Brokerages Set Vestis Co. (NYSE:VSTS) PT at $22.56

Vestis Co. (NYSE:VSTS) has received a consensus rating of “Moderate Buy” from the nine research firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $22.56.

VSTS has been the subject of several research analyst reports. The Goldman Sachs Group began coverage on Vestis in a report on Thursday, January 25th. They set a “neutral” rating and a $22.00 price target for the company. Barclays lowered Vestis from an “equal weight” rating to an “underweight” rating and raised their price target for the stock from $17.00 to $19.00 in a research note on Wednesday, February 28th. Finally, Wolfe Research began coverage on Vestis in a research note on Thursday, January 11th. They set an “outperform” rating and a $24.00 price target for the company.

Vestis Trading Up 0.7 %

NYSE VSTS opened at $18.83 on Friday. The stock’s 50-day moving average price is $18.82 and its 200-day moving average price is $18.65. Vestis has a 52 week low of $13.83 and a 52 week high of $22.37. 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 (NYSE:VSTS) last issued its earnings results on Wednesday, February 7th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.01). The company had revenue of $717.90 million during the quarter, compared to the consensus estimate of $724.72 million. The business’s quarterly revenue was up 2.5% on a year-over-year basis. Equities research analysts predict that Vestis will post 1.03 EPS for the current year.

Vestis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were issued a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend was Thursday, March 14th.

Insider Activity

In other news, CEO Kim Scott acquired 15,000 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were acquired at an average cost of $19.14 per share, with a total value of $287,100.00. Following the completion of the acquisition, the chief executive officer now owns 183,131 shares of the company’s stock, valued at $3,505,127.34. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website.

Institutional Trading of Vestis

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. acquired a new stake in Vestis during the first quarter worth about $635,000. Allspring Global Investments Holdings LLC grew its holdings in Vestis by 2,290.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 101,064 shares of the company’s stock worth $1,948,000 after acquiring an additional 96,836 shares during the period. CWM LLC grew its holdings in Vestis by 1,958.5% during the first quarter. CWM LLC now owns 4,817 shares of the company’s stock worth $93,000 after acquiring an additional 4,583 shares during the period. Nomura Holdings Inc. acquired a new stake in Vestis during the fourth quarter worth about $29,995,000. Finally, PNC Financial Services Group Inc. acquired a new stake in Vestis during the fourth quarter worth about $65,000. 97.40% of the stock is 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.