Vestis Co. (NYSE:VSTS) Given Consensus Recommendation of “Reduce” by Analysts

Shares of Vestis Co. (NYSE:VSTS) have been given an average recommendation of “Reduce” by the eight research firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and seven 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 $13.08.

A number of equities research analysts recently commented on the company. Barclays decreased their target price on Vestis from $13.00 to $10.00 and set an “underweight” rating for the company in a report on Friday, April 4th. Robert W. Baird decreased their price objective on shares of Vestis from $17.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, March 20th. Finally, The Goldman Sachs Group cut their price objective on shares of Vestis from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Monday, March 17th.

Vestis Stock Up 3.0 %

VSTS stock opened at $7.67 on Friday. The company has a quick ratio of 1.43, a current ratio of 1.80 and a debt-to-equity ratio of 1.39. Vestis has a 52 week low of $7.35 and a 52 week high of $19.11. The stock has a market capitalization of $1.01 billion, a PE ratio of 95.82 and a beta of 1.55. The firm has a 50 day moving average of $10.64 and a 200 day moving average of $13.63.

Vestis (NYSE:VSTS) last announced its quarterly earnings data on Friday, January 31st. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. Vestis had a net margin of 0.34% and a return on equity of 7.91%. During the same quarter last year, the firm earned $0.22 EPS. Sell-side analysts forecast that Vestis will post 0.7 earnings per share for the current year.

Vestis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Friday, February 21st were issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend was Friday, February 21st. Vestis’s dividend payout ratio (DPR) is 175.00%.

Institutional Trading of Vestis

A number of hedge funds have recently added to or reduced their stakes in the company. True Wealth Design LLC acquired a new position in shares of Vestis in the fourth quarter worth about $29,000. Spire Wealth Management purchased a new position in shares of Vestis in the 4th quarter valued at about $29,000. Nomura Asset Management Co. Ltd. raised its holdings in Vestis by 104.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,000 shares of the company’s stock worth $30,000 after purchasing an additional 1,020 shares during the period. Smartleaf Asset Management LLC boosted its position in Vestis by 548.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,510 shares of the company’s stock worth $38,000 after purchasing an additional 2,123 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in Vestis by 17.9% in the fourth quarter. GAMMA Investing LLC now owns 4,670 shares of the company’s stock valued at $71,000 after purchasing an additional 710 shares during the period. 97.40% of the stock is owned by hedge funds and other institutional investors.

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.