Vestis Corporation (NYSE:VSTS) Receives Average Recommendation of “Reduce” from Analysts

Vestis Corporation (NYSE:VSTS) has received an average recommendation of “Reduce” from the seven analysts that are presently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $9.50.

Several analysts have recently commented on VSTS shares. Weiss Ratings downgraded shares of Vestis from a “sell (d)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. Stifel Nicolaus upped their price objective on shares of Vestis from $8.50 to $11.00 and gave the company a “hold” rating in a report on Wednesday, May 13th. Robert W. Baird upped their price objective on shares of Vestis from $10.00 to $14.00 and gave the company a “neutral” rating in a report on Wednesday, May 13th. Barclays upped their price objective on shares of Vestis from $6.00 to $9.00 and gave the company an “underweight” rating in a report on Friday, May 15th. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and issued a $7.50 price objective on shares of Vestis in a report on Wednesday, May 13th.

Hedge Funds Weigh In On Vestis

Several large investors have recently made changes to their positions in VSTS. EverSource Wealth Advisors LLC lifted its stake in shares of Vestis by 471.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,456 shares of the company’s stock valued at $31,000 after purchasing an additional 4,502 shares during the period. Osaic Holdings Inc. lifted its stake in shares of Vestis by 703.2% in the 2nd quarter. Osaic Holdings Inc. now owns 5,743 shares of the company’s stock valued at $33,000 after purchasing an additional 5,028 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Vestis by 147.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,175 shares of the company’s stock valued at $35,000 after purchasing an additional 3,082 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Vestis by 176.1% in the 4th quarter. Farther Finance Advisors LLC now owns 5,193 shares of the company’s stock valued at $35,000 after purchasing an additional 3,312 shares during the period. Finally, Eurizon Capital SGR S.p.A. acquired a new position in shares of Vestis in the 4th quarter valued at $36,000. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Vestis Stock Up 0.3%

VSTS stock opened at $13.18 on Wednesday. The firm’s fifty day simple moving average is $10.93 and its 200-day simple moving average is $8.51. The company has a market capitalization of $1.74 billion, a P/E ratio of -94.16 and a beta of 1.08. The company has a debt-to-equity ratio of 1.44, a current ratio of 2.13 and a quick ratio of 1.69. Vestis has a 12 month low of $3.98 and a 12 month high of $13.52.

Vestis (NYSE:VSTS) last released its quarterly earnings data on Tuesday, May 12th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.09 by $0.07. The business had revenue of $659.44 million for the quarter, compared to the consensus estimate of $655.32 million. Vestis had a negative net margin of 0.63% and a positive return on equity of 5.27%. The business’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.05) EPS. As a group, equities research analysts forecast that Vestis will post 0.52 earnings per share for the current year.

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