Analysts Set Vestis Corporation (NYSE:VSTS) Target Price at $9.13

Shares of Vestis Corporation (NYSE:VSTS) have earned an average recommendation of “Strong Sell” from the five ratings firms that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a sell rating and two have given a hold rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $9.1250.

Several analysts have issued reports on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Vestis in a report on Wednesday. Wall Street Zen raised shares of Vestis from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Vestis from $6.00 to $5.50 and set an “underweight” rating on the stock in a report on Thursday, August 7th.

Vestis Trading Down 1.4%

Shares of VSTS opened at $5.00 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.42 and a debt-to-equity ratio of 1.45. The firm’s 50-day moving average is $4.65 and its two-hundred day moving average is $6.18. Vestis has a twelve month low of $3.98 and a twelve month high of $17.83. The firm has a market capitalization of $659.20 million, a P/E ratio of -21.74 and a beta of 0.97.

Vestis (NYSE:VSTS) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.05. Vestis had a negative net margin of 1.11% and a positive return on equity of 3.76%. The company had revenue of $673.80 million for the quarter, compared to the consensus estimate of $673.65 million. During the same quarter in the prior year, the firm earned $0.16 earnings per share. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. On average, research analysts predict that Vestis will post 0.7 earnings per share for the current fiscal year.

Institutional Trading of Vestis

Several institutional investors and hedge funds have recently modified their holdings of VSTS. Alberta Investment Management Corp lifted its holdings in shares of Vestis by 57.7% in the second quarter. Alberta Investment Management Corp now owns 9,692,000 shares of the company’s stock valued at $55,535,000 after purchasing an additional 3,547,000 shares in the last quarter. Royce & Associates LP lifted its stake in shares of Vestis by 196.2% during the first quarter. Royce & Associates LP now owns 2,842,936 shares of the company’s stock valued at $28,145,000 after buying an additional 1,883,106 shares during the period. Jane Street Group LLC lifted its stake in shares of Vestis by 700.5% during the first quarter. Jane Street Group LLC now owns 1,982,027 shares of the company’s stock valued at $19,622,000 after buying an additional 1,734,442 shares during the period. AQR Capital Management LLC lifted its stake in shares of Vestis by 49.4% during the first quarter. AQR Capital Management LLC now owns 4,669,670 shares of the company’s stock valued at $45,950,000 after buying an additional 1,544,001 shares during the period. Finally, Stanley Capital Management LLC lifted its stake in shares of Vestis by 163.6% during the first quarter. Stanley Capital Management LLC now owns 2,191,107 shares of the company’s stock valued at $21,692,000 after buying an additional 1,359,807 shares during the period. Hedge funds and other institutional investors 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.