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

Vestis (NYSE:VSTS) had its target price upped by Barclays from $10.00 to $13.00 in a research note released on Friday morning,Benzinga reports. Barclays currently has an underweight rating on the stock.

Several other equities research analysts have also recently commented on VSTS. The Goldman Sachs Group increased their price target on Vestis from $12.50 to $13.80 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Robert W. Baird cut shares of Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 price objective for the company. in a research report on Thursday, August 8th. Finally, Baird R W cut Vestis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 8th. One investment 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $17.43.

Vestis Stock Up 1.8 %

VSTS stock opened at $16.31 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.36 and a debt-to-equity ratio of 1.40. The firm has a 50-day moving average of $14.60 and a two-hundred day moving average of $13.35. Vestis has a 12 month low of $8.92 and a 12 month high of $22.37. The company has a market cap of $2.14 billion and a price-to-earnings ratio of 100.13.

Vestis Announces Dividend

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

Institutional Investors Weigh In On Vestis

Hedge funds have recently modified their holdings of the stock. Brooklyn Investment Group purchased a new position in shares of Vestis during the 3rd quarter worth approximately $27,000. Nomura Asset Management Co. Ltd. grew its holdings in Vestis by 104.1% during the third quarter. Nomura Asset Management Co. Ltd. now owns 2,000 shares of the company’s stock worth $30,000 after acquiring an additional 1,020 shares during the period. Capital Performance Advisors LLP acquired a new stake in Vestis in the third quarter valued at $41,000. Canada Pension Plan Investment Board purchased a new stake in shares of Vestis during the 2nd quarter worth $44,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Vestis during the 3rd quarter worth $51,000. 97.40% of the stock is owned by institutional investors and hedge funds.

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.