Analysts Set Vestis Co. (NYSE:VSTS) Target Price at $16.69

Shares of Vestis Co. (NYSE:VSTS) have received a consensus recommendation of “Hold” from the eleven analysts that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $16.69.

Several research firms have weighed in on VSTS. Robert W. Baird downgraded shares of Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 price target for the company. in a research note on Thursday, August 8th. Baird R W cut shares of Vestis from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 8th. Finally, The Goldman Sachs Group boosted their target price on shares of Vestis from $12.50 to $13.80 and gave the company a “neutral” rating in a research note on Tuesday, August 20th.

Institutional Trading of Vestis

A number of hedge funds and other institutional investors have recently bought and sold shares of VSTS. Capital Performance Advisors LLP bought a new position in shares of Vestis in the 3rd quarter worth $41,000. Canada Pension Plan Investment Board purchased a new stake in shares of Vestis in the 2nd quarter valued at $44,000. GAMMA Investing LLC boosted its stake in shares of Vestis by 143.5% in the 3rd quarter. GAMMA Investing LLC now owns 3,960 shares of the company’s stock valued at $59,000 after purchasing an additional 2,334 shares in the last quarter. Copeland Capital Management LLC purchased a new stake in shares of Vestis in the 3rd quarter valued at $60,000. Finally, nVerses Capital LLC purchased a new stake in shares of Vestis in the 2nd quarter valued at $61,000. Institutional investors own 97.40% of the company’s stock.

Vestis Trading Down 0.7 %

Shares of NYSE VSTS opened at $14.05 on Tuesday. Vestis has a twelve month low of $8.92 and a twelve month high of $22.37. The firm has a fifty day simple moving average of $14.66 and a 200 day simple moving average of $13.46. The company has a debt-to-equity ratio of 1.67, a current ratio of 2.37 and a quick ratio of 2.02.

Vestis (NYSE:VSTS) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.06. Vestis had a net margin of 4.13% and a return on equity of 18.00%. The firm had revenue of $698.20 million during the quarter, compared to the consensus estimate of $688.33 million. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, equities research analysts predict that Vestis will post 0.64 EPS for the current fiscal year.

Vestis Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Friday, September 13th were given a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend was Friday, September 13th.

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.