Vestis (NYSE:VSTS) Given New $15.00 Price Target at The Goldman Sachs Group

Vestis (NYSE:VSTS) had its price target boosted by The Goldman Sachs Group from $13.60 to $15.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities research analysts have also recently commented on the company. JPMorgan Chase & Co. increased their price target on Vestis from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Friday. Baird R W lowered shares of Vestis from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 8th. Barclays upped their price target on shares of Vestis from $10.00 to $13.00 and gave the company an “underweight” rating in a research note on Friday. Finally, Robert W. Baird lowered shares of Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 price objective on the stock. in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $17.43.

Vestis Stock Performance

Shares of VSTS stock opened at $16.31 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.36 and a debt-to-equity ratio of 1.40. The company has a market cap of $2.14 billion and a PE ratio of 100.13. Vestis has a 12-month low of $8.92 and a 12-month high of $22.37. The business’s fifty day simple moving average is $14.60 and its 200-day simple moving average is $13.35.

Vestis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Friday, December 13th. Vestis’s payout ratio is 87.51%.

Institutional Trading of Vestis

A number of institutional investors and hedge funds have recently modified their holdings of VSTS. Louisiana State Employees Retirement System lifted its stake in shares of Vestis by 1.5% in the second quarter. Louisiana State Employees Retirement System now owns 66,100 shares of the company’s stock worth $808,000 after buying an additional 1,000 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in shares of 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 during the last quarter. KBC Group NV lifted its position in Vestis by 51.9% during the third quarter. KBC Group NV now owns 4,741 shares of the company’s stock worth $71,000 after buying an additional 1,619 shares in the last quarter. Brooklyn Investment Group acquired a new position in Vestis during the third quarter worth $27,000. Finally, Crossmark Global Holdings Inc. boosted its stake in Vestis by 9.6% during the second quarter. Crossmark Global Holdings Inc. now owns 21,747 shares of the company’s stock worth $266,000 after buying an additional 1,900 shares during the last quarter. Hedge funds and other institutional investors own 97.40% of the company’s stock.

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.