Robert W. Baird Has Lowered Expectations for Vestis (NYSE:VSTS) Stock Price

Vestis (NYSE:VSTS) had its price target dropped by analysts at Robert W. Baird from $17.00 to $13.00 in a report released on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Robert W. Baird’s price target would indicate a potential upside of 26.90% from the stock’s current price.

VSTS has been the subject of a number of other reports. Barclays boosted their price target on shares of Vestis from $10.00 to $13.00 and gave the stock an “underweight” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. boosted 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, The Goldman Sachs Group dropped their price target on shares of Vestis from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Monday. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat, Vestis has an average rating of “Hold” and a consensus price target of $13.68.

Vestis Price Performance

Shares of VSTS stock traded down $0.13 during trading hours on Thursday, reaching $10.24. 325,026 shares of the company were exchanged, compared to its average volume of 2,095,377. Vestis has a fifty-two week low of $8.92 and a fifty-two week high of $19.76. The stock’s fifty day moving average is $13.64 and its two-hundred day moving average is $14.59. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 128.07 and a beta of 1.40. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.80 and a quick ratio of 1.43.

Vestis (NYSE:VSTS) last announced its earnings results on Friday, January 31st. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. Vestis had a net margin of 0.34% and a return on equity of 7.91%. During the same quarter last year, the business earned $0.22 EPS. Sell-side analysts forecast that Vestis will post 0.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vestis

Large investors have recently bought and sold shares of the company. HighTower Advisors LLC increased its stake in Vestis by 223.0% in the third quarter. HighTower Advisors LLC now owns 361,348 shares of the company’s stock valued at $5,386,000 after purchasing an additional 249,479 shares in the last quarter. Annex Advisory Services LLC increased its stake in Vestis by 13.5% in the fourth quarter. Annex Advisory Services LLC now owns 293,899 shares of the company’s stock valued at $4,479,000 after purchasing an additional 34,951 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in Vestis in the fourth quarter valued at approximately $185,000. Ieq Capital LLC increased its stake in Vestis by 689.7% in the fourth quarter. Ieq Capital LLC now owns 160,671 shares of the company’s stock valued at $2,449,000 after purchasing an additional 140,324 shares in the last quarter. Finally, Pacer Advisors Inc. bought a new stake in Vestis in the fourth quarter valued at approximately $210,766,000. 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.