Vestis Co. (NYSE:VSTS) Receives Average Rating of “Hold” from Analysts

Vestis Co. (NYSE:VSTSGet Free Report) has received a consensus rating of “Hold” from the nine brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $15.73.

VSTS has been the topic of several recent research reports. Barclays upped their price target on Vestis from $10.00 to $13.00 and gave the stock an “underweight” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. upped their target price on shares of Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Finally, The Goldman Sachs Group lifted their price target on shares of Vestis from $13.60 to $15.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd.

Check Out Our Latest Report on Vestis

Vestis Trading Down 2.2 %

NYSE VSTS opened at $15.36 on Wednesday. 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 firm has a market cap of $2.02 billion, a price-to-earnings ratio of 96.01 and a beta of 1.17. The firm has a 50 day simple moving average of $15.13 and a 200-day simple moving average of $14.03. Vestis has a one year low of $8.92 and a one year high of $22.37.

Vestis (NYSE:VSTSGet Free Report) last issued its quarterly earnings results on Thursday, November 21st. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.02). The business had revenue of $684.28 million during the quarter, compared to analysts’ expectations of $693.54 million. Vestis had a net margin of 0.75% and a return on equity of 9.07%. Vestis’s revenue was down 4.4% on a year-over-year basis. Equities research analysts anticipate that Vestis will post 0.66 EPS for the current fiscal year.

Vestis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.035 per share. The ex-dividend date is Friday, December 13th. This represents a $0.14 dividend on an annualized basis and a yield of 0.91%. Vestis’s payout ratio is currently 87.50%.

Institutional Investors Weigh In On Vestis

Institutional investors and hedge funds have recently bought and sold shares of the stock. Brooklyn Investment Group purchased a new stake in shares of Vestis in the 3rd quarter valued at about $27,000. Nomura Asset Management Co. Ltd. increased its position in Vestis by 104.1% during the third quarter. Nomura Asset Management Co. Ltd. now owns 2,000 shares of the company’s stock worth $30,000 after buying an additional 1,020 shares during the period. Capital Performance Advisors LLP purchased a new stake in Vestis in the third quarter valued at approximately $41,000. Canada Pension Plan Investment Board acquired a new stake in shares of Vestis in the second quarter valued at approximately $44,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Vestis during the third quarter worth approximately $51,000. 97.40% of the stock is owned by hedge funds and other institutional investors.

About Vestis

(Get Free Report

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.

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Analyst Recommendations for Vestis (NYSE:VSTS)

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