Vestis (NYSE:VSTS) Reaches New 12-Month High – Should You Buy?

Vestis Corporation (NYSE:VSTS) shares reached a new 52-week high on Tuesday . The company traded as high as $14.85 and last traded at $14.8150, with a volume of 1889360 shares trading hands. The stock had previously closed at $14.42.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Stifel Nicolaus increased their price target on Vestis from $8.50 to $11.00 and gave the stock a “hold” rating in a research note on Wednesday, May 13th. Barclays boosted their price objective on Vestis from $6.00 to $9.00 and gave the company an “underweight” rating in a research report on Friday, May 15th. Weiss Ratings lowered Vestis from a “sell (d)” rating to a “sell (d-)” rating in a research note on Wednesday, May 13th. William Blair upgraded Vestis from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 12th. Finally, The Goldman Sachs Group reissued a “sell” rating and set a $7.50 target price on shares of Vestis in a research note on Wednesday, May 13th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $9.50.

Vestis Trading Up 2.7%

The company has a current ratio of 2.13, a quick ratio of 1.69 and a debt-to-equity ratio of 1.44. The stock has a 50 day simple moving average of $11.79 and a 200-day simple moving average of $8.94. The firm has a market cap of $1.96 billion, a P/E ratio of -105.81 and a beta of 1.07.

Vestis (NYSE:VSTS) last posted its earnings results on Tuesday, May 12th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.07. Vestis had a positive return on equity of 5.27% and a negative net margin of 0.63%.The firm had revenue of $659.44 million during the quarter, compared to the consensus estimate of $655.32 million. During the same period in the prior year, the company earned ($0.05) EPS. The company’s quarterly revenue was down .9% compared to the same quarter last year. On average, equities research analysts expect that Vestis Corporation will post 0.52 EPS for the current fiscal year.

Institutional Trading of Vestis

Several hedge funds have recently made changes to their positions in the business. Private Management Group Inc. increased its position in shares of Vestis by 6.1% during the 3rd quarter. Private Management Group Inc. now owns 2,589,626 shares of the company’s stock valued at $11,731,000 after purchasing an additional 149,908 shares during the last quarter. SG Americas Securities LLC lifted its position in Vestis by 1,506.6% in the fourth quarter. SG Americas Securities LLC now owns 295,000 shares of the company’s stock worth $1,968,000 after buying an additional 276,638 shares during the last quarter. Medina Value Partners LLC bought a new stake in Vestis in the third quarter worth $6,469,000. Pacific Point Advisors LLC boosted its stake in Vestis by 603.8% during the fourth quarter. Pacific Point Advisors LLC now owns 214,686 shares of the company’s stock worth $1,432,000 after buying an additional 184,181 shares during the period. Finally, Invenomic Capital Management LP boosted its stake in Vestis by 158.3% during the third quarter. Invenomic Capital Management LP now owns 1,282,039 shares of the company’s stock worth $5,808,000 after buying an additional 785,667 shares during the period. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

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