Vestis Co. (NYSE:VSTS) Receives $22.56 Consensus Price Target from Brokerages

Shares of Vestis Co. (NYSE:VSTS) have been given a consensus recommendation of “Moderate Buy” by the nine ratings firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $22.56.

A number of analysts recently issued reports on VSTS shares. 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 for the company. Barclays downgraded Vestis from an “equal weight” rating to an “underweight” rating and raised their price target for the stock from $17.00 to $19.00 in a research report on Wednesday, February 28th. Finally, The Goldman Sachs Group assumed coverage on Vestis in a research report on Thursday, January 25th. They set a “neutral” rating and a $22.00 target price for the company.

Insider Activity at Vestis

In other news, CEO Kim Scott acquired 15,000 shares of the firm’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 acquisition, the chief executive officer now directly owns 183,131 shares of the company’s stock, valued at approximately $3,505,127.34. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Hedge Funds Weigh In On Vestis

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

Vestis Price Performance

Shares of VSTS opened at $18.66 on Friday. The company has a quick ratio of 2.23, a current ratio of 2.61 and a debt-to-equity ratio of 1.73. Vestis has a 1 year low of $13.83 and a 1 year high of $22.37. The company has a 50 day simple moving average of $18.86 and a two-hundred day simple moving average of $18.60.

Vestis (NYSE:VSTS) last posted its earnings results on Wednesday, February 7th. The company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The company had revenue of $717.90 million for the quarter, compared to analysts’ expectations of $724.72 million. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. Sell-side analysts anticipate that Vestis will post 1.03 earnings per share for the current year.

Vestis Dividend Announcement

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

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.