The Goldman Sachs Group Raises Vestis (NYSE:VSTS) Price Target to $13.80

Vestis (NYSE:VSTS) had its price target hoisted by The Goldman Sachs Group from $12.50 to $13.80 in a research note released on Tuesday, Benzinga reports. The firm currently has a neutral rating on the stock.

VSTS has been the subject of several other research reports. Baird R W downgraded Vestis from a strong-buy rating to a hold rating in a report on Thursday, August 8th. Robert W. Baird cut Vestis from an outperform rating to a neutral rating and set a $13.00 price target for the company. in a research report on Thursday, August 8th. JPMorgan Chase & Co. cut Vestis from an overweight rating to a neutral rating and reduced their price objective for the stock from $22.00 to $11.00 in a research note on Friday, May 3rd. Stifel Nicolaus restated a hold rating on shares of Vestis in a research report on Friday, May 3rd. Finally, Barclays decreased their price target on Vestis from $19.00 to $10.00 and set an underweight rating for the company in a report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Vestis currently has a consensus rating of Hold and an average target price of $16.69.

Vestis Stock Down 1.6 %

Shares of NYSE:VSTS opened at $13.21 on Tuesday. The company has a current ratio of 2.37, a quick ratio of 2.02 and a debt-to-equity ratio of 1.67. Vestis has a 12 month low of $8.92 and a 12 month high of $22.37. The firm’s 50-day moving average is $12.39 and its 200 day moving average is $15.16.

Vestis (NYSE:VSTS) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.10 by $0.06. Vestis had a net margin of 4.13% and a return on equity of 18.00%. The company had revenue of $698.20 million for the quarter, compared to the consensus estimate of $688.33 million. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. As a group, sell-side analysts expect that Vestis will post 0.64 earnings per share for the current fiscal year.

Vestis Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Friday, September 13th will be paid a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend is Friday, September 13th.

Insider Activity at Vestis

In related news, Director Douglas A. Pertz bought 22,442 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was purchased at an average price of $11.62 per share, for a total transaction of $260,776.04. Following the acquisition, the director now owns 218,046 shares of the company’s stock, valued at $2,533,694.52. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Parkside Financial Bank & Trust acquired a new stake in Vestis in the 4th quarter valued at about $25,000. Daiwa Securities Group Inc. acquired a new stake in Vestis in the fourth quarter valued at approximately $34,000. Wahed Invest LLC purchased a new position in Vestis in the fourth quarter worth approximately $42,000. TFO Wealth Partners LLC purchased a new stake in shares of Vestis during the 4th quarter worth $42,000. Finally, PNC Financial Services Group Inc. purchased a new stake in Vestis during the 4th quarter worth about $65,000. 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.