Vestis Corporation (NYSE:VSTS) Given Consensus Recommendation of “Reduce” by Analysts

Shares of Vestis Corporation (NYSE:VSTS) have been given a consensus rating of “Reduce” by the seven brokerages that are presently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $9.50.

Several analysts have recently commented on the company. Stifel Nicolaus raised their target price on Vestis from $8.50 to $11.00 and gave the company a “hold” rating in a research note on Wednesday, May 13th. Weiss Ratings downgraded Vestis from a “sell (d)” rating to a “sell (d-)” rating in a research note on Wednesday, May 13th. William Blair upgraded Vestis from a “market perform” rating to an “outperform” rating in a research note on Tuesday, May 12th. Robert W. Baird raised their target price on Vestis from $10.00 to $14.00 and gave the company a “neutral” rating in a research note on Wednesday, May 13th. Finally, The Goldman Sachs Group restated a “sell” rating and issued a $7.50 target price on shares of Vestis in a research note on Wednesday, May 13th.

Vestis Stock Performance

Shares of VSTS stock opened at $12.92 on Wednesday. The company has a market cap of $1.71 billion, a price-to-earnings ratio of -92.25 and a beta of 1.08. Vestis has a 52 week low of $3.98 and a 52 week high of $13.52. The company has a quick ratio of 1.69, a current ratio of 2.13 and a debt-to-equity ratio of 1.44. The firm has a 50 day moving average of $10.39 and a 200-day moving average of $8.26.

Vestis (NYSE:VSTS) last announced its quarterly earnings data on Tuesday, May 12th. The company reported $0.16 EPS for the quarter, topping the consensus estimate 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 0.63% and a positive return on equity of 5.27%. The company’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.05) EPS. On average, equities analysts forecast that Vestis will post 0.52 earnings per share for the current year.

Institutional Trading of Vestis

Large investors have recently made changes to their positions in the company. Private Management Group Inc. grew its stake in shares of Vestis by 6.1% in the 3rd quarter. Private Management Group Inc. now owns 2,589,626 shares of the company’s stock valued at $11,731,000 after buying an additional 149,908 shares during the period. SG Americas Securities LLC grew its stake in shares of Vestis by 1,506.6% in the 4th quarter. SG Americas Securities LLC now owns 295,000 shares of the company’s stock valued at $1,968,000 after buying an additional 276,638 shares during the period. Allianz Asset Management GmbH boosted its stake in Vestis by 22.6% during the 3rd quarter. Allianz Asset Management GmbH now owns 700,798 shares of the company’s stock valued at $3,175,000 after purchasing an additional 129,415 shares during the last quarter. Medina Value Partners LLC acquired a new position in Vestis during the 3rd quarter valued at about $6,469,000. Finally, Pacific Point Advisors LLC boosted its stake in Vestis by 603.8% during the 4th quarter. Pacific Point Advisors LLC now owns 214,686 shares of the company’s stock valued at $1,432,000 after purchasing an additional 184,181 shares during the last quarter. 97.40% of the stock is currently owned by institutional investors and hedge funds.

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