Vestis Co. (NYSE:VSTS) Given Average Recommendation of “Reduce” by Analysts

Vestis Co. (NYSE:VSTS) has been given a consensus rating of “Reduce” by the eight analysts that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $14.08.

Several equities research analysts recently commented on the company. The Goldman Sachs Group lifted their price objective on Vestis from $13.60 to $15.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. lifted their price target on shares of Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Finally, Barclays increased their price objective on shares of Vestis from $10.00 to $13.00 and gave the company an “underweight” rating in a research report on Friday, November 22nd.

Vestis Trading Up 0.8 %

Shares of NYSE VSTS opened at $13.65 on Thursday. The firm’s 50 day moving average price is $15.33 and its 200-day moving average price is $14.82. Vestis has a 52-week low of $8.92 and a 52-week high of $20.07. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.43 and a current ratio of 1.80. The company has a market cap of $1.80 billion, a PE ratio of 170.58 and a beta of 1.16.

Vestis (NYSE:VSTS) last issued its earnings results on Friday, January 31st. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. Vestis had a return on equity of 7.91% and a net margin of 0.34%. During the same quarter in the prior year, the business posted $0.22 EPS. On average, equities research analysts expect that Vestis will post 0.7 EPS for the current fiscal year.

Vestis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Friday, February 21st will be paid a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Friday, February 21st. Vestis’s dividend payout ratio is presently 175.00%.

Hedge Funds Weigh In On Vestis

Several institutional investors and hedge funds have recently bought and sold shares of VSTS. Brooklyn Investment Group bought a new position in shares of Vestis in the third quarter worth about $27,000. True Wealth Design LLC bought a new stake in Vestis during the 4th quarter worth approximately $29,000. Spire Wealth Management purchased a new position in Vestis during the fourth quarter valued at approximately $29,000. Nomura Asset Management Co. Ltd. boosted its position in shares of Vestis by 104.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 2,000 shares of the company’s stock worth $30,000 after purchasing an additional 1,020 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in shares of Vestis by 548.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,510 shares of the company’s stock worth $38,000 after purchasing an additional 2,123 shares in the last quarter. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

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.