Vestis Co. (NYSE:VSTS) Receives $13.68 Consensus PT from Brokerages

Shares of Vestis Co. (NYSE:VSTS) have been assigned an average rating of “Reduce” from the eight brokerages that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $13.68.

A number of analysts recently commented on the company. Barclays upped their price objective on Vestis from $10.00 to $13.00 and gave the company an “underweight” rating in a research report on Friday, November 22nd. Robert W. Baird dropped their price objective on Vestis from $17.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday. JPMorgan Chase & Co. upped their price objective on 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 dropped their price target on Vestis from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Monday, March 17th.

Vestis Stock Down 1.6 %

VSTS stock opened at $9.99 on Monday. Vestis has a 1-year low of $8.92 and a 1-year high of $19.76. The business has a fifty day moving average price of $13.40 and a 200-day moving average price of $14.53. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.80 and a quick ratio of 1.43. The stock has a market capitalization of $1.32 billion, a P/E ratio of 124.89 and a beta of 1.40.

Vestis (NYSE:VSTS) last posted its quarterly earnings results on Friday, January 31st. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. Vestis had a return on equity of 7.91% and a net margin of 0.34%. During the same period in the previous year, the company earned $0.22 earnings per share. Equities analysts forecast that Vestis will post 0.7 earnings per share for the current fiscal year.

Vestis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Friday, February 21st were given a dividend of $0.035 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.14 annualized dividend and a yield of 1.40%. Vestis’s dividend payout ratio (DPR) is presently 175.00%.

Institutional Trading of Vestis

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Pacer Advisors Inc. bought a new stake in Vestis during the 4th quarter valued at $210,766,000. AQR Capital Management LLC boosted its position in shares of Vestis by 47.4% in the 4th quarter. AQR Capital Management LLC now owns 3,125,669 shares of the company’s stock worth $47,635,000 after purchasing an additional 1,004,497 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Vestis by 46.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,095,278 shares of the company’s stock worth $47,172,000 after purchasing an additional 980,303 shares in the last quarter. Millennium Management LLC boosted its position in shares of Vestis by 179.4% in the 4th quarter. Millennium Management LLC now owns 3,003,762 shares of the company’s stock worth $45,777,000 after purchasing an additional 1,928,687 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of Vestis by 2.3% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,691,476 shares of the company’s stock worth $41,018,000 after purchasing an additional 59,824 shares in the last quarter. 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.