Vestis (NYSE:VSTS) Given New $16.00 Price Target at JPMorgan Chase & Co.

Vestis (NYSE:VSTS) had its target price upped by JPMorgan Chase & Co. from $15.00 to $16.00 in a research report report published on Friday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other research firms have also recently weighed in on VSTS. Baird R W cut shares of Vestis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 8th. Barclays boosted their target price on shares of Vestis from $10.00 to $13.00 and gave the company an “underweight” rating in a research note on Friday. The Goldman Sachs Group boosted their price target on shares of Vestis from $12.50 to $13.80 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Finally, Robert W. Baird lowered shares of Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 price target on the stock. in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $17.43.

Vestis Stock Up 2.6 %

VSTS opened at $16.02 on Friday. The company has a quick ratio of 2.02, a current ratio of 1.73 and a debt-to-equity ratio of 1.40. The stock has a market cap of $2.11 billion and a price-to-earnings ratio of 100.13. Vestis has a twelve month low of $8.92 and a twelve month high of $22.37. The company’s 50-day moving average price is $14.58 and its two-hundred day moving average price is $13.26.

Vestis Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 13th will be issued a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Friday, December 13th. Vestis’s dividend payout ratio (DPR) is presently 87.51%.

Institutional Trading of Vestis

A number of hedge funds and other institutional investors have recently bought and sold shares of VSTS. AQR Capital Management LLC increased its holdings in shares of Vestis by 223.0% in the 2nd quarter. AQR Capital Management LLC now owns 3,753,889 shares of the company’s stock worth $45,197,000 after buying an additional 2,591,593 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Vestis by 111.0% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,631,652 shares of the company’s stock worth $39,212,000 after buying an additional 1,384,413 shares during the last quarter. Forest Avenue Capital Management LP bought a new position in shares of Vestis in the 3rd quarter worth $19,486,000. Granite Investment Partners LLC bought a new position in shares of Vestis in the 2nd quarter worth $13,752,000. Finally, Bayberry Capital Partners LP bought a new position in shares of Vestis in the 1st quarter worth $16,380,000. 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.