Vestis Co. (NYSE:VSTS) Given Consensus Rating of “Hold” by Analysts

Vestis Co. (NYSE:VSTS) has been assigned a consensus rating of “Hold” from the eleven brokerages that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $16.69.

VSTS has been the subject of several recent analyst reports. The Goldman Sachs Group upped their price objective on Vestis from $12.50 to $13.80 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Baird R W downgraded shares of Vestis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, Robert W. Baird cut shares of Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 price objective for the company. in a research report on Thursday, August 8th.

Institutional Trading of Vestis

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. bought a new stake in shares of Vestis in the 4th quarter valued at about $302,586,000. AQR Capital Management LLC boosted its holdings in Vestis by 223.0% in the second quarter. AQR Capital Management LLC now owns 3,753,889 shares of the company’s stock valued at $45,197,000 after acquiring an additional 2,591,593 shares during the last quarter. Wellington Management Group LLP acquired a new stake in Vestis during the 4th quarter valued at approximately $56,431,000. Dimensional Fund Advisors LP raised its holdings in Vestis by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,541,710 shares of the company’s stock worth $18,854,000 after purchasing an additional 8,997 shares during the last quarter. Finally, Nomura Holdings Inc. acquired a new position in shares of Vestis in the 4th quarter worth approximately $29,995,000. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Vestis Stock Up 0.9 %

VSTS stock opened at $15.24 on Friday. The company’s 50-day moving average price is $14.43 and its two-hundred day moving average price is $13.97. Vestis has a 12 month low of $8.92 and a 12 month high of $22.37. The company has a debt-to-equity ratio of 1.67, a current ratio of 2.37 and a quick ratio of 2.02.

Vestis (NYSE:VSTS) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.10 by $0.06. The business had revenue of $698.20 million during the quarter, compared to the consensus estimate of $688.33 million. Vestis had a net margin of 4.13% and a return on equity of 18.00%. Vestis’s quarterly revenue was down 1.6% on a year-over-year basis. On average, analysts predict that Vestis will post 0.64 EPS for the current year.

Vestis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Friday, September 13th were paid a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 0.92%. The ex-dividend date was Friday, September 13th.

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.