Vestis (NYSE:VSTS) PT Lowered to $10.00

Vestis (NYSE:VSTS) had its price objective cut by investment analysts at Barclays from $19.00 to $10.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Barclays‘s target price suggests a potential upside of 6.27% from the stock’s previous close.

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

Vestis Stock Down 7.4 %

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

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 the consensus estimate of $0.22 by ($0.09). The company had revenue of $705.37 million during the quarter, compared to analyst estimates of $722.54 million. Vestis’s revenue for the quarter was up .9% compared to the same quarter last year. Analysts forecast that Vestis will post 1.03 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in VSTS. Sound Income Strategies LLC bought a new stake in Vestis during the fourth quarter worth $25,000. Parkside Financial Bank & Trust bought a new position in shares of Vestis during the 4th quarter worth approximately $25,000. CI Investments Inc. purchased a new position in shares of Vestis in the 3rd quarter worth approximately $28,000. Daiwa Securities Group Inc. bought a new position in shares of Vestis in the fourth quarter valued at approximately $34,000. Finally, TFO Wealth Partners LLC purchased a new stake in shares of Vestis during the fourth quarter valued at approximately $42,000. 97.40% of the stock is owned by 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.