Vestis Co. (NYSE:VSTS) Given Average Rating of “Hold” by Brokerages

Vestis Co. (NYSE:VSTS) has been assigned a consensus recommendation of “Hold” from the eleven research firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $16.69.

Several equities research analysts have commented on the stock. The Goldman Sachs Group boosted their price target on shares of Vestis from $12.50 to $13.80 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Baird R W cut shares of Vestis from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 8th. Finally, Robert W. Baird lowered shares of Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 price objective on the stock. in a research note on Thursday, August 8th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of VSTS. PNC Financial Services Group Inc. acquired a new position in Vestis in the 4th quarter valued at about $65,000. Capstone Investment Advisors LLC acquired a new position in Vestis in the 1st quarter valued at about $409,000. DAVENPORT & Co LLC acquired a new position in Vestis in the 1st quarter valued at about $21,712,000. Texas Permanent School Fund Corp grew its stake in Vestis by 1.9% in the 1st quarter. Texas Permanent School Fund Corp now owns 115,037 shares of the company’s stock valued at $2,217,000 after buying an additional 2,124 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in Vestis by 617.8% in the 1st quarter. SG Americas Securities LLC now owns 75,697 shares of the company’s stock valued at $1,459,000 after buying an additional 65,151 shares during the last quarter. Institutional investors and hedge funds own 97.40% of the company’s stock.

Vestis Trading Down 1.1 %

VSTS opened at $13.25 on Tuesday. The stock has a market capitalization of $1.74 billion and a P/E ratio of 17.91. Vestis has a 12 month low of $8.92 and a 12 month high of $22.37. The firm’s fifty day simple moving average is $14.65 and its 200 day simple moving average is $13.49. The company has a current ratio of 2.37, a quick ratio of 2.02 and a debt-to-equity ratio of 1.67.

Vestis (NYSE:VSTS) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.10 by $0.06. Vestis had a net margin of 4.13% and a return on equity of 18.00%. The firm had revenue of $698.20 million for the quarter, compared to analysts’ expectations of $688.33 million. Vestis’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, research analysts anticipate that Vestis will post 0.64 EPS for the current fiscal year.

Vestis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Friday, September 13th were paid a $0.035 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.14 dividend on an annualized basis and a yield of 1.06%. Vestis’s dividend payout ratio (DPR) is currently 18.92%.

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.