Barclays Raises Vestis (NYSE:VSTS) Price Target to $13.00

Vestis (NYSE:VSTS) had its price objective increased by analysts at Barclays from $10.00 to $13.00 in a report released on Friday,Benzinga reports. The firm currently has an “underweight” rating on the stock. Barclays‘s price objective would indicate a potential downside of 18.85% from the company’s previous close.

A number of other equities analysts have also commented on the company. The Goldman Sachs Group lifted their price objective on Vestis from $12.50 to $13.80 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Baird R W downgraded Vestis from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 8th. Finally, Robert W. Baird cut Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 price objective for the company. in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.43.

Vestis Stock Performance

NYSE:VSTS opened at $16.02 on Friday. The firm has a market capitalization of $2.11 billion and a PE ratio of 100.13. The company has a current ratio of 1.73, a quick ratio of 2.02 and a debt-to-equity ratio of 1.40. Vestis has a 1 year low of $8.92 and a 1 year high of $22.37. The firm’s fifty day simple moving average is $14.60 and its 200 day simple moving average is $13.30.

Institutional Investors Weigh In On Vestis

Institutional investors and hedge funds have recently bought and sold shares of the business. Louisiana State Employees Retirement System boosted its position in shares of Vestis by 1.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 66,100 shares of the company’s stock valued at $808,000 after acquiring an additional 1,000 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in Vestis by 104.1% during the third quarter. Nomura Asset Management Co. Ltd. now owns 2,000 shares of the company’s stock valued at $30,000 after purchasing an additional 1,020 shares in the last quarter. KBC Group NV grew its stake in shares of Vestis by 51.9% in the 3rd quarter. KBC Group NV now owns 4,741 shares of the company’s stock valued at $71,000 after purchasing an additional 1,619 shares during the period. Brooklyn Investment Group bought a new stake in shares of Vestis in the 3rd quarter valued at approximately $27,000. Finally, Crossmark Global Holdings Inc. raised its holdings in shares of Vestis by 9.6% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 21,747 shares of the company’s stock worth $266,000 after buying an additional 1,900 shares in the last quarter. Institutional investors own 97.40% of the company’s stock.

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.