The Goldman Sachs Group Forecasts Strong Price Appreciation for Vestis (NYSE:VSTS) Stock

Vestis (NYSE:VSTS) had its price target boosted by The Goldman Sachs Group from $13.60 to $15.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective would indicate a potential downside of 2.02% from the stock’s previous close.

VSTS has been the topic of several other reports. Barclays increased their price objective on Vestis from $10.00 to $13.00 and gave the company an “underweight” rating in a research report on Friday. Baird R W cut shares of Vestis from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 8th. Robert W. Baird cut shares of Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 target price on the stock. in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Friday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $17.43.

Vestis Price Performance

VSTS stock traded down $0.31 during trading on Friday, hitting $15.31. 98,229 shares of the stock traded hands, compared to its average volume of 2,127,818. The company has a debt-to-equity ratio of 1.67, a quick ratio of 2.02 and a current ratio of 2.37. Vestis has a 1 year low of $8.92 and a 1 year high of $22.37. The firm’s 50 day moving average is $14.58 and its two-hundred day moving average is $13.26.

Institutional Investors Weigh In On Vestis

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its holdings in Vestis by 223.0% in the 2nd quarter. AQR Capital Management LLC now owns 3,753,889 shares of the company’s stock worth $45,197,000 after purchasing an additional 2,591,593 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Vestis by 111.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,631,652 shares of the company’s stock worth $39,212,000 after purchasing an additional 1,384,413 shares during the last quarter. Forest Avenue Capital Management LP purchased a new stake in shares of Vestis in the third quarter worth about $19,486,000. Granite Investment Partners LLC bought a new position in Vestis during the second quarter valued at approximately $13,752,000. Finally, Bayberry Capital Partners LP purchased a new position in Vestis during the 1st quarter valued at approximately $16,380,000. 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.