Vestis Corporation (NYSE:VSTS) Receives $9.13 Average PT from Analysts

Vestis Corporation (NYSE:VSTS) has been given an average recommendation of “Strong Sell” by the five analysts that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation and two have given a hold recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $9.1250.

A number of analysts have recently commented on VSTS shares. Wall Street Zen upgraded shares of Vestis from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. JPMorgan Chase & Co. lowered their price target on shares of Vestis from $6.00 to $5.50 and set an “underweight” rating for the company in a research report on Thursday, August 7th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Vestis in a report on Saturday, September 27th.

Vestis Stock Up 4.0%

VSTS stock opened at $5.06 on Friday. Vestis has a fifty-two week low of $3.98 and a fifty-two week high of $17.83. The company has a market capitalization of $666.45 million, a price-to-earnings ratio of -21.98 and a beta of 0.97. The business’s 50 day moving average price is $4.74 and its two-hundred day moving average price is $6.26. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.42 and a current ratio of 1.84.

Vestis (NYSE:VSTS) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.05 earnings per share for the quarter, meeting the consensus estimate of $0.05. The company had revenue of $673.80 million for the quarter, compared to analyst estimates of $673.65 million. Vestis had a positive return on equity of 3.76% and a negative net margin of 1.11%.The firm’s revenue was down 3.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.16 earnings per share. As a group, analysts forecast that Vestis will post 0.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp purchased a new stake in shares of Vestis in the fourth quarter worth $300,000. Wealth Enhancement Advisory Services LLC raised its position in shares of Vestis by 66.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 73,271 shares of the company’s stock worth $1,117,000 after purchasing an additional 29,319 shares during the last quarter. GAMMA Investing LLC boosted its stake in Vestis by 895.9% in the 1st quarter. GAMMA Investing LLC now owns 46,510 shares of the company’s stock worth $4,698,000 after purchasing an additional 41,840 shares in the last quarter. Merit Financial Group LLC grew its position in Vestis by 40.6% during the 1st quarter. Merit Financial Group LLC now owns 21,545 shares of the company’s stock valued at $213,000 after purchasing an additional 6,219 shares during the last quarter. Finally, Annex Advisory Services LLC increased its stake in Vestis by 26.7% during the 1st quarter. Annex Advisory Services LLC now owns 372,416 shares of the company’s stock valued at $3,687,000 after purchasing an additional 78,517 shares in the last quarter. Hedge funds and other institutional investors own 97.40% of the company’s stock.

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.