Analysts Set Vestis Co. (NYSE:VSTS) Target Price at $13.68

Vestis Co. (NYSE:VSTS) has been assigned a consensus recommendation of “Reduce” from the eight ratings firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and seven have issued a hold recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $13.68.

Several brokerages recently issued reports on VSTS. The Goldman Sachs Group decreased their price target on Vestis from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Monday, March 17th. Robert W. Baird decreased their target price on Vestis from $17.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday. Barclays increased their price target on Vestis from $10.00 to $13.00 and gave the stock an “underweight” rating in a research note on Friday, November 22nd. Finally, JPMorgan Chase & Co. increased their price target on Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd.

Hedge Funds Weigh In On Vestis

A number of large investors have recently bought and sold shares of the stock. Sigma Planning Corp bought a new stake in shares of Vestis in the 3rd quarter worth approximately $159,000. Victory Capital Management Inc. grew its position in shares of Vestis by 12.2% in the 3rd quarter. Victory Capital Management Inc. now owns 63,551 shares of the company’s stock worth $947,000 after buying an additional 6,916 shares during the last quarter. KBC Group NV grew its position in shares of Vestis by 51.9% in the 3rd quarter. KBC Group NV now owns 4,741 shares of the company’s stock worth $71,000 after buying an additional 1,619 shares during the last quarter. Royce & Associates LP grew its position in shares of Vestis by 10.7% in the 3rd quarter. Royce & Associates LP now owns 689,389 shares of the company’s stock worth $10,272,000 after buying an additional 66,621 shares during the last quarter. Finally, LMR Partners LLP boosted its position in shares of Vestis by 726.8% during the third quarter. LMR Partners LLP now owns 160,528 shares of the company’s stock valued at $2,392,000 after purchasing an additional 141,113 shares in the last quarter. 97.40% of the stock is owned by hedge funds and other institutional investors.

Vestis Price Performance

Shares of VSTS opened at $9.99 on Monday. Vestis has a 52-week low of $8.92 and a 52-week high of $19.76. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.43 and a current ratio of 1.80. The business’s 50 day moving average price is $13.40 and its two-hundred day moving average price is $14.53. The firm has a market cap of $1.32 billion, a PE ratio of 124.89 and a beta of 1.40.

Vestis (NYSE:VSTS) last released its quarterly earnings data on Friday, January 31st. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. Vestis had a return on equity of 7.91% and a net margin of 0.34%. During the same quarter in the prior year, the business earned $0.22 earnings per share. On average, equities analysts anticipate that Vestis will post 0.7 EPS for the current year.

Vestis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Friday, February 21st were issued a dividend of $0.035 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.40%. Vestis’s dividend payout ratio is 175.00%.

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.