Vestis Co. (NYSE:VSTS) Given Average Rating of “Reduce” by Analysts

Vestis Co. (NYSE:VSTS) has earned a consensus rating of “Reduce” from the six research firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $11.75.

VSTS has been the subject of a number of recent research reports. Barclays cut their price objective on shares of Vestis from $10.00 to $5.00 and set an “underweight” rating for the company in a research report on Friday. Robert W. Baird reduced their price target on Vestis from $17.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday, March 20th. Finally, The Goldman Sachs Group decreased their price objective on Vestis from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Monday, March 17th.

Insider Buying and Selling

In other Vestis news, Director Douglas A. Pertz purchased 70,000 shares of the company’s stock in a transaction on Thursday, May 8th. The stock was acquired at an average cost of $6.17 per share, for a total transaction of $431,900.00. Following the purchase, the director now directly owns 297,010 shares of the company’s stock, valued at $1,832,551.70. This trade represents a 30.84 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 13.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Vestis

Several institutional investors and hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its stake in Vestis by 1.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,582,601 shares of the company’s stock valued at $25,568,000 after acquiring an additional 43,719 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in shares of Vestis during the first quarter valued at about $1,756,000. Alberta Investment Management Corp increased its holdings in shares of Vestis by 65.2% in the first quarter. Alberta Investment Management Corp now owns 6,145,000 shares of the company’s stock worth $60,836,000 after purchasing an additional 2,426,167 shares during the last quarter. GSA Capital Partners LLP lifted its position in shares of Vestis by 369.6% in the first quarter. GSA Capital Partners LLP now owns 58,850 shares of the company’s stock worth $583,000 after buying an additional 46,317 shares in the last quarter. Finally, Federated Hermes Inc. boosted its stake in Vestis by 2.0% during the first quarter. Federated Hermes Inc. now owns 121,589 shares of the company’s stock valued at $1,204,000 after buying an additional 2,352 shares during the last quarter. Institutional investors own 97.40% of the company’s stock.

Vestis Stock Up 0.3 %

Vestis stock opened at $6.29 on Tuesday. The stock has a market cap of $828.68 million, a PE ratio of 78.63 and a beta of 1.61. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.43 and a current ratio of 1.80. The stock has a fifty day moving average of $9.08 and a 200 day moving average of $12.87. Vestis has a one year low of $5.20 and a one year high of $17.83.

Vestis (NYSE:VSTS) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.20). The business had revenue of $665.25 million during the quarter, compared to the consensus estimate of $690.81 million. Vestis had a return on equity of 7.91% and a net margin of 0.34%. The company’s revenue was down 5.7% on a year-over-year basis. As a group, sell-side analysts predict that Vestis will post 0.7 EPS for the current year.

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.