Vestis Corporation (NYSE:VSTS) Given Average Rating of “Reduce” by Brokerages

Vestis Corporation (NYSE:VSTS) has received an average recommendation of “Reduce” from the seven analysts that are currently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $9.50.

A number of analysts recently weighed in on the company. William Blair upgraded Vestis from a “market perform” rating to an “outperform” rating in a report on Tuesday, May 12th. Barclays increased their price objective on Vestis from $6.00 to $9.00 and gave the company an “underweight” rating in a report on Friday, May 15th. Stifel Nicolaus increased their price objective on Vestis from $8.50 to $11.00 and gave the company a “hold” rating in a report on Wednesday, May 13th. Robert W. Baird increased their price objective on Vestis from $10.00 to $14.00 and gave the company a “neutral” rating in a report on Wednesday, May 13th. Finally, The Goldman Sachs Group restated a “sell” rating and issued a $7.50 price objective on shares of Vestis in a report on Wednesday, May 13th.

Institutional Trading of Vestis

A number of institutional investors and hedge funds have recently bought and sold shares of VSTS. State of Wyoming grew its holdings in Vestis by 10.4% during the 4th quarter. State of Wyoming now owns 15,145 shares of the company’s stock worth $101,000 after acquiring an additional 1,428 shares during the period. Quantinno Capital Management LP grew its holdings in Vestis by 2.1% during the 1st quarter. Quantinno Capital Management LP now owns 86,042 shares of the company’s stock worth $676,000 after acquiring an additional 1,756 shares during the period. Captrust Financial Advisors grew its holdings in Vestis by 15.6% during the 2nd quarter. Captrust Financial Advisors now owns 20,599 shares of the company’s stock worth $118,000 after acquiring an additional 2,787 shares during the period. Nisa Investment Advisors LLC grew its holdings in Vestis by 147.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 5,175 shares of the company’s stock worth $35,000 after acquiring an additional 3,082 shares during the period. Finally, Farther Finance Advisors LLC grew its holdings in Vestis by 176.1% during the 4th quarter. Farther Finance Advisors LLC now owns 5,193 shares of the company’s stock worth $35,000 after acquiring an additional 3,312 shares during the period. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Vestis Stock Performance

Vestis stock opened at $12.92 on Wednesday. The business has a 50 day moving average of $10.39 and a 200-day moving average of $8.26. Vestis has a 1 year low of $3.98 and a 1 year high of $13.52. The company has a debt-to-equity ratio of 1.44, a current ratio of 2.13 and a quick ratio of 1.69. The company has a market capitalization of $1.71 billion, a P/E ratio of -92.25 and a beta of 1.08.

Vestis (NYSE:VSTS) last released its quarterly earnings data on Tuesday, May 12th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.07. The company had revenue of $659.44 million during the quarter, compared to the consensus estimate of $655.32 million. Vestis had a positive return on equity of 5.27% and a negative net margin of 0.63%.The firm’s revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.05) earnings per share. On average, equities research analysts predict that Vestis will post 0.52 earnings per share for the current year.

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. The company serves manufacturing, hospitality, retail, food processing, food service, pharmaceuticals, healthcare, automotive, and cleanroom industries.