Vestis (NYSE:VSTS) Receives “Hold” Rating from Stifel Nicolaus

Vestis (NYSE:VSTS)‘s stock had its “hold” rating reissued by investment analysts at Stifel Nicolaus in a note issued to investors on Friday, Marketbeat reports.

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

Vestis Trading Down 7.4 %

Shares of Vestis stock opened at $9.41 on Friday. Vestis has a 1 year low of $8.92 and a 1 year high of $22.37. The business has a fifty day simple moving average of $18.38 and a two-hundred day simple moving average of $18.69. The company has a quick ratio of 2.23, a current ratio of 2.51 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.09). The firm had revenue of $705.37 million for the quarter, compared to the consensus estimate of $722.54 million. The firm’s revenue was up .9% on a year-over-year basis. On average, research analysts anticipate that Vestis will post 1.03 earnings per share for the current year.

Insider Activity at Vestis

In other Vestis news, CEO Kim Scott bought 15,000 shares of the business’s stock in a transaction 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 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 filing with the SEC, which is available at this link.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Nordea Investment Management AB acquired a new stake in shares of Vestis in the 4th quarter valued at approximately $3,909,000. Wolverine Asset Management LLC increased its position in Vestis by 48.0% during the 4th quarter. Wolverine Asset Management LLC now owns 185,000 shares of the company’s stock worth $3,911,000 after purchasing an additional 60,000 shares in the last quarter. New York State Teachers Retirement System bought a new position in Vestis in the 4th quarter valued at approximately $1,697,000. State of New Jersey Common Pension Fund D acquired a new stake in Vestis in the fourth quarter valued at approximately $3,160,000. Finally, Yousif Capital Management LLC bought a new stake in shares of Vestis during the fourth quarter worth $1,400,000. Institutional investors and hedge funds own 97.40% of the company’s stock.

About Vestis

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.