Barclays Cuts Vestis (NYSE:VSTS) Price Target to $10.00

Vestis (NYSE:VSTS) had its target price cut by Barclays from $13.00 to $10.00 in a research note released on Friday,Benzinga reports. They currently have an underweight rating on the stock.

Other equities analysts have also issued research reports about the company. Robert W. Baird decreased their price target on Vestis from $17.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday, March 20th. The Goldman Sachs Group decreased their target price 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. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat.com, Vestis currently has a consensus rating of “Hold” and a consensus price target of $13.08.

Vestis Stock Performance

Shares of VSTS opened at $7.93 on Friday. Vestis has a 12-month low of $7.89 and a 12-month high of $19.76. The stock has a market capitalization of $1.04 billion, a P/E ratio of 99.15 and a beta of 1.40. The firm’s 50 day moving average is $12.10 and its 200-day moving average is $14.18. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.80 and a quick ratio of 1.43.

Vestis (NYSE:VSTS) last posted its quarterly earnings results on Friday, January 31st. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate 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. Equities research analysts anticipate that Vestis will post 0.7 EPS for the current fiscal year.

Vestis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Friday, February 21st were issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 1.77%. The ex-dividend date was Friday, February 21st. Vestis’s dividend payout ratio is currently 175.00%.

Institutional Investors Weigh In On Vestis

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. HighTower Advisors LLC increased its holdings in Vestis by 223.0% in the third quarter. HighTower Advisors LLC now owns 361,348 shares of the company’s stock worth $5,386,000 after buying an additional 249,479 shares during the last quarter. Annex Advisory Services LLC grew its position in Vestis by 13.5% in the fourth quarter. Annex Advisory Services LLC now owns 293,899 shares of the company’s stock worth $4,479,000 after acquiring an additional 34,951 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Vestis during the 4th quarter worth $2,194,000. Proficio Capital Partners LLC bought a new position in shares of Vestis during the 4th quarter valued at $185,000. Finally, Ieq Capital LLC lifted its stake in shares of Vestis by 689.7% in the 4th quarter. Ieq Capital LLC now owns 160,671 shares of the company’s stock valued at $2,449,000 after purchasing an additional 140,324 shares during the last quarter. 97.40% of the stock is owned by hedge funds and other 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.