Vestis Corporation (NYSE:VSTS) Receives $5.88 Average PT from Analysts

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

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

Vestis Trading Up 0.2%

Shares of Vestis stock opened at $7.73 on Friday. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.74 and a current ratio of 2.17. The company has a market capitalization of $1.02 billion, a P/E ratio of -20.89 and a beta of 0.48. Vestis has a 1 year low of $3.98 and a 1 year high of $10.24. The company’s fifty day moving average is $7.44 and its two-hundred day moving average is $6.32.

Vestis (NYSE:VSTS) last announced its earnings results on Tuesday, February 10th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.04. Vestis had a negative net margin of 1.75% and a positive return on equity of 2.08%. The business had revenue of $663.39 million during the quarter, compared to analysts’ expectations of $665.77 million. During the same period in the prior year, the company earned $0.14 earnings per share. The business’s revenue was down 3.0% compared to the same quarter last year. Analysts forecast that Vestis will post 0.7 earnings per share for the current year.

Institutional Trading of Vestis

Several hedge funds have recently made changes to their positions in VSTS. Nisa Investment Advisors LLC increased its stake 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 acquiring an additional 3,082 shares during the period. Farther Finance Advisors LLC lifted its position in Vestis by 176.1% in the fourth quarter. Farther Finance Advisors LLC now owns 5,193 shares of the company’s stock valued at $35,000 after purchasing an additional 3,312 shares during the period. Eurizon Capital SGR S.p.A. purchased a new stake in Vestis in the 4th quarter valued at approximately $36,000. EverSource Wealth Advisors LLC increased its position in Vestis by 471.9% during the 2nd 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 during the period. Finally, Osaic Holdings Inc. increased its position in Vestis by 703.2% during the 2nd quarter. Osaic Holdings Inc. now owns 5,743 shares of the company’s stock worth $33,000 after purchasing an additional 5,028 shares during the period. Institutional investors and hedge funds 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. The company serves manufacturing, hospitality, retail, food processing, food service, pharmaceuticals, healthcare, automotive, and cleanroom industries.