Barclays Increases Vestis (NYSE:VSTS) Price Target to $13.00

Vestis (NYSE:VSTS) had its target price hoisted by Barclays from $10.00 to $13.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has an underweight rating on the stock.

Several other research firms have also recently weighed in on VSTS. Robert W. Baird cut shares of Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 price target on the stock. in a report on Thursday, August 8th. The Goldman Sachs Group raised their target price on shares of Vestis from $12.50 to $13.80 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Finally, Baird R W cut shares of Vestis from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $17.43.

Vestis Stock Up 2.6 %

Vestis stock opened at $16.02 on Friday. The stock has a market cap of $2.11 billion and a P/E 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 twelve month low of $8.92 and a twelve month high of $22.37. The company’s 50-day moving average price is $14.58 and its two-hundred day moving average price is $13.26.

Vestis Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 13th will be given a dividend of $0.035 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.14 annualized dividend and a dividend yield of 0.87%. Vestis’s dividend payout ratio is 87.51%.

Institutional Trading of Vestis

A number of hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC boosted its position in Vestis by 223.0% in the second quarter. AQR Capital Management LLC now owns 3,753,889 shares of the company’s stock valued at $45,197,000 after buying an additional 2,591,593 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in Vestis by 111.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,631,652 shares of the company’s stock valued at $39,212,000 after buying an additional 1,384,413 shares in the last quarter. TOMS Capital Investment Management LP boosted its position in Vestis by 22.7% in the third quarter. TOMS Capital Investment Management LP now owns 2,330,155 shares of the company’s stock valued at $34,719,000 after buying an additional 430,555 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position 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 in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in 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 in the last quarter. Institutional investors and hedge funds own 97.40% of the company’s stock.

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.