The Goldman Sachs Group Forecasts Strong Price Appreciation for Vestis (NYSE:VSTS) Stock

Vestis (NYSE:VSTS) had its price target boosted by The Goldman Sachs Group from $13.60 to $15.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective suggests a potential downside of 2.02% from the stock’s current price.

A number of other equities analysts have also weighed in on the company. Barclays boosted their price objective on Vestis from $10.00 to $13.00 and gave the company an “underweight” rating in a report on Friday. Baird R W downgraded Vestis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 8th. Robert W. Baird lowered shares of Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 price target for the company. in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Vestis from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $17.43.

Vestis Price Performance

VSTS traded down $0.31 during trading on Friday, hitting $15.31. The stock had a trading volume of 98,229 shares, compared to its average volume of 2,127,818. Vestis has a twelve month low of $8.92 and a twelve month high of $22.37. The stock has a 50 day simple moving average of $14.58 and a two-hundred day simple moving average of $13.26. The company has a debt-to-equity ratio of 1.67, a current ratio of 2.37 and a quick ratio of 2.02.

Hedge Funds Weigh In On Vestis

Several hedge funds have recently bought and sold shares of the company. LMR Partners LLP increased its holdings in Vestis by 726.8% during the 3rd quarter. LMR Partners LLP now owns 160,528 shares of the company’s stock worth $2,392,000 after purchasing an additional 141,113 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in Vestis in the first quarter valued at $1,069,000. Private Management Group Inc. lifted its holdings in Vestis by 9.2% during the 2nd quarter. Private Management Group Inc. now owns 692,394 shares of the company’s stock worth $8,468,000 after buying an additional 58,538 shares during the last quarter. Royce & Associates LP lifted its stake in Vestis by 10.7% during the third quarter. Royce & Associates LP now owns 689,389 shares of the company’s stock worth $10,272,000 after purchasing an additional 66,621 shares during the last quarter. Finally, Comerica Bank boosted its holdings in Vestis by 39.8% in the first quarter. Comerica Bank now owns 168,552 shares of the company’s stock valued at $3,248,000 after purchasing an additional 47,996 shares in the last quarter. Institutional investors and hedge funds 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.