Vestis (NYSE:VSTS) Given New $10.00 Price Target at Barclays

Vestis (NYSE:VSTS) had its price objective lowered by equities researchers at Barclays from $13.00 to $10.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “underweight” rating on the stock. Barclays‘s target price suggests a potential upside of 20.19% from the company’s current price.

Other equities analysts also recently issued research reports about the company. The Goldman Sachs Group decreased their target price on Vestis from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. Robert W. Baird dropped their price target on shares of Vestis from $17.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, March 20th. One analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat, Vestis has an average rating of “Hold” and an average price target of $13.08.

Vestis Trading Down 8.0 %

VSTS traded down $0.72 on Friday, reaching $8.32. 348,289 shares of the company traded hands, compared to its average volume of 1,965,611. Vestis has a one year low of $8.22 and a one year high of $19.76. The company has a quick ratio of 1.43, a current ratio of 1.80 and a debt-to-equity ratio of 1.39. The firm has a fifty day simple moving average of $12.27 and a two-hundred day simple moving average of $14.24. The company has a market cap of $1.10 billion, a P/E ratio of 103.98 and a beta of 1.40.

Vestis (NYSE:VSTS) last announced its earnings results on Friday, January 31st. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. Vestis had a return on equity of 7.91% and a net margin of 0.34%. During the same quarter in the prior year, the business posted $0.22 EPS. As a group, equities research analysts expect that Vestis will post 0.7 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Captrust Financial Advisors acquired a new position in Vestis in the third quarter worth approximately $201,000. Verition Fund Management LLC lifted its position in Vestis by 70.4% in the third quarter. Verition Fund Management LLC now owns 119,378 shares of the company’s stock worth $1,779,000 after purchasing an additional 49,302 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Vestis during the 3rd quarter valued at about $51,000. HighTower Advisors LLC grew its stake in shares of Vestis by 223.0% in the 3rd quarter. HighTower Advisors LLC now owns 361,348 shares of the company’s stock valued at $5,386,000 after purchasing an additional 249,479 shares during the period. Finally, Point72 Asset Management L.P. increased its position in shares of Vestis by 19.6% during the 3rd quarter. Point72 Asset Management L.P. now owns 255,029 shares of the company’s stock worth $3,800,000 after purchasing an additional 41,833 shares in the last quarter. Institutional investors own 97.40% of the company’s stock.

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.