Analysts Set Vestis Co. (NYSE:VSTS) Target Price at $15.73

Vestis Co. (NYSE:VSTS) has been assigned an average recommendation of “Hold” from the nine analysts that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $15.73.

VSTS has been the topic of several recent research reports. Barclays upped their price objective on shares of Vestis from $10.00 to $13.00 and gave the company an “underweight” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. upped their price target on shares of Vestis from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, The Goldman Sachs Group lifted their price objective on shares of Vestis from $13.60 to $15.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd.

Hedge Funds Weigh In On Vestis

A number of institutional investors have recently added to or reduced their stakes in VSTS. Brooklyn Investment Group bought a new position in shares of Vestis in the third quarter worth approximately $27,000. Nomura Asset Management Co. Ltd. increased its holdings in shares of Vestis by 104.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,000 shares of the company’s stock worth $30,000 after buying an additional 1,020 shares during the last quarter. Capital Performance Advisors LLP bought a new position in shares of Vestis in the 3rd quarter worth $41,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Vestis during the 3rd quarter worth $51,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Vestis during the 2nd quarter worth $44,000. 97.40% of the stock is currently owned by institutional investors.

Vestis Trading Down 2.2 %

Shares of VSTS stock opened at $15.36 on Wednesday. The company has a quick ratio of 1.36, a current ratio of 1.73 and a debt-to-equity ratio of 1.40. The firm has a market cap of $2.02 billion, a P/E ratio of 96.01 and a beta of 1.17. The company has a 50 day moving average of $15.13 and a 200-day moving average of $14.01. Vestis has a 12-month low of $8.92 and a 12-month high of $22.37.

Vestis (NYSE:VSTS) last released its earnings results on Thursday, November 21st. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). Vestis had a return on equity of 9.07% and a net margin of 0.75%. The firm had revenue of $684.28 million during the quarter, compared to analysts’ expectations of $693.54 million. Vestis’s quarterly revenue was down 4.4% compared to the same quarter last year. Sell-side analysts anticipate that Vestis will post 0.66 earnings per share for the current year.

Vestis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 13th will be given a dividend of $0.035 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.91%. Vestis’s dividend payout ratio (DPR) is currently 87.50%.

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.