Vestis (NYSE:VSTS) Sets New 52-Week High - Time to Buy?

Key Points

• Vestis hit a new 52-week high, trading as high as $9.91 and last at $9.8660 on volume of 223,850 shares.
• Analyst sentiment is overwhelmingly negative — the consensus rating is "Strong Sell" with an average price target of $5.88 (one Hold, four Sell ratings; Goldman Sachs raised its target to $6 but still rates the stock Sell).
• Fundamentals are mixed: the company beat EPS estimates ($0.10 vs. $0.06) but revenue missed and was down 3% year-over-year, net margin was negative (-1.75%), and institutional investors own roughly 97.4% of the stock.

Vestis Corporation (NYSE:VSTS - Get Free Report) hit a new 52-week high on Friday . The company traded as high as $9.91 and last traded at $9.8660, with a volume of 223850 shares trading hands. The stock had previously closed at $9.48.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Barclays reiterated an "underweight" rating on shares of Vestis in a research note on Tuesday, February 17th. Weiss Ratings reiterated a "sell (d)" rating on shares of Vestis in a research note on Wednesday, January 21st. Finally, The Goldman Sachs Group boosted their price objective on Vestis from $5.30 to $6.00 and gave the company a "sell" rating in a research note on Wednesday, February 11th. One research analyst has rated the stock with a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Strong Sell" and an average target price of $5.88.

Vestis Stock Performance

The company has a market cap of $1.30 billion, a PE ratio of -26.69 and a beta of 0.40. 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 stock has a 50 day simple moving average of $7.90 and a two-hundred day simple moving average of $6.69.

Vestis (NYSE:VSTS - Get Free Report) last released its earnings results on Tuesday, February 10th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.04. The business had revenue of $663.39 million for the quarter, compared to analyst estimates of $665.77 million. Vestis had a positive return on equity of 2.08% and a negative net margin of 1.75%.The company's revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 earnings per share. Equities analysts predict that Vestis Corporation will post 0.7 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC increased its holdings in shares of Vestis by 147.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 5,175 shares of the company's stock valued at $35,000 after purchasing an additional 3,082 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of Vestis by 176.1% in the fourth quarter. Farther Finance Advisors LLC now owns 5,193 shares of the company's stock valued at $35,000 after purchasing an additional 3,312 shares during the period. Eurizon Capital SGR S.p.A. acquired a new position in shares of Vestis in the fourth quarter valued at approximately $36,000. EverSource Wealth Advisors LLC increased its holdings in shares of Vestis by 471.9% in the second quarter. EverSource Wealth Advisors LLC now owns 5,456 shares of the company's stock valued at $31,000 after purchasing an additional 4,502 shares during the period. Finally, Osaic Holdings Inc. increased its holdings in shares of Vestis by 703.2% in the second quarter. Osaic Holdings Inc. now owns 5,743 shares of the company's stock valued at $33,000 after purchasing an additional 5,028 shares during the period. Institutional investors and hedge funds own 97.40% of the company's stock.

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.

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