Vestis Co. (NYSE:VSTS) Given Average Recommendation of “Reduce” by Brokerages

Shares of Vestis Co. (NYSE:VSTS) have received a consensus rating of “Reduce” from the eight ratings firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $14.08.

Several analysts recently weighed in on VSTS shares. Barclays lifted their price objective on Vestis from $10.00 to $13.00 and gave the company an “underweight” rating in a report on Friday, November 22nd. The Goldman Sachs Group boosted their price target on shares of Vestis from $13.60 to $15.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Vestis from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd.

Vestis Stock Performance

Shares of NYSE:VSTS opened at $13.75 on Thursday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.43 and a current ratio of 1.80. The firm has a market cap of $1.81 billion, a PE ratio of 171.90 and a beta of 1.16. The firm’s 50 day simple moving average is $15.66 and its 200-day simple moving average is $14.79. Vestis has a one year low of $8.92 and a one year high of $20.07.

Vestis (NYSE:VSTS) last released its quarterly earnings data on Friday, January 31st. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.12 by $0.02. Vestis had a return on equity of 7.91% and a net margin of 0.34%. During the same quarter in the prior year, the company posted $0.22 EPS. As a group, equities analysts predict that Vestis will post 0.7 EPS for the current year.

Vestis Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Friday, February 21st will be issued a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date is Friday, February 21st. Vestis’s dividend payout ratio is currently 175.02%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of VSTS. Brooklyn Investment Group purchased a new position in Vestis in the third quarter worth $27,000. Spire Wealth Management acquired a new stake in shares of Vestis in the 4th quarter worth $29,000. Nomura Asset Management Co. Ltd. grew its stake in Vestis by 104.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,000 shares of the company’s stock worth $30,000 after buying an additional 1,020 shares during the last quarter. Smartleaf Asset Management LLC increased its position in Vestis by 548.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,510 shares of the company’s stock valued at $38,000 after buying an additional 2,123 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in Vestis in the third quarter valued at about $41,000. Hedge funds and other institutional investors own 97.40% of the company’s stock.

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.