Vestis (NYSE:VSTS) Price Target Raised to $13.00

Vestis (NYSE:VSTS) had its price objective increased by Barclays from $10.00 to $13.00 in a report released on Friday,Benzinga reports. The firm currently has an “underweight” rating on the stock. Barclays‘s target price points to a potential downside of 16.77% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. Robert W. Baird lowered shares of Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 target price for the company. in a report on Thursday, August 8th. The Goldman Sachs Group increased their price target on Vestis from $12.50 to $13.80 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Finally, Baird R W cut Vestis from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Vestis has a consensus rating of “Hold” and an average target price of $16.65.

Vestis Stock Up 17.4 %

Shares of VSTS stock opened at $15.62 on Friday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 2.02 and a current ratio of 2.37. The stock’s 50 day simple moving average is $14.58 and its two-hundred day simple moving average is $13.26. Vestis has a 1 year low of $8.92 and a 1 year high of $22.37.

Institutional Investors Weigh In On Vestis

Several hedge funds have recently made changes to their positions in VSTS. Sei Investments Co. increased its stake in shares of Vestis by 22.7% during the first quarter. Sei Investments Co. now owns 115,628 shares of the company’s stock valued at $2,228,000 after buying an additional 21,414 shares during the period. UniSuper Management Pty Ltd purchased a new position in Vestis during the 1st quarter valued at about $517,000. Gamco Investors INC. ET AL raised its holdings in shares of Vestis by 16.2% in the 1st quarter. Gamco Investors INC. ET AL now owns 81,125 shares of the company’s stock valued at $1,563,000 after purchasing an additional 11,330 shares in the last quarter. Keeley Teton Advisors LLC lifted its position in shares of Vestis by 71.5% in the 1st quarter. Keeley Teton Advisors LLC now owns 27,960 shares of the company’s stock worth $539,000 after purchasing an additional 11,655 shares during the period. Finally, Gabelli Funds LLC boosted its stake in shares of Vestis by 29.1% during the first quarter. Gabelli Funds LLC now owns 230,500 shares of the company’s stock valued at $4,442,000 after purchasing an additional 52,000 shares in 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.