Vestis Corporation (NYSE:VSTS) Given Consensus Recommendation of "Reduce" by Analysts

Key Points

• Analysts collectively rate Vestis “Reduce.” Of eight analysts, four recommend selling, three recommend holding, and one recommends buying; the average 12-month price target is $12.66.
• Vestis shares recently traded at $12.74, below their 50-day moving average of $14.24 but above the 200-day average of $11.06. The stock has ranged from $3.98 to $16.90 over the past year.
• The company exceeded quarterly earnings expectations, reporting $0.18 in EPS versus a $0.10 consensus estimate, although revenue of $661.66 million came in below analysts’ $668.94 million forecast.

Vestis Corporation (NYSE:VSTS - Get Free Report) has earned an average rating of "Reduce" from the eight research firms that are covering the stock, MarketBeat reports. Four analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $12.66.

Several analysts recently issued reports on VSTS shares. The Goldman Sachs Group increased their price target on Vestis from $8.20 to $9.30 and gave the company a "sell" rating in a report on Tuesday, August 11th. Stifel Nicolaus increased their target price on Vestis from $11.00 to $14.00 and gave the company a "hold" rating in a research note on Wednesday, August 12th. Robert W. Baird boosted their price target on Vestis from $15.00 to $16.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 12th. Barclays increased their price objective on shares of Vestis from $9.00 to $11.00 and gave the company an "underweight" rating in a research report on Wednesday, August 12th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Vestis from $11.00 to $13.00 and gave the stock an "underweight" rating in a research report on Thursday, August 13th.

Vestis Price Performance

VSTS stock traded up $0.05 during midday trading on Monday, hitting $12.74. 124,695 shares of the stock were exchanged, compared to its average volume of 1,619,890. The stock's 50-day moving average price is $14.24 and its 200-day moving average price is $11.06. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.75 and a current ratio of 2.17. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of -254.55 and a beta of 0.97. Vestis has a fifty-two week low of $3.98 and a fifty-two week high of $16.90.

Vestis (NYSE:VSTS - Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.10 by $0.08. Vestis had a positive return on equity of 7.27% and a negative net margin of 0.20%.The company had revenue of $661.66 million during the quarter, compared to analysts' expectations of $668.94 million. Research analysts predict that Vestis will post 0.62 earnings per share for the current year.

Hedge Funds Weigh In On Vestis

Several large investors have recently modified their holdings of the stock. State of Wyoming increased its holdings in shares of Vestis by 10.4% during the 4th quarter. State of Wyoming now owns 15,145 shares of the company's stock valued at $101,000 after acquiring an additional 1,428 shares during the last quarter. Quantinno Capital Management LP boosted its position in Vestis by 2.1% during the first quarter. Quantinno Capital Management LP now owns 86,042 shares of the company's stock worth $676,000 after purchasing an additional 1,756 shares during the period. HB Wealth Management LLC boosted its position in Vestis by 16.2% during the second quarter. HB Wealth Management LLC now owns 15,270 shares of the company's stock worth $222,000 after purchasing an additional 2,132 shares during the period. Captrust Financial Advisors grew its holdings in Vestis by 15.6% during the second quarter. Captrust Financial Advisors now owns 20,599 shares of the company's stock valued at $118,000 after purchasing an additional 2,787 shares during the last quarter. Finally, Philadelphia Investment Partners LLC acquired a new stake in shares of Vestis in the second quarter worth $47,000. 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. The company serves manufacturing, hospitality, retail, food processing, food service, pharmaceuticals, healthcare, automotive, and cleanroom industries.

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