Analysts Set Vestis Corporation (NYSE:VSTS) Price Target at $9.50

Vestis Corporation (NYSE:VSTS) has been given a consensus recommendation of “Reduce” by the seven research firms that are currently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $9.50.

VSTS has been the subject of a number of recent research reports. Stifel Nicolaus raised their target price on shares of Vestis from $8.50 to $11.00 and gave the company a “hold” rating in a report on Wednesday, May 13th. William Blair raised shares of Vestis from a “market perform” rating to an “outperform” rating in a research note on Tuesday, May 12th. Barclays lifted their price objective on shares of Vestis from $6.00 to $9.00 and gave the stock an “underweight” rating in a research note on Friday, May 15th. Robert W. Baird lifted their price objective on shares of Vestis from $10.00 to $14.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 13th. Finally, Weiss Ratings lowered shares of Vestis from a “sell (d)” rating to a “sell (d-)” rating in a research note on Wednesday, May 13th.

Vestis Trading Up 0.2%

VSTS stock opened at $13.21 on Wednesday. The firm has a fifty day moving average price of $10.71 and a 200 day moving average price of $8.42. Vestis has a fifty-two week low of $3.98 and a fifty-two week high of $13.52. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.69 and a current ratio of 2.13. The firm has a market cap of $1.75 billion, a PE ratio of -94.37 and a beta of 1.07.

Vestis (NYSE:VSTS) last posted its earnings results on Tuesday, May 12th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.07. Vestis had a negative net margin of 0.63% and a positive return on equity of 5.27%. The firm had revenue of $659.44 million during the quarter, compared to analyst estimates of $655.32 million. During the same period last year, the firm posted ($0.05) earnings per share. Vestis’s revenue for the quarter was down .9% compared to the same quarter last year. Sell-side analysts anticipate that Vestis will post 0.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Private Management Group Inc. boosted its stake in Vestis by 6.1% during the third quarter. Private Management Group Inc. now owns 2,589,626 shares of the company’s stock worth $11,731,000 after buying an additional 149,908 shares during the period. SG Americas Securities LLC boosted its stake in Vestis by 1,506.6% during the fourth quarter. SG Americas Securities LLC now owns 295,000 shares of the company’s stock worth $1,968,000 after buying an additional 276,638 shares during the period. Allianz Asset Management GmbH boosted its stake in Vestis by 22.6% during the third quarter. Allianz Asset Management GmbH now owns 700,798 shares of the company’s stock worth $3,175,000 after buying an additional 129,415 shares during the period. Medina Value Partners LLC purchased a new position in Vestis during the third quarter worth $6,469,000. Finally, Counterpoint Mutual Funds LLC boosted its stake in Vestis by 481.9% during the third quarter. Counterpoint Mutual Funds LLC now owns 720,944 shares of the company’s stock worth $3,266,000 after buying an additional 597,056 shares during the period. 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. The company serves manufacturing, hospitality, retail, food processing, food service, pharmaceuticals, healthcare, automotive, and cleanroom industries.