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

Shares of Vestis Corporation (NYSE:VSTS) have earned a consensus rating of “Reduce” from the seven brokerages that are covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $9.50.

A number of equities analysts have recently commented on the company. William Blair upgraded Vestis from a “market perform” rating to an “outperform” rating in a research note on Tuesday, May 12th. Robert W. Baird increased their target price on Vestis from $10.00 to $14.00 and gave the company a “neutral” rating in a research note on Wednesday, May 13th. Barclays raised their target price on Vestis from $6.00 to $9.00 and gave the company an “underweight” rating in a report on Friday, May 15th. Stifel Nicolaus lifted their price target on Vestis from $8.50 to $11.00 and gave the stock a “hold” rating in a research report on Wednesday, May 13th. Finally, The Goldman Sachs Group reiterated a “sell” rating and set a $7.50 price target on shares of Vestis in a report on Wednesday, May 13th.

Vestis Price Performance

Shares of Vestis stock opened at $14.33 on Friday. 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 firm has a fifty day simple moving average of $12.49 and a 200-day simple moving average of $9.34. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of -102.37 and a beta of 0.98. Vestis has a 1-year low of $3.98 and a 1-year high of $15.06.

Vestis (NYSE:VSTS) last posted its earnings results on Tuesday, May 12th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.07. The business had revenue of $659.44 million for the quarter, compared to analyst estimates of $655.32 million. Vestis had a negative net margin of 0.63% and a positive return on equity of 5.27%. Vestis’s revenue was down .9% compared to the same quarter last year. During the same period last year, the business posted ($0.05) EPS. On average, sell-side analysts expect that Vestis will post 0.52 earnings per share for the current year.

Institutional Trading of Vestis

A number of hedge funds have recently bought and sold shares of VSTS. EverSource Wealth Advisors LLC raised its position in shares of Vestis by 471.9% during the second 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 last quarter. Osaic Holdings Inc. lifted its stake in shares of Vestis by 703.2% in the second quarter. Osaic Holdings Inc. now owns 5,743 shares of the company’s stock valued at $33,000 after buying an additional 5,028 shares during the period. 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 worth $35,000 after buying an additional 3,082 shares in the last quarter. Farther Finance Advisors LLC increased its stake in Vestis by 176.1% during the fourth quarter. Farther Finance Advisors LLC now owns 5,193 shares of the company’s stock valued at $35,000 after acquiring an additional 3,312 shares during the period. Finally, Eurizon Capital SGR S.p.A. bought a new position in Vestis during the fourth quarter valued at about $36,000. 97.40% of the stock is owned by institutional investors.

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.