The Goldman Sachs Group Issues Pessimistic Forecast for Vestis (NYSE:VSTS) Stock Price

Vestis (NYSE:VSTS) had its price objective dropped by equities researchers at The Goldman Sachs Group from $15.00 to $13.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price would indicate a potential upside of 16.54% from the stock’s current price.

A number of other equities research analysts have also recently commented on VSTS. JPMorgan Chase & Co. increased their price target on Vestis from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Barclays raised their target price on Vestis from $10.00 to $13.00 and gave the stock an “underweight” rating in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat, Vestis has an average rating of “Hold” and a consensus target price of $13.68.

Vestis Price Performance

Shares of Vestis stock traded up $0.35 on Monday, hitting $11.16. 450,674 shares of the company traded hands, compared to its average volume of 2,076,616. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.43 and a current ratio of 1.80. The business has a 50-day simple moving average of $13.97 and a 200 day simple moving average of $14.66. Vestis has a 52 week low of $8.92 and a 52 week high of $19.76. The stock has a market capitalization of $1.47 billion, a P/E ratio of 139.45 and a beta of 1.40.

Vestis (NYSE:VSTS) last issued its quarterly earnings data on Friday, January 31st. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. Vestis had a net margin of 0.34% and a return on equity of 7.91%. During the same period in the previous year, the company posted $0.22 earnings per share. Research analysts expect that Vestis will post 0.7 earnings per share for the current fiscal year.

Institutional Trading of Vestis

Several institutional investors and hedge funds have recently made changes to their positions in VSTS. Pacer Advisors Inc. acquired a new position in shares of Vestis during the 4th quarter worth $210,766,000. Millennium Management LLC boosted its position in Vestis by 179.4% during the fourth quarter. Millennium Management LLC now owns 3,003,762 shares of the company’s stock worth $45,777,000 after purchasing an additional 1,928,687 shares in the last quarter. Alyeska Investment Group L.P. acquired a new stake in Vestis in the fourth quarter valued at $25,805,000. First Trust Advisors LP purchased a new position in shares of Vestis in the fourth quarter valued at $22,936,000. Finally, Birnam Oak Advisors LP acquired a new position in shares of Vestis during the 4th quarter worth $21,446,000. 97.40% of the stock is owned by hedge funds and other institutional investors.

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.