Vestis Corporation (NYSE:VSTS) Stock Has Consensus Price Target of $12.66 According to Brokerages

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

VSTS has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised their price target on shares of Vestis from $11.00 to $13.00 and gave the stock an “underweight” rating in a research note on Thursday, August 13th. Stifel Nicolaus upped their target price on shares of Vestis from $11.00 to $14.00 and gave the stock a “hold” rating in a research note on Wednesday, August 12th. The Goldman Sachs Group raised their target price on shares of Vestis from $8.20 to $9.30 and gave the stock a “sell” rating in a research report on Tuesday, August 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vestis in a research report on Friday, August 7th. Finally, Zacks Research downgraded shares of Vestis from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 10th.

Insider Transactions at Vestis

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

Hedge Funds Weigh In On Vestis

Institutional investors have recently made changes to their positions in the company. WINTON GROUP Ltd raised its holdings in shares of Vestis by 7.8% in the second quarter. WINTON GROUP Ltd now owns 100,064 shares of the company’s stock valued at $1,453,000 after acquiring an additional 7,231 shares in the last quarter. Engineers Gate Manager LP bought a new position in Vestis during the 2nd quarter worth about $503,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Vestis during the 2nd quarter worth about $453,000. HB Wealth Management LLC grew its holdings in Vestis by 16.2% during the 2nd quarter. HB Wealth Management LLC now owns 15,270 shares of the company’s stock worth $222,000 after acquiring an additional 2,132 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in Vestis during the 2nd quarter valued at about $145,000. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Vestis Trading Up 0.4%

VSTS stock traded up $0.06 during midday trading on Tuesday, reaching $14.31. The company’s stock had a trading volume of 144,083 shares, compared to its average volume of 1,598,396. Vestis has a 1 year low of $4.50 and a 1 year high of $16.90. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of -285.34 and a beta of 0.90. The stock has a fifty day simple moving average of $13.45 and a two-hundred day simple moving average of $12.52. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.75 and a current ratio of 2.17.

Vestis (NYSE:VSTS) last issued its earnings results on Tuesday, August 11th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.08. The firm had revenue of $661.66 million during the quarter, compared to analyst estimates of $668.94 million. Vestis had a negative net margin of 0.20% and a positive return on equity of 7.27%. On average, equities research analysts predict that Vestis will post 0.62 EPS for the current year.

About Vestis

Vestis Corporation (NYSE: VSTS) provides uniform and workplace services to businesses and organizations across the United States and Canada. The company supplies, rents, cleans, maintains and delivers workwear and uniforms, helping customers manage employee apparel and related workplace needs.

Its offerings include uniforms and protective workwear, floor mats, towels, linens, restroom supplies, first-aid products and other workplace solutions. Vestis serves customers in a range of industries, including manufacturing, healthcare, hospitality, food service, automotive, education, government and commercial services.

Vestis began operating as an independent publicly traded company in October 2023 following its separation from Aramark.