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

Vestis Corporation (NYSE:VSTS) has been given an average rating of “Reduce” by the eight analysts that are currently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $9.50.

Several brokerages recently commented on VSTS. Barclays raised their target price on Vestis from $6.00 to $9.00 and gave the stock an “underweight” rating in a research report on Friday, May 15th. Stifel Nicolaus lifted their target price on shares of Vestis from $8.50 to $11.00 and gave the stock a “hold” rating in a report on Wednesday, May 13th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $7.50 target price on shares of Vestis in a research note on Wednesday, May 13th. Robert W. Baird lifted their price objective on Vestis from $10.00 to $14.00 and gave the company a “neutral” rating in a report on Wednesday, May 13th. Finally, Zacks Research upgraded Vestis from a “hold” rating to a “strong-buy” rating in a report on Friday, July 10th.

Vestis Stock Down 1.7%

VSTS traded down $0.25 during trading on Thursday, reaching $14.67. 135,482 shares of the stock traded hands, compared to its average volume of 1,638,255. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of -104.74 and a beta of 0.98. Vestis has a fifty-two week low of $3.98 and a fifty-two week high of $16.90. The stock’s 50-day simple moving average is $13.87 and its two-hundred day simple moving average is $10.21. The company has a debt-to-equity ratio of 1.44, a current ratio of 2.13 and a quick ratio of 1.69.

Vestis (NYSE:VSTS) last posted its earnings results on Tuesday, May 12th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.09 by $0.07. The firm had revenue of $659.44 million for 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 business’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.05) earnings per share. As a group, equities research analysts expect that Vestis will post 0.52 EPS for the current year.

Institutional Investors Weigh In On Vestis

Institutional investors and hedge funds have recently modified their holdings of the company. Militia Capital Management LLC bought a new position in Vestis during the 1st quarter worth $618,000. Allen Capital Group LLC bought a new stake in shares of Vestis in the first quarter valued at approximately $94,000. RBF Capital LLC grew its position in Vestis by 2.0% during the first quarter. RBF Capital LLC now owns 878,251 shares of the company’s stock worth $6,903,000 after buying an additional 17,009 shares in the last quarter. Empowered Funds LLC increased its stake in Vestis by 8.5% during the 1st quarter. Empowered Funds LLC now owns 502,782 shares of the company’s stock worth $3,952,000 after acquiring an additional 39,433 shares during the period. Finally, Quantinno Capital Management LP raised its holdings in Vestis by 2.1% in the 1st quarter. Quantinno Capital Management LP now owns 86,042 shares of the company’s stock valued at $676,000 after acquiring an additional 1,756 shares in the last quarter. 97.40% of the stock is owned by institutional investors.

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.