Vestis (NYSE:VSTS) Price Target Raised to $13.00

Vestis (NYSE:VSTS) had its target price lifted by JPMorgan Chase & Co. from $11.00 to $13.00 in a report published on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the stock.

A number of other brokerages have also commented on VSTS. Stifel Nicolaus increased their price target on shares of Vestis from $11.00 to $14.00 and gave the stock a “hold” rating in a report on Wednesday. The Goldman Sachs Group lifted their price objective on shares of Vestis from $8.20 to $9.30 and gave the stock a “sell” rating in a report on Tuesday. Zacks Research lowered shares of Vestis from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 10th. Robert W. Baird increased their target price on Vestis from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, William Blair upgraded Vestis from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 12th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $12.66.

Vestis Stock Down 1.4%

VSTS stock opened at $13.32 on Thursday. The company has a current ratio of 2.17, a quick ratio of 1.69 and a debt-to-equity ratio of 1.38. The company’s 50 day moving average is $14.24 and its 200 day moving average is $10.80. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of -266.43 and a beta of 0.97. Vestis has a 1-year low of $3.98 and a 1-year high of $16.90.

Vestis (NYSE:VSTS) last announced its earnings results on Tuesday, August 11th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $668.94 million. Sell-side analysts predict that Vestis will post 0.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Weiss Asset Management LP bought a new stake in Vestis in the first quarter worth $584,000. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Vestis by 69.1% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,072,081 shares of the company’s stock valued at $8,427,000 after buying an additional 437,965 shares during the period. Militia Capital Management LLC bought a new position in shares of Vestis during the first quarter valued at about $618,000. UBS Group AG grew its stake in shares of Vestis by 121.2% during the fourth quarter. UBS Group AG now owns 885,984 shares of the company’s stock valued at $5,910,000 after buying an additional 485,396 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Vestis by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 9,960,651 shares of the company’s stock valued at $66,438,000 after buying an additional 346,736 shares during the last quarter. 97.40% of the stock is owned by hedge funds and other 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. The company serves manufacturing, hospitality, retail, food processing, food service, pharmaceuticals, healthcare, automotive, and cleanroom industries.