Vestis (NYSE:VSTS) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Vestis (NYSE:VSTS) had its price objective lifted by JPMorgan Chase & Co. from $15.00 to $16.00 in a research report report published on Friday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Other equities research analysts have also issued research reports about the stock. The Goldman Sachs Group increased their price objective on shares of Vestis from $12.50 to $13.80 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Robert W. Baird lowered Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 target price for the company. in a research report on Thursday, August 8th. Barclays lifted their target price on Vestis from $10.00 to $13.00 and gave the stock an “underweight” rating in a report on Friday. Finally, Baird R W downgraded shares of Vestis from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Vestis presently has an average rating of “Hold” and an average target price of $17.43.

Vestis Price Performance

Shares of Vestis stock opened at $16.02 on Friday. Vestis has a 1-year low of $8.92 and a 1-year high of $22.37. The firm’s 50-day moving average price is $14.60 and its two-hundred day moving average price is $13.33. The company has a current ratio of 1.73, a quick ratio of 2.02 and a debt-to-equity ratio of 1.40. The stock has a market capitalization of $2.11 billion and a price-to-earnings ratio of 100.13.

Vestis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 13th will be paid a $0.035 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.14 dividend on an annualized basis and a yield of 0.87%. Vestis’s dividend payout ratio (DPR) is currently 87.51%.

Hedge Funds Weigh In On Vestis

A number of large investors have recently made changes to their positions in the company. Louisiana State Employees Retirement System increased its position in Vestis by 1.5% during the second quarter. Louisiana State Employees Retirement System now owns 66,100 shares of the company’s stock worth $808,000 after acquiring an additional 1,000 shares during the period. Nomura Asset Management Co. Ltd. increased its holdings in shares of 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 purchasing an additional 1,020 shares during the period. KBC Group NV raised its position in shares of Vestis by 51.9% in the third quarter. KBC Group NV now owns 4,741 shares of the company’s stock valued at $71,000 after buying an additional 1,619 shares in the last quarter. Brooklyn Investment Group bought a new stake in shares of Vestis in the third quarter valued at approximately $27,000. Finally, Crossmark Global Holdings Inc. grew its position in Vestis by 9.6% during the second quarter. Crossmark Global Holdings Inc. now owns 21,747 shares of the company’s stock worth $266,000 after buying an additional 1,900 shares in the last quarter. Institutional investors own 97.40% of the company’s stock.

About Vestis

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.