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

Vestis Co. (NYSE:VSTS) has been assigned an average recommendation of “Reduce” from the eight analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and seven have issued a hold rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $13.68.

A number of equities research analysts have recently issued reports on the company. Barclays upped their price target on Vestis from $10.00 to $13.00 and gave the company an “underweight” rating in a research report on Friday, November 22nd. The Goldman Sachs Group dropped their price target on Vestis from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Monday. Finally, JPMorgan Chase & Co. increased their price objective on Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd.

Hedge Funds Weigh In On Vestis

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Brooklyn Investment Group purchased a new position in shares of Vestis during the third quarter worth about $27,000. True Wealth Design LLC purchased a new position in shares of Vestis during the fourth quarter worth about $29,000. Spire Wealth Management purchased a new stake in Vestis in the 4th quarter valued at approximately $29,000. Nomura Asset Management Co. Ltd. boosted its holdings in Vestis by 104.1% in the 3rd 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. Finally, Smartleaf Asset Management LLC boosted its holdings in Vestis by 548.6% in the 4th 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 in the last quarter. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Vestis Price Performance

NYSE VSTS traded up $0.40 during trading hours on Monday, reaching $11.21. The company’s stock had a trading volume of 810,190 shares, compared to its average volume of 1,463,509. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of 140.08 and a beta of 1.40. Vestis has a 1-year low of $8.92 and a 1-year 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. The company’s 50-day moving average is $13.97 and its two-hundred day moving average is $14.66.

Vestis (NYSE:VSTS) last announced its earnings results on Friday, January 31st. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates 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 previous year, the company earned $0.22 earnings per share. On average, equities analysts predict that Vestis will post 0.7 EPS for the current year.

Vestis Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Friday, February 21st will be issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Friday, February 21st. Vestis’s payout ratio is 175.00%.

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.