The Goldman Sachs Group Cuts Vestis (NYSE:VSTS) Price Target to $13.00

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

A number of other equities analysts have also weighed in on the stock. Barclays upped their target price on shares of Vestis from $10.00 to $13.00 and gave the stock an “underweight” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. upped their target price on shares of Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $13.68.

Vestis Stock Performance

VSTS opened at $10.36 on Monday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.80 and a quick ratio of 1.43. The company has a 50 day simple moving average of $13.64 and a two-hundred day simple moving average of $14.59. Vestis has a 1-year low of $8.92 and a 1-year high of $19.76. The firm has a market cap of $1.36 billion, a P/E ratio of 129.45 and a beta of 1.40.

Vestis (NYSE:VSTS) last issued its earnings results on Friday, January 31st. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter last year, the business earned $0.22 earnings per share. Equities analysts forecast that Vestis will post 0.7 earnings per share for the current fiscal year.

Vestis Announces Dividend

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

Institutional Investors Weigh In On Vestis

Hedge funds have recently bought and sold shares of the business. HighTower Advisors LLC raised its stake in Vestis by 223.0% during the third quarter. HighTower Advisors LLC now owns 361,348 shares of the company’s stock valued at $5,386,000 after purchasing an additional 249,479 shares in the last quarter. LMR Partners LLP raised its stake in shares of Vestis by 726.8% in the third quarter. LMR Partners LLP now owns 160,528 shares of the company’s stock valued at $2,392,000 after acquiring an additional 141,113 shares during the period. Annex Advisory Services LLC raised its stake in shares of Vestis by 13.5% in the fourth quarter. Annex Advisory Services LLC now owns 293,899 shares of the company’s stock valued at $4,479,000 after acquiring an additional 34,951 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of Vestis in the fourth quarter valued at $185,000. Finally, Ieq Capital LLC raised its stake in shares of Vestis by 689.7% in the fourth quarter. Ieq Capital LLC now owns 160,671 shares of the company’s stock valued at $2,449,000 after acquiring an additional 140,324 shares during the period. Hedge funds and other institutional investors own 97.40% of the company’s stock.

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.