Vestis (NYSE:VSTS) Given New $13.00 Price Target at Robert W. Baird

Vestis (NYSE:VSTS) had its price target lowered by research analysts at Robert W. Baird from $24.00 to $13.00 in a research note issued on Friday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s price objective would suggest a potential upside of 38.15% from the company’s current price.

Several other analysts also recently weighed in on VSTS. Wolfe Research began 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. The Goldman Sachs Group began 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. Finally, Barclays downgraded Vestis from an “equal weight” rating to an “underweight” rating and upped their price target for the stock from $17.00 to $19.00 in a research note on Wednesday, February 28th. 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. Based on data from MarketBeat.com, Vestis currently has an average rating of “Hold” and a consensus target price of $19.33.

Vestis Trading Down 7.4 %

VSTS stock opened at $9.41 on Friday. Vestis has a fifty-two week low of $8.92 and a fifty-two week high of $22.37. The business’s 50 day moving average price is $18.38 and its two-hundred day moving average price is $18.69. The company has a current ratio of 2.51, a quick ratio of 2.23 and a debt-to-equity ratio of 1.69.

Vestis (NYSE:VSTS) last posted its earnings results on Thursday, May 2nd. The company reported $0.13 earnings per share 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. The company’s quarterly revenue was up .9% on a year-over-year basis. Sell-side analysts forecast that Vestis will post 1.03 EPS for the current year.

Insider Buying and Selling

In other news, CEO Kim Scott bought 15,000 shares of Vestis stock in a transaction that occurred on Friday, February 9th. The stock was bought at an average cost of $19.14 per share, with a total value of $287,100.00. Following the acquisition, the chief executive officer now owns 183,131 shares of the company’s stock, valued at approximately $3,505,127.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Investors Weigh In On Vestis

A number of institutional investors have recently added to or reduced their stakes in the stock. DAVENPORT & Co LLC purchased a new stake in Vestis during the 1st quarter valued at approximately $21,712,000. Iridian Asset Management LLC CT purchased a new stake in Vestis during the 1st quarter valued at approximately $257,000. Capstone Investment Advisors LLC purchased a new stake in Vestis during the 1st quarter valued at approximately $409,000. Commonwealth Equity Services LLC grew its holdings in Vestis by 2.3% during the 1st quarter. Commonwealth Equity Services LLC now owns 120,230 shares of the company’s stock valued at $2,317,000 after buying an additional 2,686 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Vestis by 0.7% during the 1st quarter. Principal Financial Group Inc. now owns 677,163 shares of the company’s stock valued at $13,049,000 after buying an additional 4,572 shares in the last quarter. 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.