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

Shares of Vestis Corporation (NYSE:VSTS) have earned an average rating of “Reduce” from the seven brokerages that are presently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $9.50.

Several research analysts have recently weighed in on the company. Robert W. Baird upped their price objective on Vestis from $10.00 to $14.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 13th. Barclays upped their price objective on Vestis from $6.00 to $9.00 and gave the stock an “underweight” rating in a research report on Friday, May 15th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $7.50 price objective on shares of Vestis in a research report on Wednesday, May 13th. Stifel Nicolaus upped their price objective on Vestis from $8.50 to $11.00 and gave the stock a “hold” rating in a research report on Wednesday, May 13th. Finally, William Blair raised Vestis from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 12th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of VSTS. Private Management Group Inc. raised its holdings in Vestis by 6.1% during the third quarter. Private Management Group Inc. now owns 2,589,626 shares of the company’s stock worth $11,731,000 after acquiring an additional 149,908 shares in the last quarter. SG Americas Securities LLC raised its holdings in Vestis by 1,506.6% during the fourth quarter. SG Americas Securities LLC now owns 295,000 shares of the company’s stock worth $1,968,000 after acquiring an additional 276,638 shares in the last quarter. Allianz Asset Management GmbH raised its holdings in Vestis by 22.6% during the third quarter. Allianz Asset Management GmbH now owns 700,798 shares of the company’s stock worth $3,175,000 after acquiring an additional 129,415 shares in the last quarter. Medina Value Partners LLC bought a new stake in Vestis during the third quarter worth about $6,469,000. Finally, Counterpoint Mutual Funds LLC raised its holdings in Vestis by 481.9% during the third quarter. Counterpoint Mutual Funds LLC now owns 720,944 shares of the company’s stock worth $3,266,000 after acquiring an additional 597,056 shares in the last quarter. 97.40% of the stock is owned by institutional investors and hedge funds.

Vestis Stock Up 1.2%

NYSE:VSTS opened at $11.75 on Friday. Vestis has a 1 year low of $3.98 and a 1 year high of $12.60. The company has a current ratio of 2.13, a quick ratio of 1.69 and a debt-to-equity ratio of 1.44. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of -83.89 and a beta of 0.85. The stock has a 50-day moving average price of $9.18 and a two-hundred day moving average price of $7.63.

Vestis (NYSE:VSTS) last posted its earnings results on Tuesday, May 12th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.07. Vestis had a positive return on equity of 5.27% and a negative net margin of 0.63%.The firm had revenue of $659.44 million during the quarter, compared to analysts’ expectations of $655.32 million. During the same period in the previous year, the firm earned ($0.05) earnings per share. The company’s revenue was down .9% on a year-over-year basis. As a group, equities analysts expect that Vestis will post 0.52 earnings per share for the current year.

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.