Vestis (NYSE:VSTS) Price Target Raised to $16.00

Vestis (NYSE:VSTS) had its price objective upped by JPMorgan Chase & Co. from $15.00 to $16.00 in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other research analysts have also issued research reports about the company. Robert W. Baird lowered Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 price target on the stock. in a research report on Thursday, August 8th. Barclays lifted their price target on shares of Vestis from $10.00 to $13.00 and gave the company an “underweight” rating in a research report on Friday. Baird R W cut shares of Vestis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, The Goldman Sachs Group boosted their target price 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 analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Vestis currently has a consensus rating of “Hold” and an average price target of $17.43.

Vestis Price Performance

VSTS stock opened at $16.31 on Friday. The stock has a 50-day moving average price of $14.60 and a two-hundred day moving average price of $13.35. Vestis has a 1 year low of $8.92 and a 1 year high of $22.37. The stock has a market cap of $2.14 billion and a PE ratio of 100.13. The company has a current ratio of 1.73, a quick ratio of 1.36 and a debt-to-equity ratio of 1.40.

Vestis Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.035 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.14 annualized dividend and a dividend yield of 0.86%. Vestis’s dividend payout ratio is currently 87.51%.

Institutional Trading of Vestis

Hedge funds have recently bought and sold shares of the business. Brooklyn Investment Group purchased a new stake in Vestis in the 3rd quarter valued at $27,000. Nomura Asset Management Co. Ltd. grew its position 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 purchasing an additional 1,020 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in Vestis in the 3rd quarter valued at about $41,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Vestis during the 3rd quarter worth approximately $51,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of Vestis in the second quarter valued at approximately $44,000. Institutional investors and hedge funds 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.