Vestis Co. (NYSE:VSTS) Receives Consensus Recommendation of “Hold” from Analysts

Vestis Co. (NYSE:VSTS) has received a consensus recommendation of “Hold” from the eleven research firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $16.69.

Several analysts have recently commented on VSTS shares. The Goldman Sachs Group raised their target price on shares of Vestis from $12.50 to $13.80 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. William Blair started coverage on shares of Vestis in a research report on Friday, May 31st. They issued a “market perform” rating for the company. Robert W. Baird cut Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 target price on the stock. in a research report on Thursday, August 8th. Finally, Baird R W cut Vestis from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 8th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. purchased a new stake in Vestis during the 4th quarter worth about $19,377,000. Teacher Retirement System of Texas acquired a new position in shares of Vestis in the fourth quarter valued at approximately $962,000. Dimensional Fund Advisors LP purchased a new position in shares of Vestis during the fourth quarter valued at approximately $30,157,000. Principal Financial Group Inc. acquired a new stake in Vestis during the fourth quarter worth approximately $14,219,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in Vestis in the 4th quarter worth approximately $384,000. 97.40% of the stock is owned by hedge funds and other institutional investors.

Vestis Stock Up 0.9 %

VSTS opened at $15.02 on Monday. Vestis has a 52 week low of $8.92 and a 52 week high of $22.37. The business has a 50 day moving average price of $13.18 and a two-hundred day moving average price of $14.48. The company has a quick ratio of 2.02, a current ratio of 2.37 and a debt-to-equity ratio of 1.67.

Vestis (NYSE:VSTS) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.10 by $0.06. Vestis had a return on equity of 18.00% and a net margin of 4.13%. The business had revenue of $698.20 million during the quarter, compared to analysts’ expectations of $688.33 million. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, equities research analysts predict that Vestis will post 0.64 EPS for the current fiscal year.

Vestis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Friday, September 13th will be paid a $0.035 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.14 dividend on an annualized basis and a yield of 0.93%.

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.