Vestis Co. (NYSE:VSTS) Receives Average Rating of “Hold” from Analysts

Shares of Vestis Co. (NYSE:VSTS) have earned an average recommendation of “Hold” from the ten brokerages that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $17.43.

Several equities research analysts recently weighed in on VSTS shares. JPMorgan Chase & Co. increased their price objective on shares of Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Barclays boosted their price objective on Vestis from $10.00 to $13.00 and gave the company an “underweight” rating in a research report on Friday, November 22nd. Robert W. Baird downgraded Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 price objective for the company. in a research note on Thursday, August 8th. The Goldman Sachs Group increased their price objective on shares of Vestis from $13.60 to $15.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, Baird R W lowered shares of Vestis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 8th.

Institutional Investors Weigh In On Vestis

Institutional investors and hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC lifted its position in shares of Vestis by 223.0% during the 2nd quarter. AQR Capital Management LLC now owns 3,753,889 shares of the company’s stock valued at $45,197,000 after acquiring an additional 2,591,593 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Vestis by 111.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,631,652 shares of the company’s stock valued at $39,212,000 after purchasing an additional 1,384,413 shares during the last quarter. TOMS Capital Investment Management LP lifted its holdings in shares of Vestis by 22.7% during the third quarter. TOMS Capital Investment Management LP now owns 2,330,155 shares of the company’s stock valued at $34,719,000 after purchasing an additional 430,555 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Vestis by 9.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,156,811 shares of the company’s stock worth $32,136,000 after purchasing an additional 192,525 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Vestis by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,541,710 shares of the company’s stock worth $18,854,000 after buying an additional 8,997 shares during the period. 97.40% of the stock is owned by institutional investors and hedge funds.

Vestis Stock Performance

VSTS stock opened at $16.08 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.36 and a debt-to-equity ratio of 1.40. Vestis has a 12-month low of $8.92 and a 12-month high of $22.37. The stock’s 50 day simple moving average is $14.69 and its 200 day simple moving average is $13.48. The firm has a market cap of $2.12 billion and a P/E ratio of 100.51.

Vestis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Friday, December 13th. Vestis’s payout ratio is currently 87.51%.

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.