Vestis Corporation (NYSE:VSTS) Receives $5.88 Average Price Target from Brokerages

Vestis Corporation (NYSE:VSTS) has been assigned an average rating of “Strong Sell” from the five ratings firms that are currently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation and one has issued a hold recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $5.8750.

Several brokerages recently issued reports on VSTS. The Goldman Sachs Group raised their price objective on Vestis from $5.30 to $6.00 and gave the stock a “sell” rating in a research note on Wednesday, February 11th. Robert W. Baird increased their target price on shares of Vestis from $5.00 to $6.50 and gave the stock a “neutral” rating in a report on Tuesday, December 2nd. Weiss Ratings restated a “sell (d)” rating on shares of Vestis in a research report on Wednesday, January 21st. JPMorgan Chase & Co. boosted their price objective on shares of Vestis from $5.50 to $6.00 and gave the company an “underweight” rating in a research report on Wednesday, December 3rd. Finally, Barclays reiterated an “underweight” rating on shares of Vestis in a research note on Tuesday, February 17th.

Vestis Price Performance

Shares of VSTS stock opened at $7.66 on Monday. The firm has a fifty day moving average of $7.09 and a two-hundred day moving average of $5.94. The firm has a market cap of $1.01 billion, a P/E ratio of -20.70 and a beta of 0.49. Vestis has a 1-year low of $3.98 and a 1-year high of $11.58. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.17 and a quick ratio of 1.74.

Vestis (NYSE:VSTS) last issued its quarterly earnings results on Tuesday, February 10th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.06 by $0.04. The business had revenue of $663.39 million for the quarter, compared to analysts’ expectations of $665.77 million. Vestis had a negative net margin of 1.75% and a positive return on equity of 2.08%. The company’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.14 earnings per share. As a group, research analysts anticipate that Vestis will post 0.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Douglas A. Pertz acquired 15,000 shares of Vestis stock in a transaction that occurred on Friday, December 19th. The stock was acquired at an average price of $6.90 per share, for a total transaction of $103,500.00. Following the transaction, the director directly owned 322,010 shares of the company’s stock, valued at $2,221,869. This trade represents a 4.89% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Keith A. Meister acquired 209,842 shares of the stock in a transaction that occurred on Wednesday, December 17th. The shares were bought at an average price of $6.79 per share, with a total value of $1,424,827.18. Following the completion of the purchase, the director owned 19,813,963 shares in the company, valued at $134,536,808.77. The trade was a 1.07% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have purchased 1,041,810 shares of company stock valued at $7,096,894. Insiders own 15.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC boosted its position in shares of Vestis by 147.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,175 shares of the company’s stock worth $35,000 after buying an additional 3,082 shares during the period. Farther Finance Advisors LLC raised its stake in Vestis by 176.1% during the 4th quarter. Farther Finance Advisors LLC now owns 5,193 shares of the company’s stock valued at $35,000 after acquiring an additional 3,312 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new position in Vestis during the 4th quarter worth $36,000. EverSource Wealth Advisors LLC grew its stake in shares of Vestis by 471.9% in the second quarter. EverSource Wealth Advisors LLC now owns 5,456 shares of the company’s stock worth $31,000 after purchasing an additional 4,502 shares in the last quarter. Finally, Osaic Holdings Inc. grew its stake in shares of Vestis by 703.2% in the second quarter. Osaic Holdings Inc. now owns 5,743 shares of the company’s stock worth $33,000 after purchasing an additional 5,028 shares in 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. The company serves manufacturing, hospitality, retail, food processing, food service, pharmaceuticals, healthcare, automotive, and cleanroom industries.