Vestis Co. (NYSE:VSTS) Given Average Recommendation of “Hold” by Analysts

by · The Markets Daily

Vestis Co. (NYSE:VSTS – Get Free Report) has been given a consensus recommendation of “Hold” by the nine ratings firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $15.73.

VSTS has been the topic of a number of analyst 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 target price on shares of Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Finally, Barclays increased their price target on shares of Vestis from $10.00 to $13.00 and gave the company an “underweight” rating in a research report on Friday, November 22nd.

Read Our Latest Research Report on VSTS

Institutional Investors Weigh In On Vestis

Institutional investors have recently modified their holdings of the stock. Brooklyn Investment Group purchased a new position in Vestis in the 3rd quarter worth approximately $27,000. Nomura Asset Management Co. Ltd. raised its stake in shares of Vestis by 104.1% in the third 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 during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Vestis in the third quarter worth $41,000. Canada Pension Plan Investment Board bought a new position in shares of Vestis during the second quarter valued at $44,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Vestis during the third quarter valued at $51,000. 97.40% of the stock is owned by hedge funds and other institutional investors.

Vestis Trading Down 0.1 %

Shares of VSTS opened at $15.24 on Wednesday. Vestis has a fifty-two week low of $8.92 and a fifty-two week high of $22.37. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of 95.26 and a beta of 1.17. The firm has a 50 day moving average price of $15.14 and a 200-day moving average price of $14.08. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.36 and a current ratio of 1.73.

Vestis (NYSE:VSTS – Get Free Report) last posted its quarterly earnings results on Thursday, November 21st. The company reported $0.11 earnings per share 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 business had revenue of $684.28 million during the quarter, compared to the consensus estimate of $693.54 million. Vestis’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 earnings per share for the current year.

Vestis Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend is Friday, December 13th. Vestis’s payout ratio is 87.50%.

Vestis Company Profile

(Get Free Report

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.

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