Brokerages Set Vestis Corporation (NYSE:VSTS) Price Target at $9.13

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

A number of research analysts have weighed in on the stock. Wall Street Zen upgraded shares of Vestis from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Weiss Ratings reiterated a “sell (d)” rating on shares of Vestis in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. decreased their price objective 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.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of VSTS. Alberta Investment Management Corp raised its position in shares of Vestis by 57.7% in the second quarter. Alberta Investment Management Corp now owns 9,692,000 shares of the company’s stock worth $55,535,000 after acquiring an additional 3,547,000 shares during the period. Royce & Associates LP raised its position in shares of Vestis by 196.2% during the 1st quarter. Royce & Associates LP now owns 2,842,936 shares of the company’s stock worth $28,145,000 after purchasing an additional 1,883,106 shares during the last quarter. Jane Street Group LLC raised its position in shares of Vestis by 700.5% during the 1st quarter. Jane Street Group LLC now owns 1,982,027 shares of the company’s stock worth $19,622,000 after purchasing an additional 1,734,442 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Vestis by 49.4% during the 1st quarter. AQR Capital Management LLC now owns 4,669,670 shares of the company’s stock worth $45,950,000 after purchasing an additional 1,544,001 shares during the last quarter. Finally, Stanley Capital Management LLC raised its position in shares of Vestis by 163.6% during the 1st quarter. Stanley Capital Management LLC now owns 2,191,107 shares of the company’s stock worth $21,692,000 after purchasing an additional 1,359,807 shares during the last quarter. Institutional investors and hedge funds own 97.40% of the company’s stock.

Vestis Trading Down 2.0%

NYSE VSTS opened at $5.13 on Tuesday. The company has a market capitalization of $675.68 million, a PE ratio of -22.28 and a beta of 0.97. The company has a fifty day moving average of $4.65 and a 200 day moving average of $5.75. Vestis has a 1 year low of $3.98 and a 1 year high of $17.83. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.84 and a quick ratio of 1.42.

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

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.