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

Vestis Co. (NYSE:VSTS - Get Free Report) has received a consensus rating of "Reduce" from the eight ratings firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $13.08.

Several research analysts have recently commented on the company. The Goldman Sachs Group lowered their price target on Vestis from $15.00 to $13.00 and set a "neutral" rating for the company in a research report on Monday, March 17th. Barclays lowered their target price on Vestis from $13.00 to $10.00 and set an "underweight" rating for the company in a report on Friday, April 4th. Finally, Robert W. Baird cut their price target on shares of Vestis from $17.00 to $13.00 and set a "neutral" rating on the stock in a research note on Thursday, March 20th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in VSTS. Pacer Advisors Inc. acquired a new stake in shares of Vestis in the 4th quarter valued at $210,766,000. Millennium Management LLC raised its stake in Vestis by 179.4% in the fourth quarter. Millennium Management LLC now owns 3,003,762 shares of the company's stock valued at $45,777,000 after buying an additional 1,928,687 shares in the last quarter. Alyeska Investment Group L.P. purchased a new stake in Vestis during the 4th quarter worth about $25,805,000. First Trust Advisors LP acquired a new position in shares of Vestis during the 4th quarter worth about $22,936,000. Finally, Birnam Oak Advisors LP acquired a new position in shares of Vestis during the 4th quarter worth about $21,446,000. Hedge funds and other institutional investors own 97.40% of the company's stock.

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Vestis Price Performance

Shares of VSTS stock traded down $0.16 during trading hours on Friday, reaching $7.82. The company had a trading volume of 793,645 shares, compared to its average volume of 2,291,314. Vestis has a 12-month low of $7.37 and a 12-month high of $19.34. 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 company has a market capitalization of $1.03 billion, a price-to-earnings ratio of 97.76 and a beta of 1.55. The stock has a fifty day moving average of $11.01 and a 200-day moving average of $13.77.

Vestis (NYSE:VSTS - Get Free Report) last posted its earnings results on Friday, January 31st. The company reported $0.14 earnings per share for the quarter, beating 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 period last year, the business posted $0.22 EPS. On average, equities analysts anticipate that Vestis will post 0.7 earnings per share for the current year.

Vestis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Friday, February 21st were paid a dividend of $0.035 per share. The ex-dividend date was Friday, February 21st. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.79%. Vestis's payout ratio is 175.00%.

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.