Vestis Co. (NYSE:VSTS) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Vestis Co. (NYSE:VSTS) has been given an average recommendation of “Moderate Buy” by the nine analysts that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $22.56.

A number of research firms have recently issued reports on VSTS. Barclays lowered Vestis from an “equal weight” rating to an “underweight” rating and boosted their target price for the company from $17.00 to $19.00 in a report on Wednesday, February 28th. Wolfe Research assumed coverage on Vestis in a research note on Thursday, January 11th. They issued an “outperform” rating and a $24.00 price target on the stock. Finally, The Goldman Sachs Group assumed coverage on Vestis in a research note on Thursday, January 25th. They issued a “neutral” rating and a $22.00 price target on the stock.

Insider Activity at Vestis

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

Institutional Investors Weigh In On Vestis

Several institutional investors and hedge funds have recently added to or reduced their stakes in VSTS. Strs Ohio acquired a new stake in shares of Vestis in the third quarter valued at about $359,000. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Vestis in the third quarter valued at about $1,318,000. Wolverine Asset Management LLC acquired a new stake in shares of Vestis in the third quarter valued at about $2,412,000. CI Investments Inc. acquired a new stake in shares of Vestis in the third quarter valued at about $28,000. Finally, Soros Fund Management LLC acquired a new stake in shares of Vestis in the third quarter valued at about $14,714,000. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Vestis Trading Down 1.2 %

Shares of VSTS opened at $18.57 on Friday. The stock has a 50-day simple moving average of $18.86 and a 200-day simple moving average of $18.57. Vestis has a 1 year low of $13.83 and a 1 year high of $22.37. The company has a current ratio of 2.61, a quick ratio of 2.23 and a debt-to-equity ratio of 1.73.

Vestis (NYSE:VSTS) last released its quarterly earnings results on Wednesday, February 7th. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). The business had revenue of $717.90 million during the quarter, compared to the consensus estimate of $724.72 million. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, equities analysts forecast that Vestis will post 1.03 earnings per share for the current year.

Vestis Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were given a $0.035 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.14 annualized dividend and a dividend yield of 0.75%.

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.