Vestis Co. (NYSE:VSTS) Receives $22.56 Consensus PT from Analysts

Shares of Vestis Co. (NYSE:VSTS) have earned an average recommendation of “Moderate Buy” from the nine brokerages that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $22.56.

A number of equities analysts have issued reports on the company. Wolfe Research assumed coverage on Vestis in a research note on Thursday, January 11th. They set an “outperform” rating and a $24.00 price target for the company. Barclays lowered Vestis from an “equal weight” rating to an “underweight” rating and raised their price objective for the stock from $17.00 to $19.00 in a research note on Wednesday, February 28th. Finally, The Goldman Sachs Group began coverage on Vestis in a research note on Thursday, January 25th. They set a “neutral” rating and a $22.00 price objective for the company.

Vestis Stock Up 0.9 %

Shares of NYSE VSTS opened at $18.95 on Friday. The stock has a fifty day moving average price of $18.84 and a two-hundred day moving average price of $18.65. The company has a quick ratio of 2.23, a current ratio of 2.61 and a debt-to-equity ratio of 1.73. Vestis has a 1 year low of $13.83 and a 1 year high of $22.37.

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

Vestis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were given a $0.035 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.14 annualized dividend and a dividend yield of 0.74%.

Insider Activity

In other Vestis news, CEO Kim Scott bought 15,000 shares of the stock in a transaction on Friday, February 9th. The shares were bought at an average price of $19.14 per share, with a total value of $287,100.00. Following the purchase, the chief executive officer now directly owns 183,131 shares in the company, valued at approximately $3,505,127.34. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Institutional Investors Weigh In On Vestis

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Strs Ohio purchased a new stake in shares of Vestis during the third quarter worth $359,000. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Vestis during the third quarter valued at $1,318,000. Wolverine Asset Management LLC acquired a new stake in Vestis during the third quarter valued at $2,412,000. CI Investments Inc. acquired a new stake in Vestis during the third quarter valued at $28,000. Finally, Soros Fund Management LLC acquired a new stake in Vestis during the third quarter valued at $14,714,000. Hedge funds and other institutional investors 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.