Robert W. Baird Cuts Vestis (NYSE:VSTS) Price Target to $13.00

Vestis (NYSE:VSTS) had its target price lowered by Robert W. Baird from $17.00 to $13.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other research firms also recently commented on VSTS. JPMorgan Chase & Co. raised their price objective on Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. The Goldman Sachs Group cut their price objective on Vestis from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Monday. Finally, Barclays raised their price objective on Vestis from $10.00 to $13.00 and gave the stock an “underweight” rating in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $13.68.

Vestis Stock Performance

NYSE VSTS opened at $10.14 on Thursday. The business’s 50-day moving average price is $13.52 and its 200 day moving average price is $14.56. Vestis has a twelve month low of $8.92 and a twelve month high of $19.76. The company has a market capitalization of $1.34 billion, a PE ratio of 126.70 and a beta of 1.40. The company has a current ratio of 1.80, a quick ratio of 1.43 and a debt-to-equity ratio of 1.39.

Vestis (NYSE:VSTS) last released its earnings results on Friday, January 31st. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. Vestis had a return on equity of 7.91% and a net margin of 0.34%. During the same quarter in the prior year, the firm earned $0.22 EPS. On average, research analysts predict that Vestis will post 0.7 earnings per share for the current year.

Vestis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Friday, February 21st were paid a $0.035 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.38%. Vestis’s dividend payout ratio (DPR) is currently 175.00%.

Institutional Investors Weigh In On Vestis

A number of large investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC grew its stake in shares of Vestis by 66.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 73,271 shares of the company’s stock valued at $1,117,000 after buying an additional 29,319 shares in the last quarter. QSM Asset Management Ltd acquired a new stake in Vestis during the 4th quarter valued at approximately $6,560,000. Pullen Investment Management LLC acquired a new stake in Vestis during the 4th quarter valued at approximately $918,000. Mackenzie Financial Corp acquired a new stake in Vestis during the 4th quarter valued at approximately $300,000. Finally, Toronto Dominion Bank acquired a new stake in Vestis during the 4th quarter valued at approximately $154,000. Institutional investors and hedge funds own 97.40% of the company’s stock.

About Vestis

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.