Vestis Corporation (NYSE:VSTS) Receives Consensus Recommendation of “Strong Sell” from Analysts

Shares of Vestis Corporation (NYSE:VSTS) have received an average recommendation of “Strong Sell” from the five brokerages that are presently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation and one has given a hold recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $5.8750.

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group raised their price target on shares of Vestis from $5.30 to $6.00 and gave the stock a “sell” rating in a research note on Wednesday, February 11th. Robert W. Baird upped their price objective on shares of Vestis from $5.00 to $6.50 and gave the company a “neutral” rating in a research note on Tuesday, December 2nd. Weiss Ratings restated a “sell (d)” rating on shares of Vestis in a research report on Wednesday, January 21st. Barclays reaffirmed an “underweight” rating on shares of Vestis in a research note on Tuesday, February 17th. Finally, JPMorgan Chase & Co. boosted their price target on Vestis from $5.50 to $6.00 and gave the company an “underweight” rating in a report on Wednesday, December 3rd.

Hedge Funds Weigh In On Vestis

Large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its stake in Vestis by 1,520.5% in the 4th quarter. Royal Bank of Canada now owns 5,688,399 shares of the company’s stock worth $37,942,000 after buying an additional 5,337,380 shares during the last quarter. Greenstone Partners & Co. LLC acquired a new position in shares of Vestis during the 4th quarter valued at about $33,979,000. Jacobs Levy Equity Management Inc. increased its stake in shares of Vestis by 1,265.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,960,150 shares of the company’s stock valued at $8,879,000 after acquiring an additional 1,816,633 shares during the last quarter. Medina Value Partners LLC purchased a new position in shares of Vestis during the 3rd quarter worth about $6,469,000. Finally, Jefferies Financial Group Inc. purchased a new position in shares of Vestis during the 4th quarter worth about $8,419,000. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

Vestis Price Performance

Shares of NYSE:VSTS traded up $0.02 on Friday, hitting $7.74. The company had a trading volume of 108,592 shares, compared to its average volume of 1,927,049. The company has a current ratio of 2.17, a quick ratio of 1.74 and a debt-to-equity ratio of 1.48. The company has a market cap of $1.02 billion, a PE ratio of -20.93 and a beta of 0.49. Vestis has a 52-week low of $3.98 and a 52-week high of $10.24. The business has a 50 day moving average of $7.42 and a 200 day moving average of $6.26.

Vestis (NYSE:VSTS) last posted its quarterly earnings data on Tuesday, February 10th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.04. Vestis had a positive return on equity of 2.08% and a negative net margin of 1.75%.The firm had revenue of $663.39 million during the quarter, compared to analysts’ expectations of $665.77 million. During the same quarter last year, the business posted $0.14 EPS. The firm’s quarterly revenue was down 3.0% compared to the same quarter last year. As a group, equities analysts anticipate that Vestis will post 0.7 earnings per share for the current fiscal year.

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. The company serves manufacturing, hospitality, retail, food processing, food service, pharmaceuticals, healthcare, automotive, and cleanroom industries.