Vestis Corporation (NYSE:VSTS) Receives $5.88 Consensus PT from Analysts

Vestis Corporation (NYSE:VSTS) has earned an average recommendation of “Strong Sell” from the five ratings firms that are presently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a sell recommendation and one has issued a hold recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $5.8750.

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

Insiders Place Their Bets

In related news, Director Douglas A. Pertz purchased 15,000 shares of the stock in a transaction on Friday, December 19th. The shares were purchased at an average cost of $6.90 per share, with a total value of $103,500.00. Following the acquisition, the director directly owned 322,010 shares in the company, valued at $2,221,869. The trade was a 4.89% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Keith A. Meister acquired 800,222 shares of the business’s stock in a transaction on Tuesday, December 16th. The shares were bought at an average price of $6.81 per share, with a total value of $5,449,511.82. Following the completion of the transaction, the director directly owned 19,604,121 shares of the company’s stock, valued at approximately $133,504,064.01. The trade was a 4.26% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have acquired 1,035,064 shares of company stock valued at $7,046,839. Company insiders own 15.70% of the company’s stock.

Institutional Investors Weigh In On Vestis

Hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada lifted its position in shares of Vestis by 1,520.5% during the 4th quarter. Royal Bank of Canada now owns 5,688,399 shares of the company’s stock worth $37,942,000 after buying an additional 5,337,380 shares during the last quarter. Greenstone Partners & Co. LLC bought a new position in Vestis in the fourth quarter valued at about $33,979,000. Alberta Investment Management Corp grew its position in Vestis by 57.7% in the second quarter. Alberta Investment Management Corp now owns 9,692,000 shares of the company’s stock valued at $55,535,000 after acquiring an additional 3,547,000 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in Vestis by 1,265.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,960,150 shares of the company’s stock worth $8,879,000 after acquiring an additional 1,816,633 shares in the last quarter. Finally, Medina Value Partners LLC acquired a new position in Vestis during the third quarter worth about $6,469,000. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Vestis Stock Performance

VSTS stock opened at $7.85 on Monday. Vestis has a 1-year low of $3.98 and a 1-year high of $11.58. The company has a current ratio of 2.17, a quick ratio of 1.74 and a debt-to-equity ratio of 1.48. The firm has a market cap of $1.04 billion, a PE ratio of -21.22 and a beta of 0.48. The business’s 50-day moving average price is $7.15 and its two-hundred day moving average price is $5.99.

Vestis (NYSE:VSTS) last announced its quarterly earnings results on Tuesday, February 10th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.04. The firm had revenue of $663.39 million for the quarter, compared to analyst estimates of $665.77 million. Vestis had a negative net margin of 1.75% and a positive return on equity of 2.08%. The business’s revenue was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.14 earnings per share. As a group, research analysts forecast that Vestis will post 0.7 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.