Vestis Co. (NYSE:VSTS) Receives $13.68 Consensus Target Price from Analysts

Vestis Co. (NYSE:VSTS - Get Free Report) has earned a consensus recommendation of "Reduce" from the eight analysts that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $13.68.

VSTS has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their price target on Vestis from $15.00 to $16.00 and gave the stock a "neutral" rating in a research report on Friday, November 22nd. Robert W. Baird cut their price target on Vestis from $17.00 to $13.00 and set a "neutral" rating on the stock in a research note on Thursday. Barclays lifted 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. Finally, The Goldman Sachs Group lowered their price target on Vestis from $15.00 to $13.00 and set a "neutral" rating on the stock in a report on Monday.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Pacer Advisors Inc. acquired a new position in shares of Vestis during the 4th quarter worth approximately $210,766,000. AQR Capital Management LLC grew its stake in shares of Vestis by 47.4% during the 4th quarter. AQR Capital Management LLC now owns 3,125,669 shares of the company's stock valued at $47,635,000 after buying an additional 1,004,497 shares during the period. Dimensional Fund Advisors LP boosted its position in Vestis by 46.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,095,278 shares of the company's stock worth $47,172,000 after purchasing an additional 980,303 shares during the period. Millennium Management LLC boosted its position in Vestis by 179.4% during the 4th quarter. Millennium Management LLC now owns 3,003,762 shares of the company's stock worth $45,777,000 after purchasing an additional 1,928,687 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its position in Vestis by 2.3% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,691,476 shares of the company's stock worth $41,018,000 after purchasing an additional 59,824 shares during the period. 97.40% of the stock is currently owned by institutional investors and hedge funds.

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Vestis Price Performance

Shares of NYSE:VSTS traded down $0.20 during midday trading on Monday, hitting $9.95. The company had a trading volume of 1,360,599 shares, compared to its average volume of 2,101,678. Vestis has a twelve month low of $8.92 and a twelve month high of $19.76. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.80 and a quick ratio of 1.43. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of 124.20 and a beta of 1.40. The business's 50-day simple moving average is $13.52 and its 200-day simple moving average is $14.56.

Vestis (NYSE:VSTS - Get Free Report) last issued its quarterly earnings data 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 last year, the business earned $0.22 earnings per share. On average, research analysts predict that Vestis will post 0.7 earnings per share for the current year.

Vestis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Friday, February 21st were paid a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 1.41%. The ex-dividend date was Friday, February 21st. Vestis's dividend payout ratio (DPR) 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.