Vestis (NYSE:VSTS) Sets New 1-Year High – Time to Buy?

Vestis Corporation (NYSE:VSTS) shares reached a new 52-week high on Wednesday . The stock traded as high as $15.28 and last traded at $15.2990, with a volume of 26632 shares traded. The stock had previously closed at $14.74.

Analysts Set New Price Targets

Several analysts have recently issued reports on VSTS shares. Stifel Nicolaus boosted their price target on shares of Vestis from $8.50 to $11.00 and gave the company a “hold” rating in a research report on Wednesday, May 13th. William Blair raised shares of Vestis from a “market perform” rating to an “outperform” rating in a report on Tuesday, May 12th. The Goldman Sachs Group reissued a “sell” rating and set a $7.50 target price on shares of Vestis in a report on Wednesday, May 13th. Barclays increased their target price on Vestis from $6.00 to $9.00 and gave the stock an “underweight” rating in a research report on Friday, May 15th. Finally, Weiss Ratings lowered Vestis from a “sell (d)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $9.50.

Vestis Stock Up 5.7%

The stock’s fifty day moving average is $13.07 and its two-hundred day moving average is $9.64. 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 firm has a market cap of $2.17 billion, a P/E ratio of -117.08 and a beta of 0.98.

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

Hedge Funds Weigh In On Vestis

A number of institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC grew its holdings in shares of 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 purchasing an additional 276,638 shares in the last quarter. Pacific Point Advisors LLC lifted its position in Vestis by 603.8% during the fourth quarter. Pacific Point Advisors LLC now owns 214,686 shares of the company’s stock valued at $1,432,000 after purchasing an additional 184,181 shares during the last quarter. QSM Asset Management Ltd increased its holdings in shares of Vestis by 25.0% in the 4th quarter. QSM Asset Management Ltd now owns 380,072 shares of the company’s stock worth $2,535,000 after buying an additional 76,036 shares during the last quarter. UBS Group AG increased its holdings in shares of Vestis by 121.2% in the 4th quarter. UBS Group AG now owns 885,984 shares of the company’s stock worth $5,910,000 after buying an additional 485,396 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Vestis by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 9,960,651 shares of the company’s stock valued at $66,438,000 after buying an additional 346,736 shares in the last quarter. 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. The company serves manufacturing, hospitality, retail, food processing, food service, pharmaceuticals, healthcare, automotive, and cleanroom industries.