JPMorgan Chase & Co. Issues Positive Forecast for Vestis (NYSE:VSTS) Stock Price

Vestis (NYSE:VSTS) had its target price raised by JPMorgan Chase & Co. from $5.50 to $6.00 in a research report report published on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the stock.

A number of other research analysts have also commented on the company. Robert W. Baird upped their price target on Vestis from $5.00 to $6.50 and gave the company a “neutral” rating in a research report on Tuesday. Weiss Ratings reissued a “sell (d)” rating on shares of Vestis in a research note on Wednesday, October 8th. The Goldman Sachs Group upped their target price on Vestis from $5.50 to $6.30 and gave the company a “neutral” rating in a report on Tuesday. Finally, Wall Street Zen raised Vestis from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Two analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Vestis has an average rating of “Strong Sell” and an average price target of $5.95.

Vestis Trading Up 2.3%

NYSE:VSTS opened at $6.37 on Wednesday. The firm has a market capitalization of $840.22 million, a P/E ratio of -20.56 and a beta of 0.78. The company has a quick ratio of 1.42, a current ratio of 2.08 and a debt-to-equity ratio of 1.49. The company has a fifty day moving average of $5.30 and a 200 day moving average of $5.41. Vestis has a 52 week low of $3.98 and a 52 week high of $17.83.

Vestis (NYSE:VSTS) last released its quarterly earnings data on Monday, December 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.13). The firm had revenue of $712.01 million during the quarter, compared to analysts’ expectations of $690.65 million. Vestis had a negative net margin of 1.47% and a positive return on equity of 2.62%. Vestis’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.11 EPS. On average, research analysts predict that Vestis will post 0.7 earnings per share for the current year.

Institutional Investors Weigh In On Vestis

Several hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC lifted its holdings in shares of Vestis by 471.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,456 shares of the company’s stock worth $31,000 after acquiring an additional 4,502 shares during the last quarter. Osaic Holdings Inc. grew its holdings in Vestis by 703.2% during the 2nd quarter. Osaic Holdings Inc. now owns 5,743 shares of the company’s stock valued at $33,000 after purchasing an additional 5,028 shares during the last quarter. Simplicity Wealth LLC purchased a new stake in Vestis in the 3rd quarter worth about $46,000. Sanders Morris Harris LLC purchased a new stake in Vestis in the 3rd quarter worth about $47,000. Finally, PNC Financial Services Group Inc. lifted its stake in Vestis by 331.4% in the second quarter. PNC Financial Services Group Inc. now owns 9,427 shares of the company’s stock worth $54,000 after purchasing an additional 7,242 shares during the last quarter. Institutional investors 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.