Vestis Corporation (NYSE:VSTS) Given Average Rating of “Reduce” by Brokerages

Shares of Vestis Corporation (NYSE:VSTS) have been given an average recommendation of “Reduce” by the eight research firms that are currently covering the firm, MarketBeat reports. Four analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $12.66.

A number of brokerages recently issued reports on VSTS. JPMorgan Chase & Co. boosted their target price on shares of Vestis from $11.00 to $13.00 and gave the stock an “underweight” rating in a research report on Thursday, August 13th. The Goldman Sachs Group boosted their price objective on shares of Vestis from $8.20 to $9.30 and gave the stock a “sell” rating in a report on Tuesday, August 11th. Barclays increased their target price on shares of Vestis from $9.00 to $11.00 and gave the company an “underweight” rating in a research note on Wednesday, August 12th. Robert W. Baird lifted their target price on Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Vestis in a research note on Friday, August 7th.

Institutional Trading of Vestis

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VSTS. State of Wyoming boosted its holdings in Vestis by 10.4% during the fourth quarter. State of Wyoming now owns 15,145 shares of the company’s stock valued at $101,000 after purchasing an additional 1,428 shares in the last quarter. Quantinno Capital Management LP raised its holdings in shares of Vestis by 2.1% in the 1st quarter. Quantinno Capital Management LP now owns 86,042 shares of the company’s stock worth $676,000 after buying an additional 1,756 shares in the last quarter. HB Wealth Management LLC lifted its position in shares of Vestis by 16.2% during the 2nd quarter. HB Wealth Management LLC now owns 15,270 shares of the company’s stock worth $222,000 after buying an additional 2,132 shares during the period. Captrust Financial Advisors boosted its stake in Vestis by 15.6% in the 2nd quarter. Captrust Financial Advisors now owns 20,599 shares of the company’s stock valued at $118,000 after buying an additional 2,787 shares in the last quarter. Finally, Philadelphia Investment Partners LLC bought a new stake in Vestis in the second quarter valued at $47,000. Institutional investors own 97.40% of the company’s stock.

Vestis Stock Performance

NYSE:VSTS traded up $0.05 during mid-day trading on Monday, hitting $12.74. 124,695 shares of the company’s stock traded hands, compared to its average volume of 1,619,890. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of -254.55 and a beta of 0.97. The firm has a 50 day moving average of $14.24 and a two-hundred day moving average of $11.06. The company has a current ratio of 2.17, a quick ratio of 1.75 and a debt-to-equity ratio of 1.38. Vestis has a 12 month low of $3.98 and a 12 month high of $16.90.

Vestis (NYSE:VSTS) last issued its quarterly earnings results on Tuesday, August 11th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.10 by $0.08. Vestis had a positive return on equity of 7.27% and a negative net margin of 0.20%.The company had revenue of $661.66 million for the quarter, compared to the consensus estimate of $668.94 million. On average, equities analysts forecast that Vestis will post 0.62 earnings per share for the current fiscal 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. The company serves manufacturing, hospitality, retail, food processing, food service, pharmaceuticals, healthcare, automotive, and cleanroom industries.