Vestis (NYSE:VSTS) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Vestis (NYSE:VSTS) had its price target increased by JPMorgan Chase & Co. from $15.00 to $16.00 in a research note published on Friday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Barclays upped their price objective on shares of Vestis from $10.00 to $13.00 and gave the company an “underweight” rating in a research note on Friday. Baird R W cut shares of Vestis from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 8th. The Goldman Sachs Group increased their target price on shares of Vestis from $12.50 to $13.80 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Finally, Robert W. Baird downgraded Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 price target on the stock. in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $17.43.

Vestis Price Performance

Shares of Vestis stock opened at $16.02 on Friday. Vestis has a 52-week low of $8.92 and a 52-week high of $22.37. The stock has a market capitalization of $2.11 billion and a price-to-earnings ratio of 100.13. The company has a fifty day moving average of $14.58 and a 200-day moving average of $13.26. The company has a debt-to-equity ratio of 1.40, a quick ratio of 2.02 and a current ratio of 1.73.

Vestis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors 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 annualized dividend and a dividend yield of 0.87%. Vestis’s dividend payout ratio is presently 87.51%.

Institutional Trading of Vestis

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Brooklyn Investment Group bought a new stake in Vestis in the third quarter worth $27,000. Nomura Asset Management Co. Ltd. lifted its holdings 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 valued at $30,000 after purchasing an additional 1,020 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of Vestis during the third quarter valued at $41,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Vestis during the third quarter valued at $51,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of Vestis during the second quarter valued at $44,000. 97.40% of the stock is owned by hedge funds and other institutional investors.

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.