JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Vestis (NYSE:VSTS) Stock

Vestis (NYSE:VSTS - Get Free Report) had its target price raised by equities researchers at JPMorgan Chase & Co. from $15.00 to $16.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s target price would suggest a potential downside of 0.12% from the stock's current price.

VSTS has been the topic of a number of other reports. Robert W. Baird downgraded Vestis from an "outperform" rating to a "neutral" rating and set a $13.00 price target on the stock. in a research note on Thursday, August 8th. Baird R W cut shares of Vestis from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 8th. The Goldman Sachs Group raised their target price on Vestis from $12.50 to $13.80 and gave the stock a "neutral" rating in a report on Tuesday, August 20th. Finally, Barclays raised their price objective on Vestis from $10.00 to $13.00 and gave the stock an "underweight" rating in a research note on Friday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, Vestis currently has a consensus rating of "Hold" and a consensus target price of $17.43.

Vestis Stock Up 2.6 %

Shares of Vestis stock traded up $0.40 on Friday, reaching $16.02. The company's stock had a trading volume of 2,815,854 shares, compared to its average volume of 1,534,713. The company has a market capitalization of $2.11 billion and a price-to-earnings ratio of 100.13. The company has a quick ratio of 2.02, a current ratio of 1.73 and a debt-to-equity ratio of 1.40. Vestis has a 52 week low of $8.92 and a 52 week high of $22.37. The firm's fifty day simple moving average is $14.60 and its two-hundred day simple moving average is $13.30.

Institutional Investors Weigh In On Vestis

Several hedge funds and other institutional investors have recently made changes to their positions in VSTS. AQR Capital Management LLC raised its position in Vestis by 223.0% during the 2nd quarter. AQR Capital Management LLC now owns 3,753,889 shares of the company's stock valued at $45,197,000 after purchasing an additional 2,591,593 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of Vestis by 111.0% in the 3rd 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 lifted its position 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 worth $34,719,000 after purchasing an additional 430,555 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Vestis by 9.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,156,811 shares of the company's stock valued at $32,136,000 after purchasing an additional 192,525 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Vestis by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,541,710 shares of the company's stock valued at $18,854,000 after buying an additional 8,997 shares during the period. 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.