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

Key Points

• Vestis has a consensus “Reduce” rating from eight analysts, including four sells and two holds; the average 12-month price target is $9.50.
• Recent analyst views were mixed, with upgrades from Zacks Research and William Blair, while Barclays maintained an underweight rating despite raising its target to $9.00.
• Vestis shares fell 1.7% to $14.67, even after the company beat quarterly EPS and revenue expectations; institutional investors own 97.4% of the stock.

Shares of Vestis Corporation (NYSE:VSTS - Get Free Report) have been assigned a consensus rating of "Reduce" from the eight research firms that are currently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a sell recommendation, two have given a hold recommendation, one has assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $9.50.

A number of brokerages have issued reports on VSTS. Zacks Research upgraded Vestis from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 10th. Robert W. Baird lifted their target price on shares of Vestis from $10.00 to $14.00 and gave the company a "neutral" rating in a report on Wednesday, May 13th. Barclays upped their price target on Vestis from $6.00 to $9.00 and gave the stock an "underweight" rating in a report on Friday, May 15th. Weiss Ratings lowered shares of Vestis from a "sell (d)" rating to a "sell (d-)" rating in a research note on Wednesday, May 13th. Finally, William Blair upgraded shares of Vestis from a "market perform" rating to an "outperform" rating in a research note on Tuesday, May 12th.

Hedge Funds Weigh In On Vestis

Several hedge funds have recently bought and sold shares of VSTS. EverSource Wealth Advisors LLC grew its holdings in Vestis by 471.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,456 shares of the company's stock valued at $31,000 after buying an additional 4,502 shares during the last quarter. Osaic Holdings Inc. raised its holdings in shares of Vestis by 703.2% during the 2nd quarter. Osaic Holdings Inc. now owns 5,743 shares of the company's stock valued at $33,000 after buying an additional 5,028 shares during the period. Farther Finance Advisors LLC boosted its position in Vestis by 176.1% in the 4th quarter. Farther Finance Advisors LLC now owns 5,193 shares of the company's stock valued at $35,000 after buying an additional 3,312 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Vestis by 147.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,175 shares of the company's stock worth $35,000 after buying an additional 3,082 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new position in Vestis during the 4th quarter worth approximately $36,000. 97.40% of the stock is owned by hedge funds and other institutional investors.

Vestis Stock Down 1.7%

Shares of VSTS stock traded down $0.25 during mid-day trading on Thursday, hitting $14.67. 135,482 shares of the stock traded hands, compared to its average volume of 1,638,255. The stock has a market cap of $1.94 billion, a P/E ratio of -104.74 and a beta of 0.98. Vestis has a 52-week low of $3.98 and a 52-week high of $16.90. The company has a debt-to-equity ratio of 1.44, a current ratio of 2.13 and a quick ratio of 1.69. The stock's fifty day moving average is $13.87 and its two-hundred day moving average is $10.21.

Vestis (NYSE:VSTS - Get Free Report) last posted its quarterly earnings data on Tuesday, May 12th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.07. The firm had revenue of $659.44 million for the quarter, compared to the consensus estimate of $655.32 million. Vestis had a negative net margin of 0.63% and a positive return on equity of 5.27%. The company's revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.05) earnings per share. Equities analysts predict that Vestis will post 0.52 EPS for the current year.

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. The company serves manufacturing, hospitality, retail, food processing, food service, pharmaceuticals, healthcare, automotive, and cleanroom industries.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.