Vestis Co. (NYSE:VSTS) Receives $15.73 Consensus PT from Analysts

Shares of Vestis Co. (NYSE:VSTS - Get Free Report) have been assigned a consensus recommendation of "Hold" from the nine brokerages that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $15.73.

A number of equities analysts have weighed in on the company. The Goldman Sachs Group boosted their price objective on Vestis from $13.60 to $15.00 and gave the stock a "neutral" rating in a research note on Friday, November 22nd. Barclays raised their price objective on shares of Vestis from $10.00 to $13.00 and gave the stock an "underweight" rating in a research report on Friday, November 22nd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Vestis from $15.00 to $16.00 and gave the company a "neutral" rating in a report on Friday, November 22nd.

Vestis Stock Performance

VSTS stock remained flat at $15.84 during midday trading on Wednesday. The company's stock had a trading volume of 582,320 shares, compared to its average volume of 2,196,123. Vestis has a 12 month low of $8.92 and a 12 month high of $22.37. The company has a current ratio of 1.73, a quick ratio of 1.36 and a debt-to-equity ratio of 1.40. The firm has a 50-day moving average price of $15.10 and a two-hundred day moving average price of $13.96. The stock has a market cap of $2.09 billion, a P/E ratio of 99.01 and a beta of 1.15.

Vestis (NYSE:VSTS - Get Free Report) last posted its quarterly earnings results on Thursday, November 21st. The company reported $0.11 earnings per share 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 business had revenue of $684.28 million for the quarter, compared to analyst estimates of $693.54 million. The business's revenue was down 4.4% compared to the same quarter last year. Sell-side analysts predict that Vestis will post 0.66 EPS for the current year.

Vestis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 13th will be given a dividend of $0.035 per share. The ex-dividend date is Friday, December 13th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.88%. Vestis's payout ratio is currently 87.50%.

Institutional Investors Weigh In On Vestis

Several institutional investors and hedge funds have recently modified their holdings of the company. AQR Capital Management LLC raised its stake in shares of Vestis by 223.0% in the second quarter. AQR Capital Management LLC now owns 3,753,889 shares of the company's stock valued at $45,197,000 after acquiring an additional 2,591,593 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings 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 acquiring an additional 1,384,413 shares in the last quarter. Forest Avenue Capital Management LP acquired a new position in Vestis during the 3rd quarter worth approximately $19,486,000. Granite Investment Partners LLC purchased a new stake in shares of Vestis in the 2nd quarter valued at approximately $13,752,000. Finally, TOMS Capital Investment Management LP raised its holdings in shares of 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 purchasing an additional 430,555 shares in the last quarter. Hedge funds and other 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.