Brokerages Set Vestis Corporation (NYSE:VSTS) PT at $5.88

Vestis Corporation (NYSE:VSTS) has been assigned a consensus rating of “Strong Sell” from the five research firms that are covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a sell recommendation and one has given a hold recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $5.8750.

A number of equities research analysts have issued reports on the company. Barclays reaffirmed an “underweight” rating on shares of Vestis in a research report on Tuesday, February 17th. The Goldman Sachs Group increased their price target on Vestis from $5.30 to $6.00 and gave the company a “sell” rating in a research report on Wednesday, February 11th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Vestis in a research report on Monday.

Institutional Investors Weigh In On Vestis

A number of hedge funds have recently bought and sold shares of VSTS. Royal Bank of Canada raised its position in Vestis by 1,520.5% in the 4th quarter. Royal Bank of Canada now owns 5,688,399 shares of the company’s stock valued at $37,942,000 after purchasing an additional 5,337,380 shares in the last quarter. Greenstone Partners & Co. LLC acquired a new stake in Vestis in the 4th quarter valued at about $33,979,000. Jacobs Levy Equity Management Inc. raised its position in Vestis by 1,265.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,960,150 shares of the company’s stock valued at $8,879,000 after purchasing an additional 1,816,633 shares in the last quarter. SG Americas Securities LLC raised its position in Vestis by 571.0% in the 1st quarter. SG Americas Securities LLC now owns 1,979,460 shares of the company’s stock valued at $15,559,000 after purchasing an additional 1,684,460 shares in the last quarter. Finally, Medina Value Partners LLC acquired a new stake in Vestis in the 3rd quarter valued at about $6,469,000. Institutional investors and hedge funds own 97.40% of the company’s stock.

Vestis Price Performance

VSTS opened at $9.51 on Tuesday. The stock’s 50-day moving average price is $8.09 and its 200 day moving average price is $6.87. Vestis has a 12-month low of $3.98 and a 12-month high of $10.38. The company has a current ratio of 2.17, a quick ratio of 1.74 and a debt-to-equity ratio of 1.48. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of -25.69 and a beta of 0.40.

Vestis (NYSE:VSTS) last posted its earnings results on Tuesday, February 10th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.04. The firm had revenue of $663.39 million for the quarter, compared to analyst estimates of $665.77 million. Vestis had a positive return on equity of 2.08% and a negative net margin of 1.75%.Vestis’s revenue was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.14 EPS. As a group, sell-side analysts expect that Vestis will post 0.43 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. The company serves manufacturing, hospitality, retail, food processing, food service, pharmaceuticals, healthcare, automotive, and cleanroom industries.