Vestis Co. (NYSE:VSTS) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Vestis Co. (NYSE:VSTS) have been given a consensus recommendation of “Hold” by the nine ratings firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $15.73.

Several analysts have recently weighed in on the stock. 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 report on Friday, November 22nd. Barclays lifted their price objective on Vestis from $10.00 to $13.00 and gave the company an “underweight” rating in a report on Friday, November 22nd. Finally, The Goldman Sachs Group increased their target price on Vestis from $13.60 to $15.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd.

Institutional Trading of Vestis

Several large investors have recently bought and sold shares of the company. AQR Capital Management LLC lifted its holdings in shares of 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 purchasing an additional 2,591,593 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in Vestis by 111.0% in the 3rd 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. Forest Avenue Capital Management LP acquired a new stake in Vestis during the 3rd quarter valued at $19,486,000. Granite Investment Partners LLC purchased a new position in Vestis during the second quarter worth $13,752,000. Finally, TOMS Capital Investment Management LP increased its position in Vestis by 22.7% during the third quarter. TOMS Capital Investment Management LP now owns 2,330,155 shares of the company’s stock worth $34,719,000 after buying an additional 430,555 shares in the last quarter. Institutional investors and hedge funds own 97.40% of the company’s stock.

Vestis Stock Performance

Shares of VSTS stock opened at $15.36 on Wednesday. Vestis has a 52-week low of $8.92 and a 52-week high of $22.37. The stock’s 50-day moving average price is $15.13 and its 200 day moving average price is $14.03. The company has a quick ratio of 1.36, a current ratio of 1.73 and a debt-to-equity ratio of 1.40. The stock has a market capitalization of $2.02 billion, a PE ratio of 96.01 and a beta of 1.17.

Vestis (NYSE:VSTS) last released its quarterly earnings results on Thursday, November 21st. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.02). Vestis had a return on equity of 9.07% and a net margin of 0.75%. The company had revenue of $684.28 million for the quarter, compared to analysts’ expectations of $693.54 million. The business’s revenue was down 4.4% compared to the same quarter last year. As a group, equities research analysts forecast that Vestis will post 0.66 EPS for the current year.

Vestis Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend is Friday, December 13th. Vestis’s dividend payout ratio (DPR) is 87.50%.

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.