Vestis Corporation (NYSE:VSTS) Stock Rated “Reduce” by Wall Street Brokerages

Vestis Corporation (NYSE:VSTS) has been assigned an average recommendation of “Reduce” from the eight research firms that are presently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $12.66.

VSTS has been the topic of a number of recent analyst reports. The Goldman Sachs Group increased their price target on Vestis from $8.20 to $9.30 and gave the stock a “sell” rating in a research report on Tuesday, August 11th. Robert W. Baird boosted their price objective on Vestis from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Wednesday, August 12th. JPMorgan Chase & Co. upped their target price on Vestis from $11.00 to $13.00 and gave the stock an “underweight” rating in a research note on Thursday, August 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Vestis in a research report on Wednesday. Finally, Zacks Research cut shares of Vestis from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th.

Insiders Place Their Bets

In related news, CEO James Barber acquired 84,500 shares of Vestis stock in a transaction on Wednesday, September 2nd. The stock was bought at an average cost of $12.37 per share, for a total transaction of $1,045,265.00. Following the completion of the transaction, the chief executive officer owned 867,222 shares of the company’s stock, valued at approximately $10,727,536.14. The trade was a 10.80% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 15.70% of the company’s stock.

Institutional Trading of Vestis

Institutional investors have recently modified their holdings of the stock. Commonwealth Equity Services LLC increased its stake in shares of Vestis by 12.3% during the third quarter. Commonwealth Equity Services LLC now owns 12,937 shares of the company’s stock worth $173,000 after purchasing an additional 1,414 shares in the last quarter. Quantinno Capital Management LP lifted its stake in Vestis by 2.1% in the 1st quarter. Quantinno Capital Management LP now owns 86,042 shares of the company’s stock valued at $676,000 after buying an additional 1,756 shares in the last quarter. HB Wealth Management LLC lifted its stake in Vestis by 16.2% in the 2nd quarter. HB Wealth Management LLC now owns 15,270 shares of the company’s stock valued at $222,000 after buying an additional 2,132 shares in the last quarter. Range Financial Group LLC lifted its stake in Vestis by 2.2% in the 3rd quarter. Range Financial Group LLC now owns 120,196 shares of the company’s stock valued at $1,606,000 after buying an additional 2,586 shares in the last quarter. Finally, Philadelphia Investment Partners LLC acquired a new stake in Vestis in the 2nd quarter worth about $47,000. Institutional investors and hedge funds own 97.40% of the company’s stock.

Vestis Stock Performance

VSTS traded up $0.13 on Friday, reaching $14.25. The stock had a trading volume of 839,787 shares, compared to its average volume of 1,332,785. The business’s 50-day moving average price is $13.90 and its two-hundred day moving average price is $11.61. The company has a market cap of $1.88 billion, a P/E ratio of -284.94 and a beta of 0.83. Vestis has a 12-month low of $5.00 and a 12-month high of $16.90. The company has a current ratio of 2.17, a quick ratio of 1.75 and a debt-to-equity ratio of 1.38.

Vestis (NYSE:VSTS) last posted its earnings results on Tuesday, August 11th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.08. Vestis had a negative net margin of 0.20% and a positive return on equity of 7.27%. The business had revenue of $661.66 million for the quarter, compared to analyst estimates of $668.94 million. Sell-side analysts forecast that Vestis will post 0.62 earnings per share for the current year.

About Vestis

Vestis Corporation (NYSE: VSTS) provides workplace apparel and facility services to businesses and organizations across the United States and Canada. Its offerings are designed to help customers manage employee uniforms and maintain clean, safe, and professional work environments.

The company supplies and services uniforms, workwear, and protective apparel, along with related products such as linens, towels, floor mats, restroom supplies, first-aid products, and other workplace essentials.