JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Vestis (NYSE:VSTS) Stock

Vestis (NYSE:VSTS) had its price objective hoisted by research analysts at JPMorgan Chase & Co. from $15.00 to $16.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential downside of 0.12% from the stock’s current price.

VSTS has been the topic of several other research reports. The Goldman Sachs Group raised their price objective on Vestis from $12.50 to $13.80 and gave the company a “neutral” rating in a report on Tuesday, August 20th. 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 Vestis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, Barclays lifted their target price on shares of Vestis from $10.00 to $13.00 and gave the stock an “underweight” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $17.43.

Vestis Price Performance

Shares of NYSE:VSTS opened at $16.02 on Friday. Vestis has a one year low of $8.92 and a one year high of $22.37. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.73 and a quick ratio of 2.02. The company has a market cap of $2.11 billion and a price-to-earnings ratio of 100.13. The firm has a 50 day simple moving average of $14.60 and a 200 day simple moving average of $13.30.

Institutional Trading of Vestis

A number of institutional investors have recently bought and sold shares of the company. Barclays PLC lifted its stake in shares of Vestis by 445.4% in the 3rd quarter. Barclays PLC now owns 51,981 shares of the company’s stock valued at $774,000 after purchasing an additional 42,450 shares during the period. M&T Bank Corp acquired a new stake in Vestis during the third quarter worth approximately $169,000. Public Employees Retirement System of Ohio increased its holdings in Vestis by 105.2% in the third quarter. Public Employees Retirement System of Ohio now owns 122,255 shares of the company’s stock worth $1,822,000 after purchasing an additional 62,675 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Vestis by 104.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,000 shares of the company’s stock worth $30,000 after buying an additional 1,020 shares in the last quarter. Finally, Weiss Asset Management LP bought a new position in shares of Vestis during the 3rd quarter worth approximately $1,232,000. 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.