Vestis Co. (NYSE:VSTS) Given Average Recommendation of “Hold” by Brokerages

Vestis Co. (NYSE:VSTS) has been given an average rating of “Hold” by the nine ratings firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $15.73.

Several equities research analysts have issued reports on VSTS shares. JPMorgan Chase & Co. raised their price target on Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. The Goldman Sachs Group raised their target price on shares of Vestis from $13.60 to $15.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, Barclays upped their price target on shares of Vestis from $10.00 to $13.00 and gave the company an “underweight” rating in a report on Friday, November 22nd.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System grew its holdings in shares of Vestis by 1.5% in 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. grew its stake in Vestis by 104.1% in 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 increased its position in shares of Vestis by 51.9% during the 3rd quarter. KBC Group NV now owns 4,741 shares of the company’s stock worth $71,000 after purchasing an additional 1,619 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of Vestis during the 3rd quarter worth approximately $27,000. Finally, Crossmark Global Holdings Inc. boosted 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 valued at $266,000 after buying an additional 1,900 shares during the last quarter. Institutional investors own 97.40% of the company’s stock.

Vestis Price Performance

Vestis stock opened at $15.84 on Wednesday. Vestis has a fifty-two week low of $8.92 and a fifty-two week 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 1.36. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of 99.01 and a beta of 1.15. The company’s 50 day simple moving average is $15.09 and its 200 day simple moving average is $13.93.

Vestis (NYSE:VSTS) last announced its quarterly earnings results on Thursday, November 21st. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). The firm had revenue of $684.28 million for the quarter, compared to the consensus estimate of $693.54 million. Vestis had a return on equity of 9.07% and a net margin of 0.75%. Vestis’s revenue for the quarter was down 4.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Vestis will post 0.66 EPS for the current year.

Vestis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 13th will be given a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Friday, December 13th. Vestis’s dividend payout ratio is presently 87.50%.

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.