Vestis Co. (NYSE:VSTS) Receives $13.08 Consensus Target Price from Analysts

Vestis Co. (NYSE:VSTS) has earned a consensus recommendation of “Reduce” from the eight research firms that are currently covering the company, MarketBeat Ratings reports. One investment 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 brokers that have updated their coverage on the stock in the last year is $13.08.

Several research analysts recently issued reports on the company. Barclays cut their target price on Vestis from $13.00 to $10.00 and set an “underweight” rating on the stock in a research report on Friday, April 4th. The Goldman Sachs Group cut their price objective on shares of Vestis from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Monday, March 17th. Finally, Robert W. Baird reduced their target price on shares of Vestis from $17.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, March 20th.

Hedge Funds Weigh In On Vestis

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Pacer Advisors Inc. bought a new stake in Vestis in the fourth quarter worth about $210,766,000. AQR Capital Management LLC increased its stake in shares of Vestis by 47.4% during 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 during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Vestis by 46.4% during 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 during the last quarter. Millennium Management LLC raised its holdings 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 during the period. Finally, Jacobs Levy Equity Management Inc. lifted its stake in Vestis by 2.3% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 2,691,476 shares of the company’s stock valued at $41,018,000 after purchasing an additional 59,824 shares during the last quarter. 97.40% of the stock is owned by hedge funds and other institutional investors.

Vestis Stock Performance

VSTS opened at $7.86 on Friday. Vestis has a 1-year low of $7.37 and a 1-year high of $19.34. The company has a market cap of $1.03 billion, a price-to-earnings ratio of 98.20 and a beta of 1.55. The company’s fifty day moving average price is $11.12 and its two-hundred day moving average price is $13.82. The company has a current ratio of 1.80, a quick ratio of 1.43 and a debt-to-equity ratio of 1.39.

Vestis (NYSE:VSTS) last posted its 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 net margin of 0.34% and a return on equity of 7.91%. During the same period last year, the firm posted $0.22 EPS. On average, analysts expect that Vestis will post 0.7 EPS for the current fiscal year.

Vestis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Friday, February 21st were given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 1.78%. The ex-dividend date was Friday, February 21st. Vestis’s dividend payout ratio is presently 175.00%.

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.