Vestis (NYSE:VSTS) Given New $13.00 Price Target at Robert W. Baird

Vestis (NYSE:VSTS) had its price objective trimmed by Robert W. Baird from $17.00 to $13.00 in a research note released on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other equities research analysts have also recently commented on the company. The Goldman Sachs Group cut their price target on Vestis from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Monday. Barclays upped their price objective on Vestis from $10.00 to $13.00 and gave the stock an “underweight” rating in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. upped their price objective on Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $13.68.

Vestis Price Performance

Vestis stock opened at $10.14 on Thursday. Vestis has a 12 month low of $8.92 and a 12 month 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 business has a 50 day simple moving average of $13.52 and a 200-day simple moving average of $14.56. The stock has a market capitalization of $1.34 billion, a PE ratio of 126.70 and a beta of 1.40.

Vestis (NYSE:VSTS) last released its quarterly earnings results on Friday, January 31st. The company reported $0.14 EPS for the quarter, topping 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 previous year, the firm earned $0.22 earnings per share. Equities analysts predict that Vestis will post 0.7 earnings per share for the current year.

Vestis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Friday, February 21st were issued a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend was Friday, February 21st. Vestis’s dividend payout ratio (DPR) is 175.00%.

Institutional Trading of Vestis

Several large investors have recently bought and sold shares of VSTS. Victory Capital Management Inc. grew its holdings in Vestis by 12.2% in the third quarter. Victory Capital Management Inc. now owns 63,551 shares of the company’s stock valued at $947,000 after purchasing an additional 6,916 shares during the last quarter. KBC Group NV grew its holdings in Vestis by 51.9% in the third quarter. KBC Group NV now owns 4,741 shares of the company’s stock valued at $71,000 after purchasing an additional 1,619 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Vestis by 9.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,156,811 shares of the company’s stock valued at $32,136,000 after acquiring an additional 192,525 shares during the last quarter. Cerity Partners LLC boosted its stake in shares of Vestis by 335.7% during the third quarter. Cerity Partners LLC now owns 71,578 shares of the company’s stock valued at $1,067,000 after acquiring an additional 55,149 shares during the last quarter. Finally, Algert Global LLC boosted its stake in shares of Vestis by 38.7% during the third quarter. Algert Global LLC now owns 275,735 shares of the company’s stock valued at $4,108,000 after acquiring an additional 76,940 shares during the last quarter. 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.