Vestis Co. (NYSE:VSTS) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of Vestis Co. (NYSE:VSTS) have received a consensus rating of “Reduce” from the eight brokerages that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $14.08.

VSTS has been the subject of several research reports. The Goldman Sachs Group lifted their price target on Vestis from $13.60 to $15.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. lifted their price target on Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Finally, Barclays boosted their target price on shares of Vestis from $10.00 to $13.00 and gave the company an “underweight” rating in a research note on Friday, November 22nd.

Vestis Stock Performance

NYSE:VSTS opened at $16.21 on Friday. The firm’s fifty day moving average price is $15.69 and its 200 day moving average price is $14.44. Vestis has a 1-year low of $8.92 and a 1-year high of $22.37. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.73 and a quick ratio of 1.36. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of 101.30 and a beta of 1.17.

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

Vestis Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, January 6th. Shareholders of record on Friday, December 13th were issued a $0.035 dividend. This represents a $0.14 annualized dividend and a yield of 0.86%. The ex-dividend date was Friday, December 13th. Vestis’s dividend payout ratio (DPR) is 87.51%.

Institutional Trading of Vestis

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Brooklyn Investment Group purchased a new stake in Vestis in the 3rd quarter valued at about $27,000. Nomura Asset Management Co. Ltd. increased its position in Vestis by 104.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,000 shares of the company’s stock worth $30,000 after purchasing an additional 1,020 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in Vestis during the 3rd quarter worth approximately $41,000. Canada Pension Plan Investment Board acquired a new stake in Vestis during the 2nd quarter worth approximately $44,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Vestis during the 3rd quarter worth approximately $51,000. Hedge funds and other 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.