Vestis Corporation (NYSE:VSTS) Receives Consensus Rating of "Strong Sell" from Analysts

Key Points

• Vestis has received an average recommendation of Strong Sell from five analysts (four sell, one hold), with a 12‑month average target price of about $5.88.
• In the latest quarter Vestis reported EPS of $0.10 (beating the $0.06 estimate) but revenue of $663.4M slightly missed expectations and the company posted a negative net margin of -1.75% with revenue down 3% year‑over‑year.
• Shares opened at $10.20 (near a 1‑year high of $10.29 vs a low of $3.98), the company has a market cap of roughly $1.35B and a negative PE (-27.55), and institutional investors own about 97.4% of the stock.

Vestis Corporation (NYSE:VSTS - Get Free Report) has received an average recommendation of "Strong Sell" from the five analysts that are presently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a sell recommendation and one has issued a hold recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $5.8750.

Several research analysts have recently issued reports on the stock. The Goldman Sachs Group upped their target price on shares of Vestis from $5.30 to $6.00 and gave the stock a "sell" rating in a research note on Wednesday, February 11th. Weiss Ratings restated a "sell (d)" rating on shares of Vestis in a report on Wednesday, January 21st. Finally, Barclays reiterated an "underweight" rating on shares of Vestis in a research note on Tuesday, February 17th.

Vestis Price Performance

Shares of NYSE:VSTS opened at $10.20 on Tuesday. The business has a fifty day moving average price of $8.01 and a 200-day moving average price of $6.80. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.17 and a quick ratio of 1.74. The company has a market capitalization of $1.35 billion, a PE ratio of -27.55 and a beta of 0.40. Vestis has a 1-year low of $3.98 and a 1-year high of $10.29.

Vestis (NYSE:VSTS - Get Free Report) last announced its quarterly earnings results on Tuesday, February 10th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.06 by $0.04. The company had revenue of $663.39 million for the quarter, compared to analysts' expectations of $665.77 million. Vestis had a negative net margin of 1.75% and a positive return on equity of 2.08%. Vestis's revenue was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.14 EPS. As a group, equities analysts expect that Vestis will post 0.43 EPS for the current fiscal year.

Hedge Funds Weigh In On Vestis

A number of institutional investors and hedge funds have recently bought and sold shares of the business. State of Wyoming increased its position in shares of Vestis by 10.4% in the 4th quarter. State of Wyoming now owns 15,145 shares of the company's stock valued at $101,000 after purchasing an additional 1,428 shares during the last quarter. Abacus Planning Group Inc. raised its stake in Vestis by 8.9% in the third quarter. Abacus Planning Group Inc. now owns 28,058 shares of the company's stock valued at $127,000 after buying an additional 2,294 shares in the last quarter. Captrust Financial Advisors lifted its holdings in Vestis by 15.6% during the 2nd quarter. Captrust Financial Advisors now owns 20,599 shares of the company's stock worth $118,000 after buying an additional 2,787 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Vestis by 147.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 5,175 shares of the company's stock worth $35,000 after acquiring an additional 3,082 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of 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 acquiring an additional 3,312 shares during the last quarter. 97.40% of the stock is currently owned by institutional investors and hedge funds.

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.