Vestis Corporation (NYSE:VSTS) Receives $9.13 Average PT from Analysts

Vestis Corporation (NYSE:VSTS) has been assigned an average recommendation of “Strong Sell” from the five brokerages that are covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation and two have given a hold recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $9.1250.

A number of analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Vestis from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. JPMorgan Chase & Co. cut their price target on shares of Vestis from $6.00 to $5.50 and set an “underweight” rating for the company in a report on Thursday, August 7th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Vestis in a report on Saturday, September 27th.

Institutional Trading of Vestis

Several institutional investors have recently added to or reduced their stakes in the stock. Copeland Capital Management LLC increased its holdings in Vestis by 33.0% in the 1st quarter. Copeland Capital Management LLC now owns 5,428 shares of the company’s stock valued at $54,000 after purchasing an additional 1,346 shares during the last quarter. Landscape Capital Management L.L.C. increased its holdings in Vestis by 10.5% in the 1st quarter. Landscape Capital Management L.L.C. now owns 18,447 shares of the company’s stock valued at $183,000 after purchasing an additional 1,753 shares during the last quarter. Federated Hermes Inc. increased its holdings in Vestis by 2.0% in the 1st quarter. Federated Hermes Inc. now owns 121,589 shares of the company’s stock valued at $1,204,000 after purchasing an additional 2,352 shares during the last quarter. KBC Group NV increased its holdings in Vestis by 54.2% in the 1st quarter. KBC Group NV now owns 7,309 shares of the company’s stock valued at $72,000 after purchasing an additional 2,568 shares during the last quarter. Finally, Illinois Municipal Retirement Fund increased its holdings in Vestis by 4.6% in the 1st quarter. Illinois Municipal Retirement Fund now owns 62,177 shares of the company’s stock valued at $616,000 after purchasing an additional 2,727 shares during the last quarter. Institutional investors and hedge funds own 97.40% of the company’s stock.

Vestis Stock Up 0.7%

Shares of NYSE VSTS opened at $5.06 on Friday. The company has a 50 day simple moving average of $4.69 and a 200-day simple moving average of $6.22. The company has a market capitalization of $666.45 million, a P/E ratio of -21.98 and a beta of 0.97. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.84 and a quick ratio of 1.42. Vestis has a 1 year low of $3.98 and a 1 year high of $17.83.

Vestis (NYSE:VSTS) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.05 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.05. The business had revenue of $673.80 million during the quarter, compared to the consensus estimate of $673.65 million. Vestis had a negative net margin of 1.11% and a positive return on equity of 3.76%. The business’s revenue was down 3.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.16 EPS. On average, equities research analysts predict that Vestis will post 0.7 earnings per share 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.