Vestis Co. (NYSE:VSTS) Receives $16.69 Consensus Target Price from Analysts

Shares of Vestis Co. (NYSE:VSTS) have been assigned an average recommendation of “Hold” from the eleven ratings firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $16.69.

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group upped their target price on shares of Vestis from $12.50 to $13.80 and gave the company 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 report on Thursday, August 8th. Finally, Robert W. Baird downgraded Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 price target for the company. in a report on Thursday, August 8th.

Institutional Trading of Vestis

Large investors have recently added to or reduced their stakes in the business. G2 Investment Partners Management LLC purchased a new position in Vestis during the 4th quarter worth approximately $2,125,000. Park West Asset Management LLC purchased a new position in shares of Vestis during the fourth quarter valued at $21,283,000. Prelude Capital Management LLC acquired a new position in Vestis during the fourth quarter valued at $8,681,000. Palisade Capital Management LP purchased a new stake in Vestis in the 4th quarter worth about $15,801,000. Finally, Madison Avenue Partners LP boosted its position in Vestis by 1,124.5% during the 4th quarter. Madison Avenue Partners LP now owns 1,346,980 shares of the company’s stock worth $28,475,000 after acquiring an additional 1,236,980 shares during the period. 97.40% of the stock is currently owned by institutional investors.

Vestis Trading Up 1.2 %

Shares of NYSE VSTS opened at $14.94 on Friday. The company has a quick ratio of 2.02, a current ratio of 2.37 and a debt-to-equity ratio of 1.67. Vestis has a 1-year low of $8.92 and a 1-year high of $22.37. The business has a 50-day moving average of $14.22 and a 200-day moving average of $14.05.

Vestis (NYSE:VSTS) last posted its earnings results on Wednesday, August 7th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.06. The business had revenue of $698.20 million for the quarter, compared to analysts’ expectations of $688.33 million. Vestis had a net margin of 4.13% and a return on equity of 18.00%. Vestis’s revenue was down 1.6% on a year-over-year basis. As a group, equities analysts anticipate that Vestis will post 0.64 EPS for the current year.

Vestis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Friday, September 13th were paid a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend was Friday, September 13th.

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.