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

Vestis (NYSE:VSTS) had its price objective trimmed by Robert W. Baird from $24.00 to $13.00 in a research report report published on Friday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

Several other research analysts also recently commented on the stock. The Goldman Sachs Group assumed coverage on shares of Vestis in a research note on Thursday, January 25th. They set a neutral rating and a $22.00 price target on the stock. Barclays downgraded shares of Vestis from an equal weight rating to an underweight rating and boosted their price target for the stock from $17.00 to $19.00 in a research note on Wednesday, February 28th. Finally, Wolfe Research began coverage on Vestis in a research note on Thursday, January 11th. They set an outperform rating and a $24.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Hold and an average target price of $19.33.

Vestis Price Performance

Shares of NYSE VSTS traded down $0.75 during midday trading on Friday, hitting $9.41. 24,764,651 shares of the company’s stock were exchanged, compared to its average volume of 2,588,736. The company has a quick ratio of 2.23, a current ratio of 2.51 and a debt-to-equity ratio of 1.69. The business’s fifty day moving average price is $18.38 and its two-hundred day moving average price is $18.67. Vestis has a 12-month low of $8.92 and a 12-month high of $22.37.

Vestis (NYSE:VSTS) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.09). The business had revenue of $705.37 million for the quarter, compared to analyst estimates of $722.54 million. Vestis’s revenue was up .9% on a year-over-year basis. As a group, analysts expect that Vestis will post 1.03 EPS for the current year.

Vestis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were issued a dividend of $0.035 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.49%.

Insider Activity at Vestis

In other Vestis news, CEO Kim Scott acquired 15,000 shares of the company’s stock in a transaction on Friday, February 9th. The stock was acquired at an average price of $19.14 per share, for a total transaction of $287,100.00. Following the acquisition, the chief executive officer now owns 183,131 shares in the company, valued at approximately $3,505,127.34. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Institutional Investors Weigh In On Vestis

Hedge funds have recently made changes to their positions in the company. Nordea Investment Management AB purchased a new position in Vestis during the fourth quarter valued at $3,909,000. Wolverine Asset Management LLC increased its stake in shares of Vestis by 48.0% in the 4th quarter. Wolverine Asset Management LLC now owns 185,000 shares of the company’s stock worth $3,911,000 after acquiring an additional 60,000 shares in the last quarter. New York State Teachers Retirement System purchased a new position in Vestis during the 4th quarter valued at about $1,697,000. State of New Jersey Common Pension Fund D bought a new stake in Vestis during the fourth quarter worth about $3,160,000. Finally, Yousif Capital Management LLC purchased a new stake in Vestis in the fourth quarter worth about $1,400,000. 97.40% of the stock is currently owned by institutional investors.

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.