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

Shares of Vestis Corporation (NYSE:VSTS) have earned a consensus recommendation of “Reduce” from the eight research firms that are presently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $12.66.

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. raised their price target on Vestis from $11.00 to $13.00 and gave the company an “underweight” rating in a report on Thursday, August 13th. William Blair raised Vestis from a “market perform” rating to an “outperform” rating in a report on Tuesday, May 12th. Zacks Research downgraded shares of Vestis from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 10th. Barclays increased their price objective on shares of Vestis from $9.00 to $11.00 and gave the stock an “underweight” rating in a report on Wednesday, August 12th. Finally, Robert W. Baird boosted their target price on shares of Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 12th.

Vestis Price Performance

NYSE:VSTS opened at $12.51 on Monday. The company has a quick ratio of 1.75, a current ratio of 2.17 and a debt-to-equity ratio of 1.38. The firm has a market cap of $1.65 billion, a PE ratio of -250.15 and a beta of 0.97. Vestis has a 12 month low of $3.98 and a 12 month high of $16.90. The company’s 50-day moving average price is $14.23 and its two-hundred day moving average price is $11.26.

Vestis (NYSE:VSTS) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.08. Vestis had a negative net margin of 0.20% and a positive return on equity of 7.27%. The company had revenue of $661.66 million during the quarter, compared to analyst estimates of $668.94 million. On average, equities analysts anticipate that Vestis will post 0.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Vestis in the 2nd quarter valued at $453,000. California State Teachers Retirement System raised its position in shares of Vestis by 1,668.1% during the second quarter. California State Teachers Retirement System now owns 1,630,741 shares of the company’s stock worth $23,678,000 after acquiring an additional 1,538,509 shares during the last quarter. HB Wealth Management LLC raised its position in shares of Vestis by 16.2% during the second quarter. HB Wealth Management LLC now owns 15,270 shares of the company’s stock worth $222,000 after acquiring an additional 2,132 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Vestis during the second quarter valued at $145,000. Finally, Philadelphia Investment Partners LLC acquired a new position in shares of Vestis during the second quarter valued at $47,000. Institutional investors 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. The company serves manufacturing, hospitality, retail, food processing, food service, pharmaceuticals, healthcare, automotive, and cleanroom industries.