Vestis (NYSE:VSTS) Rating Reiterated by Stifel Nicolaus

Vestis (NYSE:VSTS)‘s stock had its “hold” rating restated by investment analysts at Stifel Nicolaus in a research report issued on Friday, MarketBeat reports.

Other research analysts also recently issued research reports about the stock. The Goldman Sachs Group initiated coverage on shares of Vestis in a report on Thursday, January 25th. They issued a “neutral” rating and a $22.00 target price on the stock. Barclays dropped their price objective on Vestis from $19.00 to $10.00 and set an “underweight” rating on the stock in a research note on Friday. Robert W. Baird decreased their target price on Vestis from $24.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday. Wolfe Research started coverage on Vestis in a research report on Thursday, January 11th. They issued an “outperform” rating and a $24.00 price target on the stock. Finally, JPMorgan Chase & Co. lowered Vestis from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $22.00 to $11.00 in a report on Friday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $19.33.

Vestis Trading Down 7.4 %

VSTS opened at $9.41 on Friday. The company has a current ratio of 2.51, a quick ratio of 2.23 and a debt-to-equity ratio of 1.69. The stock has a 50-day moving average of $18.38 and a 200-day moving average of $18.69. Vestis has a 52-week low of $8.92 and a 52-week high of $22.37.

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

Insider Activity at Vestis

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

Institutional Investors Weigh In On Vestis

Institutional investors have recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust acquired a new position in shares of Vestis in the 4th quarter worth approximately $25,000. Sound Income Strategies LLC acquired a new position in Vestis during the fourth quarter worth $25,000. CI Investments Inc. bought a new position in shares of Vestis during the third quarter valued at $28,000. Daiwa Securities Group Inc. acquired a new stake in shares of Vestis in the 4th quarter valued at $34,000. Finally, Wahed Invest LLC bought a new stake in shares of Vestis in the 4th quarter worth about $42,000. 97.40% of the stock is owned by institutional investors and hedge funds.

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.