Vestis (NYSE:VSTS) Price Target Lowered to $5.00 at Barclays

Vestis (NYSE:VSTS) had its price target lowered by Barclays from $10.00 to $5.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an underweight rating on the stock.

Other equities research analysts also recently issued reports about the stock. The Goldman Sachs Group reduced their price objective on shares of Vestis from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Monday, March 17th. Robert W. Baird lowered their price objective on Vestis from $17.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday, March 20th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat.com, Vestis has a consensus rating of “Hold” and a consensus target price of $11.75.

Vestis Stock Up 0.3 %

Vestis stock opened at $6.29 on Friday. The firm has a market capitalization of $828.68 million, a P/E ratio of 78.63 and a beta of 1.61. The company has a current ratio of 1.80, a quick ratio of 1.43 and a debt-to-equity ratio of 1.39. Vestis has a twelve month low of $5.20 and a twelve month high of $17.83. The stock’s fifty day simple moving average is $9.08 and its 200-day simple moving average is $12.88.

Vestis (NYSE:VSTS) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.20). Vestis had a return on equity of 7.91% and a net margin of 0.34%. The company had revenue of $665.25 million for the quarter, compared to analysts’ expectations of $690.81 million. The business’s revenue for the quarter was down 5.7% on a year-over-year basis. As a group, equities analysts expect that Vestis will post 0.7 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Douglas A. Pertz acquired 70,000 shares of Vestis stock in a transaction on Thursday, May 8th. The stock was purchased at an average cost of $6.17 per share, with a total value of $431,900.00. Following the purchase, the director now directly owns 297,010 shares in the company, valued at approximately $1,832,551.70. The trade was a 30.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 13.60% of the company’s stock.

Hedge Funds Weigh In On Vestis

A number of large investors have recently modified their holdings of the business. True Wealth Design LLC acquired a new position in shares of Vestis during the 4th quarter worth $29,000. Spire Wealth Management purchased a new stake in shares of Vestis during the 4th quarter worth approximately $29,000. Smartleaf Asset Management LLC grew its holdings in shares of Vestis by 548.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,510 shares of the company’s stock worth $38,000 after acquiring an additional 2,123 shares during the period. GAMMA Investing LLC increased its stake in Vestis by 17.9% in the 4th quarter. GAMMA Investing LLC now owns 4,670 shares of the company’s stock valued at $71,000 after purchasing an additional 710 shares in the last quarter. Finally, Copeland Capital Management LLC raised its holdings in Vestis by 33.0% during the first quarter. Copeland Capital Management LLC now owns 5,428 shares of the company’s stock worth $54,000 after purchasing an additional 1,346 shares during the last quarter. 97.40% of the stock is owned by hedge funds and other institutional investors.

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.