Vestis (NYSE:VSTS) Price Target Cut to $13.00 by Analysts at Robert W. Baird

Vestis (NYSE:VSTS - Get Free Report) had its price objective cut by equities researchers at Robert W. Baird from $17.00 to $13.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Robert W. Baird's target price would indicate a potential upside of 26.15% from the company's previous close.

A number of other equities analysts have also recently issued reports on VSTS. The Goldman Sachs Group cut their target price on shares of Vestis from $15.00 to $13.00 and set a "neutral" rating on the stock in a report on Monday, March 17th. Barclays increased their price objective on shares of Vestis from $10.00 to $13.00 and gave the stock an "underweight" rating in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. boosted their price objective on Vestis from $15.00 to $16.00 and gave the stock a "neutral" rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $13.68.

Vestis Stock Up 3.1 %

VSTS stock traded up $0.31 during mid-day trading on Thursday, hitting $10.31. 3,107,818 shares of the company were exchanged, compared to its average volume of 2,171,014. The firm has a fifty day simple moving average of $13.28 and a 200 day simple moving average of $14.50. The company has a market capitalization of $1.36 billion, a PE ratio of 128.83 and a beta of 1.40. Vestis has a twelve month low of $8.92 and a twelve month high of $19.76. The company has a current ratio of 1.80, a quick ratio of 1.43 and a debt-to-equity ratio of 1.39.

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Vestis (NYSE:VSTS - Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.12 by $0.02. Vestis had a net margin of 0.34% and a return on equity of 7.91%. During the same quarter in the previous year, the business earned $0.22 EPS. On average, research analysts forecast that Vestis will post 0.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vestis

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VSTS. Wealth Enhancement Advisory Services LLC boosted its stake in Vestis by 66.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 73,271 shares of the company's stock valued at $1,117,000 after purchasing an additional 29,319 shares in the last quarter. QSM Asset Management Ltd acquired a new stake in shares of Vestis in the fourth quarter valued at $6,560,000. Pullen Investment Management LLC bought a new position in Vestis during the fourth quarter valued at about $918,000. Mackenzie Financial Corp acquired a new position in Vestis during the fourth quarter worth about $300,000. Finally, Toronto Dominion Bank bought a new stake in Vestis in the fourth quarter worth about $154,000. Institutional investors own 97.40% of the company's stock.

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.