Vestis Co. (NYSE:VSTS) Receives Consensus Recommendation of "Hold" from Analysts

Vestis Co. (NYSE:VSTS - Get Free Report) has received an average rating of "Hold" from the eleven ratings firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $16.69.

Several brokerages have weighed in on VSTS. The Goldman Sachs Group increased their price target on shares of Vestis from $12.50 to $13.80 and gave the company a "neutral" rating in a research report on Tuesday, August 20th. Robert W. Baird cut shares of Vestis from an "outperform" rating to a "neutral" rating and set a $13.00 price target on the stock. in a report on Thursday, August 8th. Finally, Baird R W downgraded shares of Vestis from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 8th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of VSTS. Louisiana State Employees Retirement System boosted its holdings in shares of Vestis by 1.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 66,100 shares of the company's stock valued at $808,000 after buying an additional 1,000 shares in the last quarter. Crossmark Global Holdings Inc. lifted its holdings in shares of Vestis by 9.6% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 21,747 shares of the company's stock valued at $266,000 after buying an additional 1,900 shares during the period. Everence Capital Management Inc. grew its stake in shares of Vestis by 17.5% during the 3rd quarter. Everence Capital Management Inc. now owns 14,210 shares of the company's stock worth $212,000 after purchasing an additional 2,120 shares during the period. Texas Permanent School Fund Corp grew its position in Vestis by 1.9% during the first quarter. Texas Permanent School Fund Corp now owns 115,037 shares of the company's stock worth $2,217,000 after buying an additional 2,124 shares during the period. Finally, GAMMA Investing LLC increased its stake in Vestis by 143.5% in the 3rd quarter. GAMMA Investing LLC now owns 3,960 shares of the company's stock valued at $59,000 after purchasing an additional 2,334 shares in the last quarter. Hedge funds and other institutional investors own 97.40% of the company's stock.

Vestis Trading Up 1.9 %

VSTS traded up $0.25 during midday trading on Tuesday, reaching $13.50. 900,434 shares of the company were exchanged, compared to its average volume of 2,155,021. The company's fifty day moving average price is $14.64 and its 200 day moving average price is $13.45. Vestis has a one year low of $8.92 and a one year high of $22.37. The company has a debt-to-equity ratio of 1.67, a quick ratio of 2.02 and a current ratio of 2.37.

Vestis (NYSE:VSTS - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.10 by $0.06. Vestis had a net margin of 4.13% and a return on equity of 18.00%. The company had revenue of $698.20 million for the quarter, compared to the consensus estimate of $688.33 million. The firm's revenue for the quarter was down 1.6% compared to the same quarter last year. Equities research analysts forecast that Vestis will post 0.64 EPS for the current year.

Vestis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Friday, September 13th were given a $0.035 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.04%.

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.