Stifel Nicolaus Reaffirms “Hold” Rating for Vestis (NYSE:VSTS)

Vestis (NYSE:VSTS)‘s stock had its “hold” rating reissued by Stifel Nicolaus in a note issued to investors on Friday, Marketbeat reports.

Other analysts have also issued reports about the company. Barclays cut their price target on Vestis from $19.00 to $10.00 and set an “underweight” rating on the stock in a research note on Friday. The Goldman Sachs Group assumed coverage on Vestis in a research report on Thursday, January 25th. They issued a “neutral” rating and a $22.00 price objective on the stock. JPMorgan Chase & Co. cut Vestis from an “overweight” rating to a “neutral” rating and cut their price target for the company from $22.00 to $11.00 in a report on Friday. Wolfe Research began coverage on shares of Vestis in a research report on Thursday, January 11th. They set an “outperform” rating and a $24.00 target price for the company. Finally, Robert W. Baird decreased their target price on shares of Vestis from $24.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $19.33.

Vestis Price Performance

Vestis stock traded down $0.77 during midday trading on Friday, reaching $9.40. 24,763,820 shares of the stock traded hands, compared to its average volume of 2,154,511. The company has a debt-to-equity ratio of 1.73, a quick ratio of 2.23 and a current ratio of 2.61. The company has a 50-day simple moving average of $18.60 and a two-hundred day simple moving average of $18.71. Vestis has a 12-month low of $8.92 and a 12-month high of $22.37.

Vestis (NYSE:VSTS) last issued its earnings results on Thursday, May 2nd. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.09). The firm had revenue of $705.37 million during the quarter, compared to the consensus estimate of $722.54 million. The firm’s revenue for the quarter was up .9% on a year-over-year basis. Analysts expect that Vestis will post 1.03 earnings per share for the current year.

Insider Buying and Selling at Vestis

In other news, CEO Kim Scott purchased 15,000 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was acquired at an average price of $19.14 per share, for a total transaction of $287,100.00. Following the acquisition, the chief executive officer now directly owns 183,131 shares of the company’s stock, valued at $3,505,127.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. bought a new position in shares of Vestis in the fourth quarter worth about $302,586,000. Capital International Investors bought a new stake in shares of Vestis during the fourth quarter worth approximately $125,586,000. Channing Capital Management LLC bought a new stake in shares of Vestis during the 4th quarter worth $72,529,000. Wellington Management Group LLP acquired a new position in shares of Vestis during the fourth quarter worth $56,431,000. Finally, Victory Capital Management Inc. bought a new position in shares of Vestis during the 4th quarter worth approximately $48,292,000. Institutional investors and hedge funds own 97.40% of the company’s stock.

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.