Vestis Co. (NYSE:VSTS) Receives $16.38 Consensus Target Price from Analysts

Shares of Vestis Co. (NYSE:VSTS) have earned a consensus recommendation of “Hold” from the ten research firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $16.38.

VSTS has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lowered Vestis from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $22.00 to $11.00 in a research note on Friday, May 3rd. Redburn Atlantic downgraded Vestis from a “buy” rating to a “neutral” rating and set a $13.40 price target on the stock. in a report on Tuesday, May 7th. Stifel Nicolaus reiterated a “hold” rating on shares of Vestis in a report on Friday, May 3rd. William Blair began coverage on Vestis in a report on Friday, May 31st. They issued a “market perform” rating on the stock. Finally, Barclays dropped their target price on Vestis from $19.00 to $10.00 and set an “underweight” rating on the stock in a research note on Friday, May 3rd.

Insider Buying and Selling at Vestis

In related news, Director Williams Ena Koschel acquired 8,500 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was acquired at an average price of $12.27 per share, with a total value of $104,295.00. Following the acquisition, the director now directly owns 29,266 shares in the company, valued at approximately $359,093.82. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Ricky T. Dillon bought 16,200 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were acquired at an average price of $12.43 per share, for a total transaction of $201,366.00. Following the completion of the transaction, the chief financial officer now directly owns 58,837 shares in the company, valued at approximately $731,343.91. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Williams Ena Koschel bought 8,500 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was purchased at an average price of $12.27 per share, for a total transaction of $104,295.00. Following the transaction, the director now owns 29,266 shares of the company’s stock, valued at $359,093.82. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 2,810,579 shares of company stock worth $28,301,263.

Hedge Funds Weigh In On Vestis

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. acquired a new stake in shares of Vestis in the fourth quarter valued at approximately $302,586,000. Capital International Investors acquired a new stake in shares of Vestis in the fourth quarter valued at approximately $125,586,000. Channing Capital Management LLC acquired a new stake in shares of Vestis in the fourth quarter valued at approximately $72,529,000. Wellington Management Group LLP acquired a new stake in shares of Vestis in the fourth quarter valued at approximately $56,431,000. Finally, Victory Capital Management Inc. acquired a new stake in shares of Vestis in the fourth quarter valued at approximately $48,292,000. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Vestis Trading Down 3.5 %

NYSE VSTS opened at $12.57 on Friday. The business has a 50 day simple moving average of $12.15 and a two-hundred day simple moving average of $15.94. The company has a debt-to-equity ratio of 1.69, a quick ratio of 2.16 and a current ratio of 2.51. Vestis has a 1-year low of $8.92 and a 1-year high of $22.37.

Vestis (NYSE:VSTS) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.09). The business had revenue of $705.37 million during the quarter, compared to analyst estimates of $722.54 million. Vestis’s revenue was up .9% on a year-over-year basis. On average, sell-side analysts anticipate that Vestis will post 0.59 earnings per share for the current fiscal year.

Vestis Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 2nd. Shareholders of record on Friday, June 14th were paid a dividend of $0.035 per share. The ex-dividend date was Friday, June 14th. This represents a $0.14 annualized dividend and a yield of 1.11%.

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.