Robert W. Baird Cuts Vestis (NYSE:VSTS) Price Target to $13.00

Vestis (NYSE:VSTS) had its price target trimmed by Robert W. Baird from $24.00 to $13.00 in a research report report published on Friday, Benzinga reports. The firm currently has an outperform rating on the stock.

Other research analysts have also issued research reports about the stock. Wolfe Research assumed coverage on shares of Vestis in a research note on Thursday, January 11th. They issued an outperform rating and a $24.00 target price on the stock. Barclays cut shares of Vestis from an equal weight rating to an underweight rating and raised their price objective for the company from $17.00 to $19.00 in a research note on Wednesday, February 28th. Finally, The Goldman Sachs Group initiated coverage on shares of Vestis in a report on Thursday, January 25th. They set a neutral rating and a $22.00 target price for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Vestis presently has an average rating of Hold and a consensus price target of $19.33.

Vestis Trading Down 7.4 %

VSTS stock opened at $9.41 on Friday. The company has a 50 day moving average price of $18.38 and a 200 day moving average price of $18.72. Vestis has a fifty-two week low of $8.92 and a fifty-two week high of $22.37. The company has a debt-to-equity ratio of 1.69, a quick ratio of 2.23 and a current ratio of 2.51.

Vestis (NYSE:VSTS) last released its earnings results on Thursday, May 2nd. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.09). The firm had revenue of $705.37 million during the quarter, compared to the consensus estimate of $722.54 million. The firm’s quarterly revenue was up .9% on a year-over-year basis. Equities research analysts anticipate that Vestis will post 1.03 earnings per share for the current fiscal year.

Vestis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were issued a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend was Thursday, March 14th.

Insider Activity at Vestis

In other Vestis news, CEO Kim Scott bought 15,000 shares of Vestis stock in a transaction on Friday, February 9th. The shares were purchased at an average cost of $19.14 per share, for a total transaction of $287,100.00. Following the completion of the acquisition, the chief executive officer now owns 183,131 shares in the company, valued at approximately $3,505,127.34. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.

Hedge Funds Weigh In On Vestis

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. acquired a new stake in shares of Vestis in the 4th quarter valued at approximately $302,586,000. Capital International Investors acquired a new stake in Vestis in the fourth quarter valued at $125,586,000. Channing Capital Management LLC acquired a new stake in Vestis in the fourth quarter valued at $72,529,000. Wellington Management Group LLP bought a new position in shares of Vestis in the 4th quarter valued at about $56,431,000. Finally, Victory Capital Management Inc. acquired a new position in shares of Vestis during the 4th quarter worth about $48,292,000. 97.40% of the stock is owned by 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.