Brokerages Set Vestis Co. (NYSE:VSTS) Price Target at $13.08

Shares of Vestis Co. (NYSE:VSTS) have earned an average rating of “Reduce” from the six research firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $13.00.

A number of research firms have issued reports on VSTS. The Goldman Sachs Group reduced their target price on shares of Vestis from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Monday, March 17th. Robert W. Baird decreased their price objective on shares of Vestis from $17.00 to $13.00 and set a “neutral” rating for the company in a report on Thursday, March 20th. Finally, Barclays decreased their price target on Vestis from $13.00 to $10.00 and set an “underweight” rating for the company in a research note on Friday, April 4th.

Institutional Investors Weigh In On Vestis

A number of institutional investors have recently added to or reduced their stakes in VSTS. True Wealth Design LLC bought a new stake in shares of Vestis in the 4th quarter worth approximately $29,000. Spire Wealth Management bought a new position in Vestis in the fourth quarter worth $29,000. Smartleaf Asset Management LLC boosted its stake in Vestis by 548.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,510 shares of the company’s stock worth $38,000 after buying an additional 2,123 shares in the last quarter. GAMMA Investing LLC increased its holdings in Vestis by 17.9% in the 4th quarter. GAMMA Investing LLC now owns 4,670 shares of the company’s stock valued at $71,000 after buying an additional 710 shares during the period. Finally, Copeland Capital Management LLC lifted its holdings in shares of Vestis by 33.0% during the 1st quarter. Copeland Capital Management LLC now owns 5,428 shares of the company’s stock worth $54,000 after acquiring an additional 1,346 shares during the period. 97.40% of the stock is owned by institutional investors and hedge funds.

Vestis Stock Performance

Shares of VSTS opened at $6.28 on Tuesday. The company has a market capitalization of $826.70 million, a PE ratio of 78.45 and a beta of 1.61. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.43 and a current ratio of 1.80. The company’s 50 day moving average price is $9.18 and its 200 day moving average price is $12.94. Vestis has a 52 week low of $5.20 and a 52 week high of $17.83.

Vestis (NYSE:VSTS) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.20). Vestis had a return on equity of 7.91% and a net margin of 0.34%. The company had revenue of $665.25 million during the quarter, compared to analyst estimates of $690.81 million. The firm’s revenue was down 5.7% compared to the same quarter last year. Research analysts expect that Vestis will post 0.7 EPS for the current fiscal 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.