Vestis Co. (NYSE:VSTS) receives consensus price target of $22.56 from brokers

Shares of Vestis Co. (NYSE:VSTS – Get Free Report) have received a consensus recommendation of “Moderate Buy” from the nine rating agencies that cover the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. The average one-year price target among brokers who updated their coverage of the stock in the past year is $22.56.

A number of analysts have recently issued reports on VSTS stock. Wolfe Research began reporting on Vestis in a research report on Thursday, January 11. They issued an “outperform” rating and a $24.00 price target for the company. Barclays downgraded Vestis from an “equalweight” rating to an “underweight” rating and raised their target price for the stock from $17.00 to $19.00 in a research report on Wednesday, February 28. Finally, The Goldman Sachs Group covered Vestis in a research report on Thursday, January 25th. They set a “neutral” rating and a target price of $22.00 for the company.

Read our latest report on VSTS

Insider activity at Vestis

In other news, CEO Kim Scott acquired 15,000 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were purchased at an average cost of $19.14 per share, for a total transaction of $287,100.00. Following the completion of the acquisition, the CEO now directly owns 183,131 shares of the company’s stock, valued at approximately $3,505,127.34. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this link.

Hedge funds weigh heavily on Vestis

Several institutional investors and hedge funds have recently increased or decreased their stakes in VSTS. Strs Ohio bought a new position in Vestis in the third quarter worth approximately $359,000. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of Vestis in the third quarter worth approximately $1,318,000. Wolverine Asset Management LLC bought a new stake in shares of Vestis during the third quarter valued at approximately $2,412,000. CI Investments Inc. bought a new stake in Vestis stock worth approximately $28,000 in the third quarter. Finally, Soros Fund Management LLC bought a new stake in shares of Vestis in the 3rd quarter worth approximately $14,714,000. Hedge funds and other institutional investors own 97.40% of the company’s shares.

Vestis Price Performance

VSTS shares opened at $18.66 on Friday. The company has a quick ratio of 2.23, a current ratio of 2.61 and a debt-to-equity ratio of 1.73. Vestis has a 1-year low of $13.83 and a 1-year high of $22.37. The company has a 50-day simple moving average of $18.86 and a two-hundred-day simple moving average of $18.60.

Vestis (NYSE:VSTS – Get Free Report) posted its latest earnings results on Wednesday, February 7. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by ($0.01). The company had revenue of $717.90 million for the quarter, compared to analyst expectations of $724.72 million. The company’s revenue for the quarter increased 2.5% compared to the same quarter last year. Sell-side analysts expect Vestis to post 1.03 earnings per share for the current year.

Dividend announcement from Vestis

The company also recently announced a quarterly dividend, which was paid on Thursday, April 4. Well-known investors on Friday, March 15 received a dividend of $0.035. The ex-dividend date was Thursday, March 14. This represents a dividend of $0.14 annually and a dividend yield of 0.75%.

Vestis company profile

(Get a free report

Vestis Corporation rents uniforms and workplace supplies in the United States and Canada. The products include uniform options, such as shirts, pants, outerwear, jackets, scrubs, high-visibility clothing, particulate-free clothing and flame-resistant clothing, as well as shoes and accessories; and workplace supplies, including managed toilet facility services, first aid supplies and safety products, floor mats, towels and bedding.

Also see

Receive daily news and reviews for Vestis – Enter your email address below and receive a daily summary of the latest news and analyst ratings for Vestis and related companies with MarketBeat.com’s FREE daily email newsletter.