Brokerages Set Vestis Corporation (NYSE:VSTS) PT at $9.50

Vestis Corporation (NYSE:VSTS) has received an average recommendation of “Reduce” from the eight analysts that are presently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $9.50.

Several research analysts have issued reports on VSTS shares. Zacks Research upgraded shares of Vestis from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 10th. The Goldman Sachs Group reissued a “sell” rating and set a $7.50 price objective on shares of Vestis in a research note on Wednesday, May 13th. Barclays lifted their target price on Vestis from $6.00 to $9.00 and gave the stock an “underweight” rating in a report on Friday, May 15th. Stifel Nicolaus boosted their target price on Vestis from $8.50 to $11.00 and gave the stock a “hold” rating in a research report on Wednesday, May 13th. Finally, William Blair raised Vestis from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 12th.

Institutional Trading of Vestis

Institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada grew its position in Vestis by 1,520.5% during the 4th quarter. Royal Bank of Canada now owns 5,688,399 shares of the company’s stock worth $37,942,000 after purchasing an additional 5,337,380 shares in the last quarter. Greenstone Partners & Co. LLC acquired a new stake in Vestis during the 4th quarter valued at $33,979,000. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Vestis by 1,265.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,960,150 shares of the company’s stock valued at $8,879,000 after purchasing an additional 1,816,633 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Vestis by 571.0% in the first quarter. SG Americas Securities LLC now owns 1,979,460 shares of the company’s stock valued at $15,559,000 after purchasing an additional 1,684,460 shares in the last quarter. Finally, Jefferies Financial Group Inc. acquired a new stake in shares of Vestis in the fourth quarter worth $8,419,000. Institutional investors and hedge funds own 97.40% of the company’s stock.

Vestis Stock Performance

NYSE:VSTS opened at $13.94 on Thursday. Vestis has a twelve month low of $3.98 and a twelve month high of $16.90. The company has a current ratio of 2.13, a quick ratio of 1.69 and a debt-to-equity ratio of 1.44. The company has a 50-day moving average of $14.12 and a 200-day moving average of $10.48. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of -99.56 and a beta of 0.97.

Vestis (NYSE:VSTS) last announced its quarterly earnings data on Tuesday, May 12th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.07. Vestis had a negative net margin of 0.63% and a positive return on equity of 5.27%. The company had revenue of $659.44 million for the quarter, compared to analysts’ expectations of $655.32 million. During the same quarter in the previous year, the company posted ($0.05) EPS. The business’s revenue was down .9% compared to the same quarter last year. Analysts forecast that Vestis will post 0.52 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.