Vestis (NYSE:VSTS) Price Target Raised to $15.00

Vestis (NYSE:VSTS) had its target price lifted by equities research analysts at The Goldman Sachs Group from $13.60 to $15.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective suggests a potential downside of 6.37% from the company’s previous close.

Several other equities research analysts have also recently weighed in on VSTS. Robert W. Baird cut Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 target price for the company. in a report on Thursday, August 8th. Baird R W lowered Vestis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. lifted their target price on shares of Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, Barclays increased their price target on shares of Vestis from $10.00 to $13.00 and gave the company an “underweight” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, Vestis presently has an average rating of “Hold” and an average target price of $17.43.

Vestis Stock Performance

NYSE VSTS opened at $16.02 on Friday. The company has a 50-day simple moving average of $14.60 and a two-hundred day simple moving average of $13.30. Vestis has a 12-month low of $8.92 and a 12-month high of $22.37. The firm has a market cap of $2.11 billion and a price-to-earnings ratio of 100.13. The company has a quick ratio of 2.02, a current ratio of 1.73 and a debt-to-equity ratio of 1.40.

Institutional Investors Weigh In On Vestis

Institutional investors and hedge funds have recently modified their holdings of the stock. Brooklyn Investment Group purchased a new position in shares of Vestis during the third quarter valued at about $27,000. Nomura Asset Management Co. Ltd. grew its holdings in shares of Vestis by 104.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,000 shares of the company’s stock worth $30,000 after acquiring an additional 1,020 shares during the period. Capital Performance Advisors LLP bought a new position in shares of Vestis in the 3rd quarter worth approximately $41,000. Canada Pension Plan Investment Board purchased a new position in shares of Vestis in the 2nd quarter valued at approximately $44,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Vestis during the third quarter valued at approximately $51,000. 97.40% of the stock is owned by hedge funds and other 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.