Analysts Set Vestis Co. (NYSE:VSTS) Target Price at $16.69

Shares of Vestis Co. (NYSE:VSTS) have earned an average recommendation of “Hold” from the eleven brokerages that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $16.69.

A number of analysts have issued reports on VSTS shares. Robert W. Baird lowered Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 price target on the stock. in a research note on Thursday, August 8th. Baird R W downgraded shares of Vestis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, The Goldman Sachs Group raised their price objective on shares of Vestis from $12.50 to $13.80 and gave the stock a “neutral” rating in a report on Tuesday, August 20th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. DAVENPORT & Co LLC acquired a new position in shares of Vestis in the 1st quarter valued at about $21,712,000. Lord Abbett & CO. LLC acquired a new position in shares of Vestis in the 1st quarter valued at about $7,364,000. SG Americas Securities LLC boosted its holdings in shares of Vestis by 617.8% in the 1st quarter. SG Americas Securities LLC now owns 75,697 shares of the company’s stock valued at $1,459,000 after buying an additional 65,151 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in shares of Vestis in the 1st quarter valued at about $1,069,000. Finally, Illinois Municipal Retirement Fund acquired a new position in shares of Vestis in the 1st quarter valued at about $1,457,000. 97.40% of the stock is owned by institutional investors and hedge funds.

Vestis Stock Up 0.5 %

Shares of VSTS stock opened at $14.12 on Tuesday. The company has a current ratio of 2.37, a quick ratio of 2.02 and a debt-to-equity ratio of 1.67. The business’s 50 day moving average is $14.66 and its two-hundred day moving average is $13.39. Vestis has a twelve month low of $8.92 and a twelve month high of $22.37.

Vestis (NYSE:VSTS) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.16 earnings per share (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 firm had revenue of $698.20 million during the quarter, compared to analysts’ expectations of $688.33 million. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. Sell-side analysts expect that Vestis will post 0.64 earnings per share for the current year.

Vestis Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Friday, September 13th were issued a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Friday, September 13th.

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.