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

Shares of Vestis Corporation (NYSE:VSTS) have been assigned an average recommendation of “Reduce” from the seven brokerages that are currently covering the company, Marketbeat reports. Four analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $9.50.

VSTS has been the topic of several analyst reports. Stifel Nicolaus lifted their price target on shares of Vestis from $8.50 to $11.00 and gave the stock a “hold” rating in a research note on Wednesday, May 13th. Robert W. Baird raised their target price on Vestis from $10.00 to $14.00 and gave the stock a “neutral” rating in a report on Wednesday, May 13th. Barclays lifted their target price on Vestis from $6.00 to $9.00 and gave the company an “underweight” rating in a research report on Friday, May 15th. The Goldman Sachs Group reissued a “sell” rating and set a $7.50 price target on shares of Vestis in a report on Wednesday, May 13th. Finally, Weiss Ratings downgraded Vestis from a “sell (d)” rating to a “sell (d-)” rating in a research note on Wednesday, May 13th.

Vestis Stock Performance

NYSE:VSTS traded up $0.02 on Friday, hitting $14.30. The stock had a trading volume of 818,494 shares, compared to its average volume of 1,367,272. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of -102.11 and a beta of 0.98. The company has a quick ratio of 1.69, a current ratio of 2.13 and a debt-to-equity ratio of 1.44. The business’s 50-day simple moving average is $12.15 and its two-hundred day simple moving average is $9.13. Vestis has a 52-week low of $3.98 and a 52-week high of $15.06.

Vestis (NYSE:VSTS) last posted its quarterly earnings data on Tuesday, May 12th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.07. The company 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 firm’s revenue was down .9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.05) earnings per share. As a group, research analysts predict that Vestis will post 0.52 earnings per share for the current year.

Hedge Funds Weigh In On Vestis

Large investors have recently added to or reduced their stakes in the company. Militia Capital Management LLC purchased a new stake in shares of Vestis in the first quarter worth $618,000. Allen Capital Group LLC purchased a new position in shares of Vestis during the 1st quarter valued at $94,000. RBF Capital LLC lifted its stake in shares of Vestis by 2.0% during the 1st quarter. RBF Capital LLC now owns 878,251 shares of the company’s stock valued at $6,903,000 after buying an additional 17,009 shares in the last quarter. Empowered Funds LLC boosted its holdings in Vestis by 8.5% in the 1st quarter. Empowered Funds LLC now owns 502,782 shares of the company’s stock worth $3,952,000 after buying an additional 39,433 shares during the period. Finally, Quantinno Capital Management LP boosted its holdings in Vestis by 2.1% in the 1st quarter. Quantinno Capital Management LP now owns 86,042 shares of the company’s stock worth $676,000 after buying an additional 1,756 shares during the period. Hedge funds and other institutional investors own 97.40% of the company’s stock.

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.