Analysts Set Vestis Co. (NYSE:VSTS) Price Target at $16.69

by · The Cerbat Gem

Shares of Vestis Co. (NYSE:VSTS – Get Free Report) have earned a consensus rating of “Hold” from the eleven ratings firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $16.69.

A number of equities analysts have issued reports on the company. Baird R W downgraded Vestis from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 8th. Robert W. Baird downgraded Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 price target for the company. in a report on Thursday, August 8th. Finally, The Goldman Sachs Group raised their price target on Vestis from $12.50 to $13.80 and gave the company a “neutral” rating in a report on Tuesday, August 20th.

View Our Latest Stock Report on VSTS

Vestis Price Performance

VSTS opened at $15.03 on Friday. The stock has a fifty day simple moving average of $14.33 and a two-hundred day simple moving average of $13.95. The company has a current ratio of 2.37, a quick ratio of 2.02 and a debt-to-equity ratio of 1.67. The company has a market cap of $1.98 billion and a price-to-earnings ratio of 20.31. Vestis has a 12-month low of $8.92 and a 12-month high of $22.37.

Vestis (NYSE:VSTS – Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.06. The business had revenue of $698.20 million during the quarter, compared to the consensus estimate of $688.33 million. Vestis had a return on equity of 18.00% and a net margin of 4.13%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. Research analysts predict that Vestis will post 0.64 earnings per share for the current fiscal year.

Vestis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Friday, September 13th were given a dividend of $0.035 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.14 annualized dividend and a dividend yield of 0.93%. Vestis’s dividend payout ratio (DPR) is presently 18.92%.

Institutional Investors Weigh In On Vestis

Several institutional investors have recently modified their holdings of VSTS. Wahed Invest LLC bought a new stake in shares of Vestis during the 4th quarter valued at about $42,000. PNC Financial Services Group Inc. bought a new stake in shares of Vestis during the 4th quarter valued at about $65,000. Canada Pension Plan Investment Board bought a new stake in shares of Vestis during the 2nd quarter valued at about $44,000. GAMMA Investing LLC grew its stake in shares of Vestis by 143.5% during the 3rd quarter. GAMMA Investing LLC now owns 3,960 shares of the company’s stock valued at $59,000 after purchasing an additional 2,334 shares during the period. Finally, CWM LLC grew its stake in shares of Vestis by 1,958.5% during the 1st quarter. CWM LLC now owns 4,817 shares of the company’s stock valued at $93,000 after purchasing an additional 4,583 shares during the period. 97.40% of the stock is owned by hedge funds and other institutional investors.

Vestis Company Profile

(Get Free Report

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.

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