Vestis (NYSE:VSTS) Given New $13.00 Price Target at The Goldman Sachs Group

Vestis (NYSE:VSTS) had its price target dropped by investment analysts at The Goldman Sachs Group from $15.00 to $13.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price points to a potential upside of 18.99% from the company’s current price.

VSTS has been the subject of several other reports. Barclays boosted their price objective on Vestis from $10.00 to $13.00 and gave the stock an “underweight” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. boosted 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. One analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $13.68.

Vestis Stock Performance

NYSE VSTS opened at $10.93 on Monday. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of 136.58 and a beta of 1.40. Vestis has a twelve month low of $8.92 and a twelve month high of $19.76. The company has a current ratio of 1.80, a quick ratio of 1.43 and a debt-to-equity ratio of 1.39. The stock has a 50-day moving average of $13.76 and a 200 day moving average of $14.62.

Vestis (NYSE:VSTS) last released its quarterly earnings results on Friday, January 31st. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates 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 business posted $0.22 earnings per share. Sell-side analysts anticipate that Vestis will post 0.7 EPS for the current fiscal year.

Institutional Investors Weigh In On Vestis

Large investors have recently made changes to their positions in the stock. Brooklyn Investment Group purchased a new stake in shares of Vestis in the third quarter valued at approximately $27,000. Spire Wealth Management purchased a new stake in shares of Vestis in the fourth quarter valued at approximately $29,000. True Wealth Design LLC purchased a new stake in shares of Vestis in the fourth quarter valued at approximately $29,000. Nomura Asset Management Co. Ltd. grew its position in shares of Vestis by 104.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 2,000 shares of the company’s stock valued at $30,000 after purchasing an additional 1,020 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its position in shares of Vestis by 548.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,510 shares of the company’s stock valued at $38,000 after purchasing an additional 2,123 shares in the last quarter. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

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.