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

Shares of Vestis Co. (NYSE:VSTS) have been assigned a consensus rating of “Moderate Buy” from the nine brokerages that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $22.56.

A number of equities analysts recently commented on VSTS shares. The Goldman Sachs Group began coverage on shares of Vestis in a research note on Thursday, January 25th. They issued a “neutral” rating and a $22.00 price objective for the company. Wells Fargo & Company started coverage on shares of Vestis in a report on Friday, December 15th. They issued an “overweight” rating and a $24.00 price target on the stock. Barclays lowered shares of Vestis from an “equal weight” rating to an “underweight” rating and boosted their price objective for the stock from $17.00 to $19.00 in a research note on Wednesday, February 28th. Finally, Wolfe Research initiated coverage on shares of Vestis in a research report on Thursday, January 11th. They set an “outperform” rating and a $24.00 target price for the company.

Vestis Price Performance

VSTS opened at $19.27 on Monday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 2.23 and a current ratio of 2.61. Vestis has a 12-month low of $13.83 and a 12-month high of $22.37. The stock’s fifty day moving average price is $19.54.

Vestis (NYSE:VSTS) last issued its earnings results on Wednesday, February 7th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.01). The business had revenue of $717.90 million for the quarter, compared to the consensus estimate of $724.72 million. The company’s revenue was up 2.5% compared to the same quarter last year. Equities analysts predict that Vestis will post 1.03 earnings per share for the current fiscal year.

Vestis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 4th. Shareholders of record on Friday, March 15th will be paid a dividend of $0.035 per share. The ex-dividend date is Thursday, March 14th. This represents a $0.14 dividend on an annualized basis and a yield of 0.73%.

Insider Transactions at Vestis

In other news, CEO Kim Scott bought 15,000 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were purchased at an average cost of $19.14 per share, with a total value of $287,100.00. Following the transaction, the chief executive officer now directly owns 183,131 shares in the company, valued at $3,505,127.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Institutional Trading of Vestis

A number of hedge funds and other institutional investors have recently made changes to their positions in VSTS. Parkside Financial Bank & Trust purchased a new position in shares of Vestis during the 4th quarter valued at about $25,000. Sound Income Strategies LLC purchased a new position in Vestis during the fourth quarter valued at approximately $25,000. CI Investments Inc. acquired a new position in Vestis in the third quarter valued at approximately $28,000. Quarry LP acquired a new position in Vestis in the fourth quarter valued at approximately $31,000. Finally, Groupama Asset Managment purchased a new stake in Vestis in the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 97.40% of the company’s stock.

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.