Vestis Co. (NYSE:VSTS) Receives $22.56 Consensus Target Price from Brokerages

Vestis Co. (NYSE:VSTS) has earned an average rating of “Moderate Buy” from the nine ratings firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $22.56.

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of Vestis in a research note on Thursday, January 25th. They issued a “neutral” rating and a $22.00 price objective on the stock. Barclays cut shares of Vestis from an “equal weight” rating to an “underweight” rating and lifted their price objective for the company from $17.00 to $19.00 in a research note on Wednesday, February 28th. Finally, Wolfe Research assumed coverage on shares of Vestis in a research note on Thursday, January 11th. They issued an “outperform” rating and a $24.00 price objective on the stock.

Insider Activity at Vestis

In other news, CEO Kim Scott bought 15,000 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were acquired at an average price of $19.14 per share, for a total transaction of $287,100.00. Following the completion of the acquisition, the chief executive officer now directly owns 183,131 shares in the company, valued at $3,505,127.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Hedge Funds Weigh In On Vestis

Several hedge funds and other institutional investors have recently bought and sold shares of VSTS. Sound Income Strategies LLC acquired a new position in Vestis in the fourth quarter valued at $25,000. Parkside Financial Bank & Trust acquired a new position in Vestis in the fourth quarter valued at $25,000. CI Investments Inc. acquired a new position in Vestis in the third quarter valued at $28,000. Daiwa Securities Group Inc. acquired a new position in shares of Vestis during the fourth quarter valued at about $34,000. Finally, TFO Wealth Partners LLC acquired a new position in shares of Vestis during the fourth quarter valued at about $42,000. Institutional investors and hedge funds own 97.40% of the company’s stock.

Vestis Stock Up 0.9 %

NYSE VSTS opened at $18.95 on Friday. The company has a 50 day moving average of $18.84 and a 200-day moving average of $18.65. The company has a current ratio of 2.61, a quick ratio of 2.23 and a debt-to-equity ratio of 1.73. Vestis has a 1-year low of $13.83 and a 1-year high of $22.37.

Vestis (NYSE:VSTS) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The company had revenue of $717.90 million for the quarter, compared to analyst estimates of $724.72 million. The company’s revenue was up 2.5% compared to the same quarter last year. As a group, equities research analysts expect that Vestis will post 1.03 EPS for the current fiscal year.

Vestis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Friday, March 15th were issued a $0.035 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.14 annualized dividend and a yield of 0.74%.

Vestis Company Profile

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.