Vestis (NYSE:VSTS) Stock Price Expected to Rise, Barclays Analyst Says

Vestis (NYSE:VSTS - Free Report) had its target price boosted by Barclays from $10.00 to $13.00 in a research report released on Friday,Benzinga reports. They currently have an underweight rating on the stock.

Several other brokerages have also recently commented on VSTS. Baird R W cut shares of Vestis from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 8th. 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. Finally, The Goldman Sachs Group lifted their price objective on Vestis from $12.50 to $13.80 and gave the stock a "neutral" rating in a research note on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $17.43.

Vestis Stock Performance

Shares of NYSE VSTS traded up $0.40 during midday trading on Friday, hitting $16.02. The stock had a trading volume of 2,815,854 shares, compared to its average volume of 2,139,790. Vestis has a fifty-two week low of $8.92 and a fifty-two week high of $22.37. The company has a quick ratio of 2.02, a current ratio of 2.37 and a debt-to-equity ratio of 1.67. The company's 50-day simple moving average is $14.58 and its 200 day simple moving average is $13.26.

Vestis Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 13th will be given a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date is Friday, December 13th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of VSTS. AQR Capital Management LLC grew its position in shares of Vestis by 223.0% in the 2nd 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 during the period. Jacobs Levy Equity Management Inc. grew its holdings in Vestis by 111.0% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,631,652 shares of the company's stock worth $39,212,000 after purchasing an additional 1,384,413 shares during the period. TOMS Capital Investment Management LP increased its position in Vestis by 22.7% during the third quarter. TOMS Capital Investment Management LP now owns 2,330,155 shares of the company's stock worth $34,719,000 after buying an additional 430,555 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Vestis by 9.8% in 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 buying an additional 192,525 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Vestis by 0.6% in 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 last quarter. 97.40% of the stock is 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.