Vestis (NYSE:VSTS) Given New $5.00 Price Target at Barclays

Vestis (NYSE:VSTS) had its target price cut by Barclays from $10.00 to $5.00 in a research note issued to investors on Friday,Benzinga reports. They currently have an underweight rating on the stock.

A number of other research firms also recently issued reports on VSTS. Robert W. Baird lowered their price target on Vestis from $17.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday, March 20th. The Goldman Sachs Group cut their price target on shares of Vestis from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Monday, March 17th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $11.75.

Vestis Stock Performance

Shares of VSTS opened at $6.29 on Friday. Vestis has a 1 year low of $5.20 and a 1 year high of $17.83. The company’s 50 day simple moving average is $9.08 and its 200 day simple moving average is $12.88. The company has a market capitalization of $828.68 million, a price-to-earnings ratio of 78.63 and a beta of 1.61. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.43 and a current ratio of 1.80.

Vestis (NYSE:VSTS) last released its earnings results on Tuesday, May 6th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.20). Vestis had a return on equity of 7.91% and a net margin of 0.34%. The business had revenue of $665.25 million for the quarter, compared to analysts’ expectations of $690.81 million. The company’s revenue was down 5.7% compared to the same quarter last year. On average, sell-side analysts predict that Vestis will post 0.7 EPS for the current year.

Insiders Place Their Bets

In other Vestis news, Director Douglas A. Pertz purchased 70,000 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The shares were acquired at an average price of $6.17 per share, for a total transaction of $431,900.00. Following the completion of the purchase, the director now owns 297,010 shares in the company, valued at $1,832,551.70. The trade was a 30.84 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Vestis

Several institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC grew its holdings in Vestis by 17.9% during the 4th quarter. GAMMA Investing LLC now owns 4,670 shares of the company’s stock worth $71,000 after acquiring an additional 710 shares in the last quarter. Gamco Investors INC. ET AL boosted its holdings in shares of Vestis by 2.0% in the 4th quarter. Gamco Investors INC. ET AL now owns 45,350 shares of the company’s stock valued at $691,000 after buying an additional 875 shares during the period. Copeland Capital Management LLC boosted its holdings in shares of Vestis by 33.0% in the 1st quarter. Copeland Capital Management LLC now owns 5,428 shares of the company’s stock valued at $54,000 after buying an additional 1,346 shares during the period. Bank of Montreal Can raised its stake in Vestis by 11.1% during the fourth quarter. Bank of Montreal Can now owns 15,315 shares of the company’s stock worth $233,000 after acquiring an additional 1,534 shares during the period. Finally, Swiss National Bank lifted its holdings in Vestis by 0.7% in the fourth quarter. Swiss National Bank now owns 232,750 shares of the company’s stock worth $3,547,000 after acquiring an additional 1,700 shares during the last quarter. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

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.