Vestis (NYSE:VSTS) Price Target Lowered to $13.00 at Robert W. Baird

Vestis (NYSE:VSTS) had its price target cut by Robert W. Baird from $17.00 to $13.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a neutral rating on the stock.

Several other research analysts also recently weighed in on VSTS. JPMorgan Chase & Co. upped their price objective on shares of Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Barclays upped their price objective on shares of Vestis from $10.00 to $13.00 and gave the stock an “underweight” rating in a report on Friday, November 22nd. Finally, The Goldman Sachs Group lowered their price objective on shares of Vestis from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Monday, March 17th. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $13.68.

Vestis Stock Down 1.6 %

Vestis stock opened at $9.99 on Thursday. The company has a quick ratio of 1.43, a current ratio of 1.80 and a debt-to-equity ratio of 1.39. The firm’s fifty day moving average is $13.40 and its 200 day moving average is $14.53. Vestis has a 12-month low of $8.92 and a 12-month high of $19.76. The company has a market capitalization 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 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. Vestis had a net margin of 0.34% and a return on equity of 7.91%. During the same quarter in the prior year, the business earned $0.22 EPS. As a group, sell-side analysts predict that Vestis will post 0.7 EPS for the current fiscal year.

Vestis Dividend Announcement

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

Institutional Trading of Vestis

Several institutional investors and hedge funds have recently made changes to their positions in VSTS. Brooklyn Investment Group purchased a new stake in shares of Vestis in the third quarter valued at about $27,000. Spire Wealth Management bought a new position in Vestis during the fourth quarter valued at about $29,000. True Wealth Design LLC bought a new position in Vestis during the fourth quarter valued at about $29,000. Nomura Asset Management Co. Ltd. grew its position 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 buying an additional 1,020 shares during the period. Finally, Smartleaf Asset Management LLC grew its position in Vestis by 548.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,510 shares of the company’s stock valued at $38,000 after buying an additional 2,123 shares during the period. Hedge funds and other 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.