Vestis Co. (NYSE:VSTS) Given Consensus Recommendation of “Hold” by Analysts

Vestis Co. (NYSE:VSTS) has received an average rating of “Hold” from the eleven ratings firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $16.69.

Several research analysts recently commented on VSTS shares. Robert W. Baird lowered 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. William Blair started coverage on shares of Vestis in a research note on Friday, May 31st. They issued a “market perform” rating on the stock. The Goldman Sachs Group lifted their target price on shares of Vestis from $12.50 to $13.80 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Finally, Baird R W downgraded Vestis from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 8th.

Vestis Stock Up 0.7 %

Shares of NYSE VSTS opened at $15.71 on Monday. The company has a debt-to-equity ratio of 1.67, a current ratio of 2.37 and a quick ratio of 2.02. The firm has a fifty day moving average of $13.51 and a 200-day moving average of $14.42. Vestis has a 52-week low of $8.92 and a 52-week high of $22.37.

Vestis (NYSE:VSTS) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.06. The firm had revenue of $698.20 million during the quarter, compared to the consensus estimate of $688.33 million. Vestis had a return on equity of 18.00% and a net margin of 4.13%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, sell-side analysts predict that Vestis will post 0.64 EPS for the current year.

Vestis Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Friday, September 13th will be given a $0.035 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.14 dividend on an annualized basis and a yield of 0.89%.

Institutional Investors Weigh In On Vestis

A number of hedge funds have recently bought and sold shares of VSTS. TFO Wealth Partners LLC acquired a new position in Vestis during the 4th quarter worth $42,000. Wahed Invest LLC bought a new stake in Vestis in the fourth quarter valued at about $42,000. Canada Pension Plan Investment Board bought a new stake in Vestis in the second quarter valued at about $44,000. nVerses Capital LLC bought a new position in Vestis during the 2nd quarter worth approximately $61,000. Finally, PNC Financial Services Group Inc. bought a new position in Vestis during the 4th quarter worth approximately $65,000. 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.