Robert W. Baird Forecasts Strong Price Appreciation for Vestis (NYSE:VSTS) Stock

Vestis (NYSE:VSTS) had its target price increased by analysts at Robert W. Baird from $10.00 to $14.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s price target points to a potential upside of 16.93% from the stock’s previous close.

A number of other research analysts have also recently weighed in on VSTS. William Blair raised shares of Vestis from a “market perform” rating to an “outperform” rating in a report on Tuesday. The Goldman Sachs Group reaffirmed a “sell” rating on shares of Vestis in a report on Wednesday. Barclays reaffirmed an “underweight” rating on shares of Vestis in a report on Tuesday, February 17th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Vestis in a report on Monday, April 20th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $8.67.

Vestis Trading Up 28.7%

NYSE VSTS opened at $11.97 on Wednesday. The company has a market capitalization of $1.58 billion, a PE ratio of -32.36 and a beta of 0.85. The company has a fifty day moving average of $8.54 and a 200 day moving average of $7.27. Vestis has a 1 year low of $3.98 and a 1 year high of $12.47. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.17 and a quick ratio of 1.74.

Vestis (NYSE:VSTS) last posted its earnings results on Tuesday, May 12th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.07. The company had revenue of $659.44 million during the quarter, compared to the consensus estimate of $655.32 million. Vestis had a negative net margin of 1.75% and a positive return on equity of 2.08%. The firm’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.05) earnings per share. Research analysts forecast that Vestis will post 0.43 earnings per share for the current year.

Hedge Funds Weigh In On Vestis

Large investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC lifted its holdings in shares of Vestis by 471.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,456 shares of the company’s stock worth $31,000 after acquiring an additional 4,502 shares during the last quarter. Osaic Holdings Inc. lifted its holdings in shares of Vestis by 703.2% in the 2nd quarter. Osaic Holdings Inc. now owns 5,743 shares of the company’s stock worth $33,000 after acquiring an additional 5,028 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Vestis by 147.3% in the 4th 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 last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Vestis by 176.1% in the 4th quarter. Farther Finance Advisors LLC now owns 5,193 shares of the company’s stock worth $35,000 after acquiring an additional 3,312 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new position in shares of Vestis in the 4th quarter worth approximately $36,000. 97.40% of the stock is currently owned by institutional investors and hedge funds.

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. The company serves manufacturing, hospitality, retail, food processing, food service, pharmaceuticals, healthcare, automotive, and cleanroom industries.