Vestis (NYSE:VSTS) Sets New 1-Year High – Here’s Why

Vestis Corporation (NYSE:VSTS)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $14.85 and last traded at $14.8150, with a volume of 1889360 shares traded. The stock had previously closed at $14.42.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on VSTS. William Blair raised Vestis from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 12th. Stifel Nicolaus boosted their price objective on shares of Vestis from $8.50 to $11.00 and gave the stock a “hold” rating in a research note on Wednesday, May 13th. Robert W. Baird boosted their price objective on shares of Vestis from $10.00 to $14.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 13th. Barclays raised their target price on shares of Vestis from $6.00 to $9.00 and gave the company an “underweight” rating in a research note on Friday, May 15th. Finally, Weiss Ratings downgraded shares of Vestis from a “sell (d)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $9.50.

Vestis Stock Performance

The firm has a 50 day moving average of $11.98 and a two-hundred day moving average of $9.04. The stock has a market cap of $1.94 billion, a P/E ratio of -104.95 and a beta of 0.97. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.69 and a current ratio of 2.13.

Vestis (NYSE:VSTS) last issued its quarterly earnings results on Tuesday, May 12th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.09 by $0.07. Vestis had a positive return on equity of 5.27% and a negative net margin of 0.63%.The company had revenue of $659.44 million for the quarter, compared to the consensus estimate of $655.32 million. During the same period in the previous year, the business posted ($0.05) EPS. The company’s revenue for the quarter was down .9% on a year-over-year basis. On average, research analysts predict that Vestis Corporation will post 0.52 EPS for the current fiscal year.

Hedge Funds Weigh In On Vestis

A number of institutional investors and hedge funds have recently bought and sold shares of VSTS. State of Wyoming boosted its holdings in Vestis by 10.4% in the 4th quarter. State of Wyoming now owns 15,145 shares of the company’s stock valued at $101,000 after purchasing an additional 1,428 shares during the period. Quantinno Capital Management LP increased its holdings in shares of Vestis by 2.1% during the 1st quarter. Quantinno Capital Management LP now owns 86,042 shares of the company’s stock worth $676,000 after purchasing an additional 1,756 shares during the period. Captrust Financial Advisors raised its position in shares of Vestis by 15.6% during the second quarter. Captrust Financial Advisors now owns 20,599 shares of the company’s stock valued at $118,000 after buying an additional 2,787 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of Vestis by 147.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,175 shares of the company’s stock valued at $35,000 after buying an additional 3,082 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in shares of Vestis by 176.1% in the fourth quarter. Farther Finance Advisors LLC now owns 5,193 shares of the company’s stock valued at $35,000 after buying an additional 3,312 shares during the period. 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. The company serves manufacturing, hospitality, retail, food processing, food service, pharmaceuticals, healthcare, automotive, and cleanroom industries.