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

Vestis (NYSE:VSTS) had its price target decreased by analysts at The Goldman Sachs Group from $15.00 to $13.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price points to a potential upside of 16.54% from the company’s current price.

Several other analysts have also recently commented on VSTS. JPMorgan Chase & Co. lifted their target price on shares of Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Barclays lifted their price objective on Vestis from $10.00 to $13.00 and gave the company an “underweight” rating in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $13.68.

Vestis Price Performance

Shares of NYSE VSTS traded up $0.35 during trading on Monday, reaching $11.16. The company had a trading volume of 450,674 shares, compared to its average volume of 2,076,616. The company has a current ratio of 1.80, a quick ratio of 1.43 and a debt-to-equity ratio of 1.39. The stock has a market capitalization of $1.47 billion, a PE ratio of 139.45 and a beta of 1.40. Vestis has a twelve month low of $8.92 and a twelve month high of $19.76. The stock has a 50-day moving average price of $13.97 and a two-hundred day moving average price of $14.66.

Vestis (NYSE:VSTS) last released its earnings results on Friday, January 31st. The company reported $0.14 earnings per share (EPS) for the quarter, beating 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 period last year, the business posted $0.22 EPS. As a group, sell-side analysts predict that Vestis will post 0.7 earnings per share for the current year.

Institutional Investors Weigh In On Vestis

A number of institutional investors have recently added to or reduced their stakes in the company. QSM Asset Management Ltd acquired a new position in Vestis during the fourth quarter valued at approximately $6,560,000. Pullen Investment Management LLC acquired a new position in shares of Vestis during the 4th quarter valued at $918,000. Mackenzie Financial Corp acquired a new position in shares of Vestis during the 4th quarter valued at $300,000. Toronto Dominion Bank purchased a new stake in Vestis during the 4th quarter worth $154,000. Finally, Neo Ivy Capital Management acquired a new stake in Vestis in the 4th quarter valued at $3,364,000. 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.