Vestis (NYSE:VSTS) Price Target Cut to $5.00 by Analysts at Barclays

Vestis (NYSE:VSTS - Free Report) had its price target decreased by Barclays from $10.00 to $5.00 in a research report report published on Friday morning,Benzinga reports. Barclays currently has an underweight rating on the stock.

A number of other brokerages have also weighed in on VSTS. The Goldman Sachs Group cut their price target on shares of Vestis from $15.00 to $13.00 and set a "neutral" rating on the stock in a research note on Monday, March 17th. Robert W. Baird lowered their price objective on shares of Vestis from $17.00 to $13.00 and set a "neutral" rating on the stock in a report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $11.75.

Vestis Trading Up 4.5%

Shares of NYSE:VSTS traded up $0.29 during mid-day trading on Friday, reaching $6.58. The stock had a trading volume of 4,131,154 shares, compared to its average volume of 2,149,610. The firm has a market cap of $866.47 million, a PE ratio of 82.20 and a beta of 1.61. The firm has a 50 day simple moving average of $9.08 and a two-hundred day simple moving average of $12.86. 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 twelve month low of $5.20 and a twelve month high of $17.83.

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

Insider Buying and Selling

In other news, Director Douglas A. Pertz bought 70,000 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were acquired at an average cost of $6.17 per share, for a total transaction of $431,900.00. Following the completion of the acquisition, the director now owns 297,010 shares in the company, valued at approximately $1,832,551.70. This represents a 30.84% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO William J. Seward acquired 10,000 shares of Vestis stock in a transaction on Thursday, May 8th. The shares were bought at an average cost of $6.23 per share, with a total value of $62,300.00. Following the completion of the transaction, the chief operating officer now owns 130,862 shares of the company's stock, valued at approximately $815,270.26. This trade represents a 8.27% increase in their ownership of the stock. The disclosure for this purchase can be found here. 13.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Vestis

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its position 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 acquiring an additional 710 shares during the period. Gamco Investors INC. ET AL boosted its position in shares of Vestis by 2.0% in the fourth 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 during the period. Copeland Capital Management LLC boosted its position in shares of Vestis by 33.0% in the first 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 boosted its position in shares of Vestis by 11.1% in the fourth quarter. Bank of Montreal Can now owns 15,315 shares of the company's stock valued at $233,000 after acquiring an additional 1,534 shares during the period. Finally, Swiss National Bank boosted 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 valued at $3,547,000 after acquiring an additional 1,700 shares during the period. 97.40% of the stock is owned by institutional investors.

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.