Vestis (NYSE:VSTS) Reaches New 1-Year High – Still a Buy?

Shares of Vestis Corporation (NYSE:VSTS) hit a new 52-week high during trading on Wednesday . The company traded as high as $13.56 and last traded at $13.48, with a volume of 318528 shares traded. The stock had previously closed at $13.20.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on VSTS shares. Weiss Ratings lowered shares of Vestis from a “sell (d)” rating to a “sell (d-)” rating in a research note on Wednesday, May 13th. Robert W. Baird increased their price objective on shares of Vestis from $10.00 to $14.00 and gave the company a “neutral” rating in a report on Wednesday, May 13th. Stifel Nicolaus lifted their target price on shares of Vestis from $8.50 to $11.00 and gave the stock a “hold” rating in a report on Wednesday, May 13th. The Goldman Sachs Group reiterated a “sell” rating and set a $7.50 target price on shares of Vestis in a research report on Wednesday, May 13th. Finally, William Blair raised Vestis from a “market perform” rating to an “outperform” rating in a research note on Tuesday, May 12th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, Vestis presently has an average rating of “Reduce” and an average price target of $9.50.

Vestis Price Performance

The company has a current ratio of 2.13, a quick ratio of 1.69 and a debt-to-equity ratio of 1.44. The firm has a market cap of $1.76 billion, a P/E ratio of -95.11 and a beta of 1.08. The company has a fifty day moving average price of $11.40 and a two-hundred day moving average price of $8.74.

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

Institutional Investors Weigh In On Vestis

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Private Management Group Inc. raised its stake in shares of Vestis by 6.1% in the 3rd quarter. Private Management Group Inc. now owns 2,589,626 shares of the company’s stock valued at $11,731,000 after purchasing an additional 149,908 shares during the period. SG Americas Securities LLC boosted its position in shares of Vestis by 1,506.6% during the fourth quarter. SG Americas Securities LLC now owns 295,000 shares of the company’s stock worth $1,968,000 after buying an additional 276,638 shares during the period. Medina Value Partners LLC acquired a new position in shares of Vestis during the third quarter worth about $6,469,000. Counterpoint Mutual Funds LLC grew its holdings in shares of Vestis by 481.9% during the third quarter. Counterpoint Mutual Funds LLC now owns 720,944 shares of the company’s stock worth $3,266,000 after buying an additional 597,056 shares in the last quarter. Finally, Pacific Point Advisors LLC raised its position in Vestis by 603.8% in the 4th quarter. Pacific Point Advisors LLC now owns 214,686 shares of the company’s stock valued at $1,432,000 after buying an additional 184,181 shares during the last quarter. 97.40% of the stock is currently owned by institutional investors and hedge funds.

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.