Vestis Co. (NYSE:VSTS) Given Average Recommendation of "Moderate Buy" by Analysts

Shares of Vestis Co. (NYSE:VSTS - Get Free Report) have been given a consensus rating of "Moderate Buy" by the nine brokerages that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $22.56.

A number of brokerages have weighed in on VSTS. Wolfe Research began coverage on shares of Vestis in a report on Thursday, January 11th. They issued an "outperform" rating and a $24.00 price target for the company. Barclays downgraded shares of Vestis from an "equal weight" rating to an "underweight" rating and upped their price target for the company from $17.00 to $19.00 in a report on Wednesday, February 28th. Finally, The Goldman Sachs Group assumed coverage on shares of Vestis in a report on Thursday, January 25th. They issued a "neutral" rating and a $22.00 price target for the company.

Insider Activity

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

Hedge Funds Weigh In On Vestis

Large investors have recently made changes to their positions in the business. Parkside Financial Bank & Trust acquired a new position in Vestis in the fourth quarter worth approximately $25,000. Sound Income Strategies LLC acquired a new position in Vestis in the fourth quarter worth approximately $25,000. CI Investments Inc. acquired a new position in Vestis in the third quarter worth approximately $28,000. Quarry LP acquired a new position in Vestis in the fourth quarter worth approximately $31,000. Finally, Groupama Asset Managment acquired a new position in Vestis in the fourth quarter worth approximately $34,000. Institutional investors and hedge funds own 97.40% of the company's stock.

Vestis Trading Up 0.5 %

VSTS stock traded up $0.09 during trading on Friday, hitting $18.67. The company had a trading volume of 715,457 shares, compared to its average volume of 1,624,889. The business has a 50 day moving average of $18.86 and a 200 day moving average of $18.57. Vestis has a fifty-two week low of $13.83 and a fifty-two week high of $22.37. The company has a debt-to-equity ratio of 1.73, a quick ratio of 2.23 and a current ratio of 2.61.

Vestis (NYSE:VSTS - Get Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $0.22 earnings per share for the quarter, missing analysts' consensus estimates of $0.23 by ($0.01). The business had revenue of $717.90 million for the quarter, compared to the consensus estimate of $724.72 million. Vestis's quarterly revenue was up 2.5% compared to the same quarter last year. On average, equities research analysts expect that Vestis will post 1.03 EPS for the current fiscal year.

Vestis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.75%.

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.