Vestis (NYSE:VSTS) Given New $13.00 Price Target at The Goldman Sachs Group

Vestis (NYSE:VSTS) had its price objective lowered by The Goldman Sachs Group from $15.00 to $13.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other research analysts also recently commented on VSTS. JPMorgan Chase & Co. raised their price target on shares of Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Barclays raised their price target on shares of Vestis from $10.00 to $13.00 and gave the stock an “underweight” rating in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $13.68.

Vestis Trading Down 5.2 %

VSTS stock opened at $10.36 on Monday. The company has a market capitalization of $1.36 billion, a PE ratio of 129.45 and a beta of 1.40. Vestis has a 12 month low of $8.92 and a 12 month high of $19.76. The firm’s 50-day moving average is $13.64 and its 200 day moving average is $14.59. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.80 and a quick ratio of 1.43.

Vestis (NYSE:VSTS) last posted its quarterly earnings results on Friday, January 31st. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.12 by $0.02. Vestis had a net margin of 0.34% and a return on equity of 7.91%. During the same period in the prior year, the firm posted $0.22 EPS. On average, research analysts anticipate that Vestis will post 0.7 EPS for the current year.

Vestis Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Friday, February 21st were issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 1.35%. The ex-dividend date was Friday, February 21st. Vestis’s payout ratio is 175.00%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. bought a new stake in shares of Vestis in the 4th quarter valued at about $210,766,000. AQR Capital Management LLC boosted its holdings in shares of Vestis by 47.4% in the 4th quarter. AQR Capital Management LLC now owns 3,125,669 shares of the company’s stock valued at $47,635,000 after buying an additional 1,004,497 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Vestis by 46.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,095,278 shares of the company’s stock valued at $47,172,000 after buying an additional 980,303 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Vestis by 179.4% in the 4th quarter. Millennium Management LLC now owns 3,003,762 shares of the company’s stock valued at $45,777,000 after buying an additional 1,928,687 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of Vestis by 2.3% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,691,476 shares of the company’s stock valued at $41,018,000 after buying an additional 59,824 shares in the last quarter. 97.40% of the stock is currently owned by institutional investors.

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.