Barclays Issues Positive Forecast for Vestis (NYSE:VSTS) Stock Price

Vestis (NYSE:VSTS) had its price objective upped by Barclays from $10.00 to $13.00 in a report issued on Friday morning,Benzinga reports. They currently have an underweight rating on the stock.

Other equities analysts also recently issued reports about the company. Baird R W downgraded Vestis from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 8th. Robert W. Baird cut shares of 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 objective on shares of Vestis from $12.50 to $13.80 and gave the company a “neutral” rating in a report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Vestis currently has an average rating of “Hold” and a consensus price target of $17.43.

Vestis Trading Up 2.6 %

NYSE:VSTS opened at $16.02 on Friday. Vestis has a 12-month low of $8.92 and a 12-month high of $22.37. The firm has a market cap of $2.11 billion and a PE ratio of 100.13. The company has a current ratio of 1.73, a quick ratio of 2.02 and a debt-to-equity ratio of 1.40. The stock has a fifty day moving average price of $14.60 and a 200 day moving average price of $13.33.

Vestis Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Friday, December 13th. Vestis’s payout ratio is 87.51%.

Institutional Trading of Vestis

Several institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC boosted its stake in Vestis by 223.0% during the 2nd quarter. AQR Capital Management LLC now owns 3,753,889 shares of the company’s stock worth $45,197,000 after purchasing an additional 2,591,593 shares during the period. Jacobs Levy Equity Management Inc. boosted its stake in shares of Vestis by 111.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,631,652 shares of the company’s stock worth $39,212,000 after buying an additional 1,384,413 shares during the period. Forest Avenue Capital Management LP purchased a new position in shares of Vestis during the third quarter worth about $19,486,000. Granite Investment Partners LLC acquired a new position in Vestis in the 2nd quarter valued at about $13,752,000. Finally, Bayberry Capital Partners LP purchased a new stake in Vestis during the 1st quarter valued at approximately $16,380,000. 97.40% of the stock is owned by hedge funds and other institutional investors.

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.