Analysts Set Vestis Corporation (NYSE:VSTS) Price Target at $9.50

Shares of Vestis Corporation (NYSE:VSTS) have been assigned an average rating of “Reduce” from the seven analysts that are covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $9.50.

Several analysts have recently issued reports on VSTS shares. The Goldman Sachs Group reissued a “sell” rating and set a $7.50 price objective on shares of Vestis in a research note on Wednesday, May 13th. Robert W. Baird boosted their price target on Vestis from $10.00 to $14.00 and gave the company a “neutral” rating in a research report on Wednesday, May 13th. Weiss Ratings downgraded Vestis from a “sell (d)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. Stifel Nicolaus increased their target price on shares of Vestis from $8.50 to $11.00 and gave the stock a “hold” rating in a research report on Wednesday, May 13th. Finally, William Blair raised shares of Vestis from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 12th.

Institutional Trading of Vestis

Institutional investors have recently added to or reduced their stakes in the business. State of Wyoming grew its position in shares of Vestis by 10.4% during the fourth quarter. State of Wyoming now owns 15,145 shares of the company’s stock worth $101,000 after acquiring an additional 1,428 shares during the last quarter. Quantinno Capital Management LP boosted its stake in Vestis by 2.1% during the 1st quarter. Quantinno Capital Management LP now owns 86,042 shares of the company’s stock valued at $676,000 after purchasing an additional 1,756 shares during the period. Captrust Financial Advisors grew its position in Vestis by 15.6% in the 2nd quarter. Captrust Financial Advisors now owns 20,599 shares of the company’s stock worth $118,000 after purchasing an additional 2,787 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Vestis by 147.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,175 shares of the company’s stock valued at $35,000 after buying an additional 3,082 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its position in shares of Vestis by 176.1% during the fourth quarter. Farther Finance Advisors LLC now owns 5,193 shares of the company’s stock worth $35,000 after buying an additional 3,312 shares during the period. 97.40% of the stock is owned by hedge funds and other institutional investors.

Vestis Trading Up 1.4%

Shares of VSTS stock traded up $0.20 during trading hours on Friday, hitting $14.54. 1,028,725 shares of the company were exchanged, compared to its average volume of 1,354,865. The firm has a fifty day moving average of $12.59 and a 200 day moving average of $9.37. The company has a quick ratio of 1.69, a current ratio of 2.13 and a debt-to-equity ratio of 1.44. Vestis has a 1 year low of $3.98 and a 1 year high of $15.06. The firm has a market cap of $1.92 billion, a PE ratio of -103.89 and a beta of 0.98.

Vestis (NYSE:VSTS) last released its earnings results on Tuesday, May 12th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.07. Vestis had a negative net margin of 0.63% and a positive return on equity of 5.27%. The firm had revenue of $659.44 million during the quarter, compared to the consensus estimate of $655.32 million. During the same period in the previous year, the firm earned ($0.05) earnings per share. Vestis’s revenue was down .9% compared to the same quarter last year. Analysts expect that Vestis will post 0.52 earnings per share for the current year.

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.