Robert W. Baird Has Lowered Expectations for Vestis (NYSE:VSTS) Stock Price

Vestis (NYSE:VSTS) had its price objective dropped by equities research analysts at Robert W. Baird from $17.00 to $13.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Robert W. Baird’s price target indicates a potential upside of 30.13% from the company’s previous close.

VSTS has been the subject of a number of other reports. The Goldman Sachs Group decreased their price target on shares of Vestis from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Monday, March 17th. JPMorgan Chase & Co. raised their target price on Vestis from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Finally, 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. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $13.68.

Vestis Stock Down 1.6 %

VSTS opened at $9.99 on Thursday. The firm has a market cap of $1.32 billion, a P/E ratio of 124.89 and a beta of 1.40. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.43 and a current ratio of 1.80. The business has a 50 day moving average price of $13.40 and a 200 day moving average price of $14.53. Vestis has a twelve month low of $8.92 and a twelve month high of $19.76.

Vestis (NYSE:VSTS) last released its quarterly earnings results on Friday, January 31st. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. Vestis had a net margin of 0.34% and a return on equity of 7.91%. During the same period last year, the business earned $0.22 EPS. Research analysts forecast that Vestis will post 0.7 EPS for the current year.

Institutional Trading of Vestis

A number of institutional investors and hedge funds have recently modified their holdings of VSTS. Brooklyn Investment Group bought a new stake in Vestis in the 3rd quarter valued at $27,000. Spire Wealth Management acquired a new stake in shares of Vestis during the 4th quarter valued at about $29,000. True Wealth Design LLC bought a new stake in Vestis in the fourth quarter valued at about $29,000. Nomura Asset Management Co. Ltd. raised its position in Vestis by 104.1% in 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 in the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in Vestis by 548.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,510 shares of the company’s stock worth $38,000 after purchasing an additional 2,123 shares during the period. 97.40% of the stock is currently owned by institutional investors.

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.