Vestis Corporation (NYSE:VSTS) Given Consensus Recommendation of “Strong Sell” by Brokerages

Vestis Corporation (NYSE:VSTS) has been given a consensus recommendation of “Strong Sell” by the five analysts that are currently covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a sell recommendation and one has given a hold recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $5.8750.

Several equities research analysts have recently commented on VSTS shares. Robert W. Baird boosted their price target on Vestis from $5.00 to $6.50 and gave the stock a “neutral” rating in a research note on Tuesday, December 2nd. Barclays reaffirmed an “underweight” rating on shares of Vestis in a report on Tuesday, February 17th. The Goldman Sachs Group upped their target price on Vestis from $5.30 to $6.00 and gave the company a “sell” rating in a report on Wednesday, February 11th. Weiss Ratings restated a “sell (d)” rating on shares of Vestis in a research report on Wednesday, January 21st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Vestis from $5.50 to $6.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 3rd.

Vestis Price Performance

Shares of VSTS traded up $0.02 during trading hours on Friday, reaching $7.74. The company had a trading volume of 108,592 shares, compared to its average volume of 1,927,049. The company has a current ratio of 2.17, a quick ratio of 1.74 and a debt-to-equity ratio of 1.48. Vestis has a 12-month low of $3.98 and a 12-month high of $10.24. The firm has a 50 day simple moving average of $7.42 and a 200-day simple moving average of $6.26. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of -20.93 and a beta of 0.49.

Vestis (NYSE:VSTS) last released its quarterly earnings data on Tuesday, February 10th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.04. Vestis had a negative net margin of 1.75% and a positive return on equity of 2.08%. The firm had revenue of $663.39 million for the quarter, compared to the consensus estimate of $665.77 million. During the same quarter in the previous year, the firm earned $0.14 earnings per share. The firm’s revenue was down 3.0% on a year-over-year basis. Research analysts expect that Vestis will post 0.7 earnings per share for the current year.

Institutional Trading of Vestis

Institutional investors and hedge funds have recently modified their holdings of the business. Royal Bank of Canada grew its position in shares of Vestis by 1,520.5% in the fourth quarter. Royal Bank of Canada now owns 5,688,399 shares of the company’s stock valued at $37,942,000 after purchasing an additional 5,337,380 shares during the last quarter. Greenstone Partners & Co. LLC acquired a new position in shares of Vestis during the 4th quarter worth approximately $33,979,000. Jacobs Levy Equity Management Inc. raised its position in shares of Vestis by 1,265.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,960,150 shares of the company’s stock worth $8,879,000 after purchasing an additional 1,816,633 shares during the last quarter. Medina Value Partners LLC purchased a new stake in Vestis in the 3rd quarter valued at approximately $6,469,000. Finally, Jefferies Financial Group Inc. purchased a new stake in Vestis in the 4th quarter valued at approximately $8,419,000. Hedge funds and other 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. The company serves manufacturing, hospitality, retail, food processing, food service, pharmaceuticals, healthcare, automotive, and cleanroom industries.