Vestis Co. (NYSE:VSTS) Given Consensus Rating of "Reduce" by Brokerages

Vestis Co. (NYSE:VSTS - Get Free Report) has earned an average recommendation of "Reduce" from the eight research firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating and seven have issued a hold rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $14.08.

VSTS has been the topic of a number of analyst reports. The Goldman Sachs Group increased their price target on Vestis from $13.60 to $15.00 and gave the company a "neutral" rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. increased their target price on Vestis from $15.00 to $16.00 and gave the company a "neutral" rating in a research note on Friday, November 22nd. Finally, Barclays boosted their target price on Vestis from $10.00 to $13.00 and gave the stock an "underweight" rating in a research report on Friday, November 22nd.

Hedge Funds Weigh In On Vestis

A number of large investors have recently added to or reduced their stakes in VSTS. AQR Capital Management LLC grew its stake in shares of Vestis by 223.0% during the 2nd quarter. AQR Capital Management LLC now owns 3,753,889 shares of the company's stock worth $45,197,000 after acquiring an additional 2,591,593 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in Vestis by 111.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,631,652 shares of the company's stock valued at $39,212,000 after purchasing an additional 1,384,413 shares in the last quarter. TOMS Capital Investment Management LP increased its stake in Vestis by 22.7% in the 3rd quarter. TOMS Capital Investment Management LP now owns 2,330,155 shares of the company's stock valued at $34,719,000 after buying an additional 430,555 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Vestis by 9.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,156,811 shares of the company's stock worth $32,136,000 after buying an additional 192,525 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Vestis by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,541,710 shares of the company's stock worth $18,854,000 after buying an additional 8,997 shares in the last quarter. Institutional investors own 97.40% of the company's stock.

Vestis Trading Down 1.5 %

VSTS traded down $0.24 during mid-day trading on Friday, reaching $16.21. The stock had a trading volume of 803,646 shares, compared to its average volume of 2,376,102. The stock has a market capitalization of $2.13 billion, a P/E ratio of 101.30 and a beta of 1.17. Vestis has a 52 week low of $8.92 and a 52 week high of $22.37. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.36 and a current ratio of 1.73. The firm's fifty day simple moving average is $15.69 and its two-hundred day simple moving average is $14.46.

Vestis (NYSE:VSTS - Get Free Report) last announced its quarterly earnings data on Thursday, November 21st. The company reported $0.11 EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.02). Vestis had a return on equity of 9.07% and a net margin of 0.75%. The firm had revenue of $684.28 million during the quarter, compared to analyst estimates of $693.54 million. The company's revenue for the quarter was down 4.4% compared to the same quarter last year. On average, equities analysts predict that Vestis will post 0.66 EPS for the current year.

Vestis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 13th were given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend was Friday, December 13th. Vestis's dividend payout ratio is 87.51%.

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.