Vestis Co. (NYSE:VSTS) Given Average Rating of “Reduce” by Analysts

Vestis Co. (NYSE:VSTS) has received an average rating of “Reduce” from the eight research firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $13.68.

A number of research firms have recently issued reports on VSTS. JPMorgan Chase & Co. lifted their price target on shares of Vestis from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Barclays lifted their price target on shares of Vestis from $10.00 to $13.00 and gave the company an “underweight” rating in a research report on Friday, November 22nd. Finally, The Goldman Sachs Group cut their price objective on Vestis from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Monday.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of VSTS. Sigma Planning Corp acquired a new position in Vestis in the 3rd quarter valued at $159,000. Victory Capital Management Inc. raised its holdings in Vestis by 12.2% in the 3rd quarter. Victory Capital Management Inc. now owns 63,551 shares of the company’s stock valued at $947,000 after acquiring an additional 6,916 shares during the last quarter. KBC Group NV grew its stake in shares of Vestis by 51.9% during the 3rd quarter. KBC Group NV now owns 4,741 shares of the company’s stock valued at $71,000 after buying an additional 1,619 shares during the period. Royce & Associates LP grew its stake in shares of Vestis by 10.7% during the 3rd quarter. Royce & Associates LP now owns 689,389 shares of the company’s stock valued at $10,272,000 after buying an additional 66,621 shares during the period. Finally, LMR Partners LLP grew its stake in shares of Vestis by 726.8% during the 3rd quarter. LMR Partners LLP now owns 160,528 shares of the company’s stock valued at $2,392,000 after buying an additional 141,113 shares during the period. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Vestis Stock Performance

VSTS traded up $0.40 during trading on Monday, reaching $11.21. The company’s stock had a trading volume of 810,190 shares, compared to its average volume of 1,463,509. Vestis has a 52-week low of $8.92 and a 52-week high of $19.76. The company’s fifty day moving average price is $13.97 and its 200-day moving average price is $14.66. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 140.08 and a beta of 1.40. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.43 and a current ratio of 1.80.

Vestis (NYSE:VSTS) last posted its quarterly earnings results on Friday, January 31st. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. Vestis had a net margin of 0.34% and a return on equity of 7.91%. During the same quarter in the prior year, the business posted $0.22 earnings per share. On average, equities analysts forecast that Vestis will post 0.7 earnings per share for the current fiscal year.

Vestis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Friday, February 21st will be given a dividend of $0.035 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $0.14 annualized dividend and a dividend yield of 1.25%. Vestis’s dividend payout ratio is currently 175.00%.

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.