Vestis Co. (NYSE:VSTS) Receives Consensus Rating of “Reduce” from Analysts

Vestis Co. (NYSE:VSTS) has been assigned a consensus rating of “Reduce” from the eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $13.08.

A number of research analysts have recently issued reports on VSTS shares. The Goldman Sachs Group cut their target price on shares of Vestis from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Monday, March 17th. Barclays decreased their target price on Vestis from $13.00 to $10.00 and set an “underweight” rating on the stock in a report on Friday, April 4th. Finally, Robert W. Baird reduced their price target on shares of Vestis from $17.00 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday, March 20th.

Vestis Trading Down 2.7 %

Shares of VSTS opened at $7.76 on Friday. The stock has a 50 day simple moving average of $10.89 and a 200-day simple moving average of $13.72. The company has a current ratio of 1.80, a quick ratio of 1.43 and a debt-to-equity ratio of 1.39. The stock has a market cap of $1.02 billion, a PE ratio of 97.06 and a beta of 1.55. Vestis has a 1 year low of $7.37 and a 1 year high of $19.11.

Vestis (NYSE:VSTS) last posted its earnings results on Friday, January 31st. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate 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 period last year, the business posted $0.22 EPS. On average, sell-side analysts predict that Vestis will post 0.7 EPS for the current fiscal year.

Vestis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Friday, February 21st were given a dividend of $0.035 per share. The ex-dividend date was Friday, February 21st. This represents a $0.14 dividend on an annualized basis and a yield of 1.80%. Vestis’s payout ratio is presently 175.00%.

Institutional Investors Weigh In On Vestis

Several institutional investors have recently modified their holdings of the business. True Wealth Design LLC bought a new position in Vestis in the fourth quarter valued at approximately $29,000. Spire Wealth Management bought a new position in shares of Vestis in the 4th quarter worth $29,000. Nomura Asset Management Co. Ltd. grew its stake in shares of Vestis by 104.1% during 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. Smartleaf Asset Management LLC increased its holdings in Vestis by 548.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,510 shares of the company’s stock valued at $38,000 after purchasing an additional 2,123 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in Vestis by 17.9% in the fourth quarter. GAMMA Investing LLC now owns 4,670 shares of the company’s stock valued at $71,000 after buying an additional 710 shares during the period. Institutional investors and hedge funds 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.