Barclays Issues Positive Forecast for Vestis (NYSE:VSTS) Stock Price

Vestis (NYSE:VSTS) had its target price increased by Barclays from $10.00 to $13.00 in a report released on Friday morning,Benzinga reports. Barclays currently has an underweight rating on the stock.

Several other brokerages have also recently issued reports on VSTS. The Goldman Sachs Group raised their target price on shares of Vestis from $12.50 to $13.80 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Baird R W cut Vestis from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 8th. Finally, Robert W. Baird lowered Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 target price on the stock. in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $17.43.

Vestis Stock Performance

Shares of NYSE VSTS opened at $16.31 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.36 and a debt-to-equity ratio of 1.40. Vestis has a 12 month low of $8.92 and a 12 month high of $22.37. The company has a 50 day simple moving average of $14.60 and a two-hundred day simple moving average of $13.35. The stock has a market cap of $2.14 billion and a price-to-earnings ratio of 100.13.

Vestis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 13th will be issued a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Friday, December 13th. Vestis’s payout ratio is currently 87.51%.

Institutional Investors Weigh In On Vestis

Several institutional investors and hedge funds have recently added to or reduced their stakes in VSTS. AQR Capital Management LLC grew its position in shares of Vestis by 223.0% in the second quarter. AQR Capital Management LLC now owns 3,753,889 shares of the company’s stock valued at $45,197,000 after purchasing an additional 2,591,593 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in Vestis by 111.0% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,631,652 shares of the company’s stock valued at $39,212,000 after buying an additional 1,384,413 shares in the last quarter. TOMS Capital Investment Management LP boosted its holdings in Vestis by 22.7% in the 3rd quarter. TOMS Capital Investment Management LP now owns 2,330,155 shares of the company’s stock worth $34,719,000 after buying an additional 430,555 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Vestis by 9.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,156,811 shares of the company’s stock worth $32,136,000 after buying an additional 192,525 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Vestis by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,541,710 shares of the company’s stock valued at $18,854,000 after acquiring an additional 8,997 shares during the last quarter. Hedge funds and other institutional investors own 97.40% of the company’s stock.

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.