Vestis (NYSE:VSTS) PT Lowered to $11.00

Vestis (NYSE:VSTS) had its price target lowered by stock analysts at The Goldman Sachs Group from $20.00 to $11.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 7.42% from the company’s current price.

VSTS has been the subject of several other research reports. Wolfe Research started coverage on Vestis in a research report on Thursday, January 11th. They set an “outperform” rating and a $24.00 price objective for the company. Robert W. Baird lowered their price target on shares of Vestis from $24.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. Stifel Nicolaus reissued a “hold” rating on shares of Vestis in a research note on Friday, May 3rd. JPMorgan Chase & Co. downgraded shares of Vestis from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $22.00 to $11.00 in a research note on Friday, May 3rd. Finally, Barclays dropped their price target on Vestis from $19.00 to $10.00 and set an “underweight” rating on the stock in a research report on Friday, May 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $16.38.

Vestis Stock Performance

Shares of NYSE VSTS opened at $10.24 on Monday. Vestis has a 1 year low of $8.92 and a 1 year high of $22.37. The company’s 50-day moving average is $18.00 and its 200 day moving average is $18.66. The company has a current ratio of 2.51, a quick ratio of 2.16 and a debt-to-equity ratio of 1.69.

Vestis (NYSE:VSTS) last posted its earnings results on Thursday, May 2nd. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.09). The business had revenue of $705.37 million during the quarter, compared to analysts’ expectations of $722.54 million. The company’s quarterly revenue was up .9% on a year-over-year basis. On average, analysts anticipate that Vestis will post 1.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other Vestis news, Director James Phillip Holloman bought 20,200 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was acquired at an average price of $9.93 per share, with a total value of $200,586.00. Following the transaction, the director now owns 44,132 shares in the company, valued at $438,230.76. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Kim Scott purchased 15,000 shares of the stock in a transaction dated Friday, February 9th. The shares were purchased at an average cost of $19.14 per share, with a total value of $287,100.00. Following the acquisition, the chief executive officer now directly owns 183,131 shares of the company’s stock, valued at $3,505,127.34. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James Phillip Holloman acquired 20,200 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was purchased at an average cost of $9.93 per share, with a total value of $200,586.00. Following the acquisition, the director now directly owns 44,132 shares of the company’s stock, valued at $438,230.76. The disclosure for this purchase can be found here.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of VSTS. Sound Income Strategies LLC purchased a new position in shares of Vestis during the 4th quarter worth $25,000. Parkside Financial Bank & Trust purchased a new position in Vestis during the fourth quarter valued at $25,000. CI Investments Inc. bought a new stake in Vestis during the third quarter valued at about $28,000. Daiwa Securities Group Inc. purchased a new stake in Vestis in the fourth quarter worth about $34,000. Finally, TFO Wealth Partners LLC bought a new position in shares of Vestis in the fourth quarter worth about $42,000. 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.