Barclays Issues Positive Forecast for Vestis (NYSE:VSTS) Stock Price

Vestis (NYSE:VSTS) had its target price increased by Barclays from $10.00 to $13.00 in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has an underweight rating on the stock.

VSTS has been the subject of a number of other reports. Baird R W lowered shares of Vestis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 8th. Robert W. Baird lowered shares of 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, The Goldman Sachs Group upped their target price on shares of Vestis from $12.50 to $13.80 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Vestis presently has an average rating of “Hold” and a consensus price target of $17.43.

Vestis Price Performance

Shares of NYSE VSTS opened at $16.02 on Friday. The firm has a market cap of $2.11 billion and a PE ratio of 100.13. The company has a current ratio of 1.73, a quick ratio of 2.02 and a debt-to-equity ratio of 1.40. Vestis has a 1-year low of $8.92 and a 1-year high of $22.37. The company has a fifty day moving average price of $14.58 and a 200 day moving average price of $13.26.

Vestis Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.87%. Vestis’s dividend payout ratio is 87.51%.

Institutional Investors Weigh In On Vestis

Hedge funds have recently bought and sold shares of the company. LMR Partners LLP lifted its stake in Vestis by 726.8% in the 3rd quarter. LMR Partners LLP now owns 160,528 shares of the company’s stock valued at $2,392,000 after purchasing an additional 141,113 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in Vestis in the 1st quarter valued at about $1,069,000. Private Management Group Inc. lifted its stake in Vestis by 9.2% in the 2nd quarter. Private Management Group Inc. now owns 692,394 shares of the company’s stock valued at $8,468,000 after purchasing an additional 58,538 shares during the last quarter. Royce & Associates LP lifted its stake in Vestis by 10.7% in the 3rd quarter. Royce & Associates LP now owns 689,389 shares of the company’s stock valued at $10,272,000 after purchasing an additional 66,621 shares during the last quarter. Finally, Comerica Bank lifted its stake in Vestis by 39.8% in the 1st quarter. Comerica Bank now owns 168,552 shares of the company’s stock valued at $3,248,000 after purchasing an additional 47,996 shares during the last quarter. 97.40% of the stock is currently owned by institutional investors and hedge funds.

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.