Vestis Corporation (NYSE:VSTS) Given Average Rating of “Strong Sell” by Brokerages

Vestis Corporation (NYSE:VSTS) has been assigned a consensus recommendation of “Strong Sell” from the five ratings firms that are currently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a sell rating and one has issued a hold rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $5.8750.

A number of research firms have recently issued reports on VSTS. Robert W. Baird increased their target price on Vestis from $5.00 to $6.50 and gave the company a “neutral” rating in a report on Tuesday, December 2nd. The Goldman Sachs Group lifted their price target on Vestis from $5.30 to $6.00 and gave the company a “sell” rating in a report on Wednesday, February 11th. Weiss Ratings reissued a “sell (d)” rating on shares of Vestis in a research report on Wednesday, January 21st. Barclays reissued an “underweight” rating on shares of Vestis in a research note on Tuesday, February 17th. Finally, JPMorgan Chase & Co. raised their price objective on Vestis from $5.50 to $6.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 3rd.

Institutional Trading of Vestis

Several institutional investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC grew its position in Vestis by 147.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,175 shares of the company’s stock valued at $35,000 after purchasing an additional 3,082 shares in the last quarter. Farther Finance Advisors LLC lifted its position in Vestis by 176.1% in the 4th quarter. Farther Finance Advisors LLC now owns 5,193 shares of the company’s stock worth $35,000 after buying an additional 3,312 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Vestis during the 4th quarter valued at $36,000. EverSource Wealth Advisors LLC boosted its stake in shares of Vestis by 471.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,456 shares of the company’s stock valued at $31,000 after buying an additional 4,502 shares during the period. Finally, Osaic Holdings Inc. grew its holdings in shares of Vestis by 703.2% during the 2nd quarter. Osaic Holdings Inc. now owns 5,743 shares of the company’s stock valued at $33,000 after acquiring an additional 5,028 shares in the last quarter. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Vestis Stock Up 0.3%

VSTS stock opened at $7.85 on Friday. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.17 and a quick ratio of 1.74. The firm has a market capitalization of $1.04 billion, a P/E ratio of -21.20 and a beta of 0.48. Vestis has a 52-week low of $3.98 and a 52-week high of $10.05. The company’s 50 day simple moving average is $7.48 and its 200-day simple moving average is $6.37.

Vestis (NYSE:VSTS) last posted its quarterly earnings data on Tuesday, February 10th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.04. Vestis had a negative net margin of 1.75% and a positive return on equity of 2.08%. The firm had revenue of $663.39 million during the quarter, compared to analyst estimates of $665.77 million. During the same quarter last year, the business posted $0.14 EPS. The company’s revenue was down 3.0% on a year-over-year basis. As a group, equities research analysts anticipate that Vestis will post 0.7 EPS for the current year.

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. The company serves manufacturing, hospitality, retail, food processing, food service, pharmaceuticals, healthcare, automotive, and cleanroom industries.