Vestis (NYSE:VSTS) Price Target Raised to $14.00

Vestis (NYSE:VSTS) had its price target raised by Stifel Nicolaus from $11.00 to $14.00 in a report issued on Wednesday,Benzinga reports. They currently have a hold rating on the stock.

Several other research firms also recently issued reports on VSTS. The Goldman Sachs Group lifted their price target on Vestis from $8.20 to $9.30 and gave the company a “sell” rating in a research note on Tuesday. Barclays lifted their target price on Vestis from $9.00 to $11.00 and gave the company an “underweight” rating in a research report on Wednesday. Zacks Research cut Vestis from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th. Robert W. Baird upped their price target on Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vestis in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, Vestis has a consensus rating of “Reduce” and a consensus target price of $12.66.

Vestis Stock Down 1.4%

NYSE:VSTS opened at $13.32 on Wednesday. Vestis has a 1 year low of $3.98 and a 1 year high of $16.90. The stock has a 50-day moving average price of $14.24 and a two-hundred day moving average price of $10.80. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of -266.43 and a beta of 0.97. The company has a current ratio of 2.17, a quick ratio of 1.69 and a debt-to-equity ratio of 1.38.

Vestis (NYSE:VSTS) last released its quarterly earnings results on Tuesday, August 11th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.08. Vestis had a positive return on equity of 7.27% and a negative net margin of 0.20%.The company had revenue of $661.66 million for the quarter, compared to analyst estimates of $668.94 million. As a group, equities analysts expect that Vestis will post 0.57 earnings per share for the current year.

Hedge Funds Weigh In On Vestis

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp acquired a new position in shares of Vestis in the 2nd quarter worth approximately $9,368,000. Militia Capital Management LLC bought a new stake in shares of Vestis in the 1st quarter valued at $618,000. Allen Capital Group LLC acquired a new stake in shares of Vestis during the first quarter worth $94,000. RBF Capital LLC increased its position in shares of Vestis by 2.0% during the first quarter. RBF Capital LLC now owns 878,251 shares of the company’s stock worth $6,903,000 after buying an additional 17,009 shares during the period. Finally, Empowered Funds LLC raised its stake in Vestis by 8.5% during the first quarter. Empowered Funds LLC now owns 502,782 shares of the company’s stock worth $3,952,000 after buying an additional 39,433 shares during the last quarter. 97.40% of the stock is currently owned by institutional investors and hedge funds.

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.