Vestis (NYSE:VSTS) Price Target Lowered to $13.00 at Robert W. Baird

Vestis (NYSE:VSTS) had its price target decreased by stock analysts at Robert W. Baird from $24.00 to $13.00 in a report issued on Friday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s price target suggests a potential upside of 27.33% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Wolfe Research began coverage on shares of Vestis in a report on Thursday, January 11th. They issued an “outperform” rating and a $24.00 price target for the company. Barclays lowered shares of 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 report on Wednesday, February 28th. Finally, The Goldman Sachs Group began coverage on shares of Vestis in a research report on Thursday, January 25th. They set a “neutral” rating and a $22.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Vestis has an average rating of “Moderate Buy” and a consensus target price of $20.33.

Vestis Price Performance

VSTS opened at $10.21 on Friday. The business has a 50-day moving average of $18.60 and a 200-day moving average of $18.71. Vestis has a fifty-two week low of $8.92 and a fifty-two week high of $22.37. 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 (NYSE:VSTS) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.09). The business had revenue of $705.37 million during the quarter, compared to the consensus estimate of $722.54 million. The business’s quarterly revenue was up .9% on a year-over-year basis. Equities research analysts anticipate that Vestis will post 1.03 EPS for the current year.

Insider Activity

In other Vestis news, CEO Kim Scott bought 15,000 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was purchased at an average cost of $19.14 per share, with a total value of $287,100.00. Following the completion of the purchase, the chief executive officer now owns 183,131 shares in the company, valued at $3,505,127.34. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of VSTS. Parkside Financial Bank & Trust bought a new position in Vestis in the fourth quarter valued at $25,000. Sound Income Strategies LLC bought a new position in shares of Vestis in the 4th quarter valued at about $25,000. CI Investments Inc. bought a new stake in Vestis during the third quarter worth about $28,000. Daiwa Securities Group Inc. acquired a new position in Vestis during the fourth quarter valued at approximately $34,000. Finally, Wahed Invest LLC bought a new position in Vestis in the fourth quarter valued at approximately $42,000. 97.40% of the stock is owned by institutional investors and hedge funds.

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.