Vestis Co. (NYSE:VSTS) Receives Average Rating of "Reduce" from Analysts

Vestis Co. (NYSE:VSTS - Get Free Report) has been assigned a consensus rating of "Reduce" from the six ratings firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $11.75.

Several equities research analysts recently issued reports on the stock. Robert W. Baird cut their target price on shares of Vestis from $17.00 to $13.00 and set a "neutral" rating for the company in a research note on Thursday, March 20th. The Goldman Sachs Group cut their price objective on Vestis from $15.00 to $13.00 and set a "neutral" rating for the company in a research report on Monday, March 17th. Finally, Barclays decreased their target price on Vestis from $10.00 to $5.00 and set an "underweight" rating on the stock in a report on Friday.

Insider Transactions at Vestis

In other news, Director Douglas A. Pertz acquired 70,000 shares of the firm's stock in a transaction on Thursday, May 8th. The shares were purchased at an average cost of $6.17 per share, with a total value of $431,900.00. Following the acquisition, the director now directly owns 297,010 shares in the company, valued at $1,832,551.70. This represents a 30.84 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 13.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Vestis

A number of hedge funds and other institutional investors have recently modified their holdings of VSTS. GAMMA Investing LLC boosted its stake in shares of Vestis by 17.9% in the fourth quarter. GAMMA Investing LLC now owns 4,670 shares of the company's stock valued at $71,000 after buying an additional 710 shares during the period. Gamco Investors INC. ET AL raised its holdings in Vestis by 2.0% in the 4th quarter. Gamco Investors INC. ET AL now owns 45,350 shares of the company's stock valued at $691,000 after acquiring an additional 875 shares in the last quarter. Copeland Capital Management LLC lifted its position in shares of Vestis by 33.0% during the 1st quarter. Copeland Capital Management LLC now owns 5,428 shares of the company's stock valued at $54,000 after acquiring an additional 1,346 shares during the period. Bank of Montreal Can grew its holdings in shares of Vestis by 11.1% during the 4th quarter. Bank of Montreal Can now owns 15,315 shares of the company's stock worth $233,000 after purchasing an additional 1,534 shares in the last quarter. Finally, Swiss National Bank increased its position in shares of Vestis by 0.7% in the fourth quarter. Swiss National Bank now owns 232,750 shares of the company's stock worth $3,547,000 after purchasing an additional 1,700 shares during the period. Institutional investors and hedge funds own 97.40% of the company's stock.

Vestis Stock Up 0.3 %

Shares of Vestis stock traded up $0.02 on Tuesday, reaching $6.29. 7,460,458 shares of the company were exchanged, compared to its average volume of 2,146,486. The company has a market capitalization of $828.68 million, a price-to-earnings ratio of 78.63 and a beta of 1.61. The company has a current ratio of 1.80, a quick ratio of 1.43 and a debt-to-equity ratio of 1.39. Vestis has a one year low of $5.20 and a one year high of $17.83. The company has a 50-day moving average of $9.18 and a 200 day moving average of $12.94.

Vestis (NYSE:VSTS - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.20). Vestis had a return on equity of 7.91% and a net margin of 0.34%. The firm had revenue of $665.25 million for the quarter, compared to the consensus estimate of $690.81 million. The firm's quarterly revenue was down 5.7% compared to the same quarter last year. On average, equities research analysts forecast that Vestis will post 0.7 earnings per share for the current year.

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.