The Goldman Sachs Group Lowers Vestis (NYSE:VSTS) Price Target to $13.00

Vestis (NYSE:VSTS - Get Free Report) had its price target cut by investment analysts at The Goldman Sachs Group from $15.00 to $13.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. The Goldman Sachs Group's price target points to a potential upside of 30.13% from the company's current price.

A number of other equities research analysts have also issued reports on VSTS. Barclays raised their price target on Vestis from $10.00 to $13.00 and gave the stock an "underweight" rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. upped their target price on Vestis from $15.00 to $16.00 and gave the company a "neutral" rating in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the company's stock. Based on data from MarketBeat.com, Vestis currently has an average rating of "Hold" and a consensus target price of $13.68.

Vestis Trading Down 1.6 %

VSTS traded down $0.16 on Monday, hitting $9.99. 16,973,961 shares of the company were exchanged, compared to its average volume of 2,163,310. The stock has a market capitalization of $1.32 billion, a PE ratio of 124.89 and a beta of 1.40. Vestis has a 12 month low of $8.92 and a 12 month high of $19.76. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.43 and a current ratio of 1.80. The firm has a fifty day simple moving average of $13.52 and a two-hundred day simple moving average of $14.56.

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

Institutional Investors Weigh In On Vestis

A number of hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC increased its stake in Vestis by 17.9% in the 4th quarter. GAMMA Investing LLC now owns 4,670 shares of the company's stock valued at $71,000 after buying an additional 710 shares during the period. Gamco Investors INC. ET AL grew its position in shares of Vestis by 2.0% in the fourth quarter. Gamco Investors INC. ET AL now owns 45,350 shares of the company's stock valued at $691,000 after purchasing an additional 875 shares during the period. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Vestis by 104.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,000 shares of the company's stock valued at $30,000 after purchasing an additional 1,020 shares during the last quarter. Bank of Montreal Can increased its position in Vestis by 11.1% during the 4th quarter. Bank of Montreal Can now owns 15,315 shares of the company's stock worth $233,000 after purchasing an additional 1,534 shares in the last quarter. Finally, KBC Group NV increased its holdings in Vestis by 51.9% in the 3rd quarter. KBC Group NV now owns 4,741 shares of the company's stock valued at $71,000 after purchasing an additional 1,619 shares in the last quarter. 97.40% of the stock is currently owned by institutional investors and hedge funds.

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.