Vestis Co. (NYSE:VSTS) Receives $22.56 Average Price Target from Brokerages

Shares of Vestis Co. (NYSE:VSTS) have received an average rating of “Moderate Buy” from the nine research firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $22.56.

VSTS has been the topic of a number of recent analyst reports. Wolfe Research assumed coverage on Vestis in a research note on Thursday, January 11th. They set an “outperform” rating and a $24.00 target price on the stock. Barclays cut Vestis from an “equal weight” rating to an “underweight” rating and boosted their price objective for the company from $17.00 to $19.00 in a research note on Wednesday, February 28th. Finally, The Goldman Sachs Group assumed coverage on Vestis in a research note on Thursday, January 25th. They issued a “neutral” rating and a $22.00 price objective on the stock.

Insider Transactions at Vestis

In other Vestis news, CEO Kim Scott acquired 15,000 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was bought at an average price of $19.14 per share, with a total value of $287,100.00. Following the completion of the acquisition, the chief executive officer now owns 183,131 shares of the company’s stock, valued at $3,505,127.34. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Institutional Trading of Vestis

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Strs Ohio bought a new stake in Vestis in the third quarter valued at approximately $359,000. Mitsubishi UFJ Trust & Banking Corp bought a new stake in Vestis in the third quarter valued at approximately $1,318,000. Wolverine Asset Management LLC bought a new stake in Vestis in the third quarter valued at approximately $2,412,000. CI Investments Inc. bought a new stake in Vestis in the third quarter valued at approximately $28,000. Finally, Soros Fund Management LLC bought a new stake in Vestis in the third quarter valued at approximately $14,714,000. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Vestis Price Performance

Shares of NYSE:VSTS opened at $18.83 on Friday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 2.23 and a current ratio of 2.61. The stock’s fifty day simple moving average is $18.82 and its two-hundred day simple moving average is $18.65. Vestis has a 1-year low of $13.83 and a 1-year high of $22.37.

Vestis (NYSE:VSTS) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.01). The business had revenue of $717.90 million during the quarter, compared to analyst estimates of $724.72 million. The company’s revenue was up 2.5% compared to the same quarter last year. Research analysts expect that Vestis will post 1.03 EPS for the current year.

Vestis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 0.74%. The ex-dividend date was Thursday, March 14th.

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.