low of $8.92 and a 52 week high of $20.07.

Vestis (NYSE:VSTS) last announced its quarterly earnings results on Friday, January 31st. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. Vestis had a return on equity of 7.91% and a net margin of 0.34%. During the same quarter last year, the firm earned $0.22 earnings per share. Analysts predict that Vestis will post 0.7 EPS for the current fiscal year.

Vestis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Friday, February 21st will be issued a $0.035 dividend. The ex-dividend date is Friday, February 21st. This represents a $0.14 annualized dividend and a dividend yield of 1.02%. Vestis’s dividend payout ratio (DPR) is presently 175.02%.

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.