Barclays Cuts Vestis (NYSE:VSTS) Price Target to $10.00

Vestis (NYSE:VSTS - Get Free Report) had its price target cut by research analysts at Barclays from $13.00 to $10.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an "underweight" rating on the stock. Barclays's price target suggests a potential upside of 20.70% from the stock's current price.

Other equities analysts also recently issued research reports about the company. Robert W. Baird reduced their price objective on Vestis from $17.00 to $13.00 and set a "neutral" rating on the stock in a research report on Thursday, March 20th. The Goldman Sachs Group reduced their price target on Vestis from $15.00 to $13.00 and set a "neutral" rating on the stock in a report on Monday, March 17th. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company's stock. According to MarketBeat.com, Vestis currently has an average rating of "Hold" and a consensus target price of $13.08.

Vestis Price Performance

VSTS stock traded up $0.75 during midday trading on Friday, reaching $8.29. The stock had a trading volume of 982,952 shares, compared to its average volume of 2,286,389. Vestis has a 52-week low of $7.37 and a 52-week high of $19.76. The company has a current ratio of 1.80, a quick ratio of 1.43 and a debt-to-equity ratio of 1.39. The company's fifty day simple moving average is $11.61 and its 200 day simple moving average is $14.02. The company has a market cap of $1.09 billion, a price-to-earnings ratio of 102.78 and a beta of 1.55.

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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 analysts' consensus estimates 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 quarter last year, the firm earned $0.22 EPS. As a group, sell-side analysts predict that Vestis will post 0.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vestis

A number of institutional investors have recently made changes to their positions in the stock. Pacer Advisors Inc. purchased a new position in shares of Vestis during the 4th quarter worth approximately $210,766,000. Millennium Management LLC grew its stake in shares of 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 shares of Vestis in the 4th quarter valued at $25,805,000. First Trust Advisors LP acquired a new position in Vestis during the 4th quarter worth about $22,936,000. Finally, Birnam Oak Advisors LP acquired a new position in Vestis in the 4th quarter valued at about $21,446,000. 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.