Vestis Corporation (NYSE:VSTS) Receives $5.70 Consensus Target Price from Brokerages

Vestis Corporation (NYSE:VSTS) has been assigned a consensus recommendation of “Strong Sell” from the five brokerages that are presently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a sell recommendation and one has issued a hold recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $5.70.

A number of equities analysts have commented on the stock. The Goldman Sachs Group downgraded shares of Vestis from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $6.30 to $5.30 in a research note on Thursday, January 8th. JPMorgan Chase & Co. raised their price objective on Vestis from $5.50 to $6.00 and gave the stock an “underweight” rating in a report on Wednesday, December 3rd. Weiss Ratings reiterated a “sell (d)” rating on shares of Vestis in a report on Wednesday, October 8th. Finally, Robert W. Baird raised their price target on Vestis from $5.00 to $6.50 and gave the company a “neutral” rating in a research note on Tuesday, December 2nd.

Insider Buying and Selling at Vestis

In other Vestis news, Director William Goetz acquired 6,746 shares of the company’s stock in a transaction dated Monday, December 8th. The shares were purchased at an average cost of $7.42 per share, for a total transaction of $50,055.32. Following the completion of the purchase, the director owned 29,877 shares in the company, valued at approximately $221,687.34. This trade represents a 29.16% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Douglas A. Pertz acquired 15,000 shares of the business’s stock in a transaction that occurred on Friday, December 19th. The shares were acquired at an average cost of $6.90 per share, for a total transaction of $103,500.00. Following the completion of the acquisition, the director owned 322,010 shares of the company’s stock, valued at $2,221,869. This trade represents a 4.89% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 1,205,810 shares of company stock worth $8,138,302 over the last quarter. 15.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in VSTS. Alberta Investment Management Corp grew its stake in shares of Vestis by 57.7% during the second quarter. Alberta Investment Management Corp now owns 9,692,000 shares of the company’s stock worth $55,535,000 after acquiring an additional 3,547,000 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in 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. Jane Street Group LLC increased its stake in Vestis by 700.5% during the 1st quarter. Jane Street Group LLC now owns 1,982,027 shares of the company’s stock valued at $19,622,000 after purchasing an additional 1,734,442 shares in the last quarter. Medina Value Partners LLC purchased a new position in shares of Vestis in the third quarter worth $6,469,000. Finally, First Trust Advisors LP lifted its stake in shares of Vestis by 327.2% during the second quarter. First Trust Advisors LP now owns 1,461,190 shares of the company’s stock worth $8,373,000 after buying an additional 1,119,157 shares during the period. 97.40% of the stock is owned by institutional investors and hedge funds.

Vestis Stock Performance

Shares of Vestis stock opened at $6.89 on Friday. The company has a quick ratio of 1.64, a current ratio of 2.08 and a debt-to-equity ratio of 1.49. The stock’s fifty day moving average is $6.50 and its two-hundred day moving average is $5.59. Vestis has a 52 week low of $3.98 and a 52 week high of $16.56. The company has a market capitalization of $909.14 million, a PE ratio of -22.23 and a beta of 0.73.

Vestis (NYSE:VSTS) last issued its earnings results on Monday, December 1st. The company reported $0.03 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.03. The firm had revenue of $712.01 million during the quarter, compared to analyst estimates of $690.65 million. Vestis had a negative net margin of 1.47% and a positive return on equity of 2.62%. The business’s revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.11 earnings per share. As a group, analysts expect that Vestis will post 0.7 earnings per share for the current year.

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. The company serves manufacturing, hospitality, retail, food processing, food service, pharmaceuticals, healthcare, automotive, and cleanroom industries.