Vestis Co. (NYSE:VSTS) Given Average Rating of “Reduce” by Brokerages

Shares of Vestis Co. (NYSE:VSTS) have received a consensus rating of “Reduce” from the eight research firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $14.08.

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

Vestis Stock Down 1.5 %

Shares of VSTS opened at $16.21 on Friday. The stock has a market capitalization of $2.13 billion, a PE ratio of 101.30 and a beta of 1.17. Vestis has a 1 year low of $8.92 and a 1 year high of $22.37. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.36 and a current ratio of 1.73. The company’s 50-day simple moving average is $15.69 and its 200-day simple moving average is $14.44.

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

Vestis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 13th were paid a $0.035 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.14 annualized dividend and a yield of 0.86%. Vestis’s dividend payout ratio is currently 87.51%.

Hedge Funds Weigh In On Vestis

Several hedge funds have recently added to or reduced their stakes in the stock. Annex Advisory Services LLC increased its stake in Vestis by 13.5% in the fourth quarter. Annex Advisory Services LLC now owns 293,899 shares of the company’s stock valued at $4,479,000 after purchasing an additional 34,951 shares during the last quarter. Merit Financial Group LLC purchased a new position in shares of Vestis during the fourth quarter worth approximately $234,000. Pallas Capital Advisors LLC grew its position in shares of Vestis by 13.9% during the fourth quarter. Pallas Capital Advisors LLC now owns 26,868 shares of the company’s stock worth $409,000 after acquiring an additional 3,287 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Vestis by 3.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 45,687 shares of the company’s stock worth $681,000 after acquiring an additional 1,735 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Vestis by 17.9% during the fourth quarter. GAMMA Investing LLC now owns 4,670 shares of the company’s stock worth $71,000 after acquiring an additional 710 shares during the last quarter. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

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.