Vestis Co. (NYSE:VSTS) Receives Consensus Recommendation of “Hold” from Analysts

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

Several equities research analysts have weighed in on VSTS shares. The Goldman Sachs Group upped their target price on Vestis from $12.50 to $13.80 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. William Blair started coverage on Vestis in a research note on Friday, May 31st. They set a “market perform” rating for the company. Robert W. Baird cut Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 target price for the company. in a research note on Thursday, August 8th. Finally, Baird R W cut Vestis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 8th.

Vestis Trading Up 0.7 %

Vestis stock opened at $15.71 on Monday. Vestis has a 12 month low of $8.92 and a 12 month high of $22.37. The stock’s 50 day moving average is $13.51 and its 200-day moving average is $14.37. 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 (NYSE:VSTS) last posted its earnings results on Wednesday, August 7th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.10 by $0.06. The company had revenue of $698.20 million for the quarter, compared to the consensus estimate of $688.33 million. Vestis had a return on equity of 18.00% and a net margin of 4.13%. The company’s revenue was down 1.6% compared to the same quarter last year. As a group, sell-side analysts expect that Vestis will post 0.64 EPS for the current fiscal year.

Vestis Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Friday, September 13th will be given a dividend of $0.035 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.14 annualized dividend and a dividend yield of 0.89%.

Institutional Investors Weigh In On Vestis

Hedge funds have recently modified their holdings of the stock. DAVENPORT & Co LLC bought a new stake in shares of Vestis in the 1st quarter worth approximately $21,712,000. Hsbc Holdings PLC bought a new stake in shares of Vestis in the 4th quarter worth approximately $4,646,000. Madison Avenue Partners LP raised its holdings in shares of Vestis by 1,124.5% in the 4th quarter. Madison Avenue Partners LP now owns 1,346,980 shares of the company’s stock worth $28,475,000 after purchasing an additional 1,236,980 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Vestis by 2,290.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 101,064 shares of the company’s stock worth $1,948,000 after purchasing an additional 96,836 shares during the period. Finally, Lord Abbett & CO. LLC bought a new stake in shares of Vestis in the 1st quarter worth approximately $7,364,000. 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.