Vestis (NYSE:VSTS) Stock Price Expected to Rise, Barclays Analyst Says

Vestis (NYSE:VSTS) had its target price increased by investment analysts at Barclays from $10.00 to $13.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Barclays‘s price target points to a potential downside of 16.77% from the company’s current price.

A number of other research analysts also recently issued reports on VSTS. Baird R W downgraded Vestis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 8th. Robert W. Baird lowered shares of 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. Finally, The Goldman Sachs Group increased their price objective on shares of Vestis from $12.50 to $13.80 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $16.65.

Vestis Price Performance

NYSE VSTS opened at $15.62 on Friday. The business’s fifty day moving average is $14.58 and its 200 day moving average is $13.26. Vestis has a fifty-two week low of $8.92 and a fifty-two week high of $22.37. The company has a current ratio of 2.37, a quick ratio of 2.02 and a debt-to-equity ratio of 1.67.

Institutional Trading of Vestis

Institutional investors and hedge funds have recently bought and sold shares of the stock. Barclays PLC grew its position in shares of Vestis by 445.4% during the third quarter. Barclays PLC now owns 51,981 shares of the company’s stock valued at $774,000 after purchasing an additional 42,450 shares in the last quarter. M&T Bank Corp purchased a new position in Vestis during the 3rd quarter valued at approximately $169,000. Public Employees Retirement System of Ohio grew its holdings in Vestis by 105.2% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 122,255 shares of the company’s stock valued at $1,822,000 after buying an additional 62,675 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its stake in Vestis by 104.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,000 shares of the company’s stock worth $30,000 after acquiring an additional 1,020 shares during the last quarter. Finally, Weiss Asset Management LP bought a new position in shares of Vestis during the 3rd quarter valued at approximately $1,232,000. 97.40% of the stock is currently owned by 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.