Vestis (NYSE:VSTS) Given New $10.00 Price Target at Barclays

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

A number of other equities analysts have also issued reports on VSTS. The Goldman Sachs Group dropped their target price on shares of Vestis from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. Robert W. Baird reduced their target price on shares of Vestis from $17.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, March 20th. One analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $13.08.

Vestis Stock Down 12.3 %

VSTS stock opened at $7.93 on Friday. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of 99.15 and a beta of 1.40. The company has a 50-day moving average of $12.10 and a two-hundred day moving average of $14.18. Vestis has a 52-week low of $7.89 and a 52-week high of $19.76. 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 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 earnings per share. As a group, equities research analysts anticipate that Vestis will post 0.7 EPS for the current year.

Vestis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Friday, February 21st were paid a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date was Friday, February 21st. Vestis’s dividend payout ratio is 175.00%.

Institutional Trading of Vestis

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Captrust Financial Advisors bought a new stake in shares of Vestis in the 3rd quarter valued at approximately $201,000. Verition Fund Management LLC grew its position in Vestis by 70.4% in the third quarter. Verition Fund Management LLC now owns 119,378 shares of the company’s stock valued at $1,779,000 after acquiring an additional 49,302 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in Vestis during the third quarter worth $51,000. HighTower Advisors LLC lifted its holdings in shares of Vestis by 223.0% during the third quarter. HighTower Advisors LLC now owns 361,348 shares of the company’s stock valued at $5,386,000 after acquiring an additional 249,479 shares during the period. Finally, Point72 Asset Management L.P. boosted its stake in shares of Vestis by 19.6% in the 3rd quarter. Point72 Asset Management L.P. now owns 255,029 shares of the company’s stock valued at $3,800,000 after purchasing an additional 41,833 shares in the last quarter. Institutional investors own 97.40% of the company’s stock.

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.