The Goldman Sachs Group Issues Positive Forecast for Vestis (NYSE:VSTS) Stock Price

Vestis (NYSE:VSTS) had its price target upped by The Goldman Sachs Group from $13.60 to $15.00 in a report released on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other analysts have also recently issued reports on VSTS. JPMorgan Chase & Co. boosted their target price on Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Friday. Baird R W cut Vestis from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 8th. Barclays boosted their target price on Vestis from $10.00 to $13.00 and gave the stock an “underweight” rating in a report on Friday. Finally, Robert W. Baird cut Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 price target for the company. in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $17.43.

Vestis Stock Up 2.6 %

Shares of NYSE:VSTS opened at $16.02 on Friday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 2.02 and a current ratio of 1.73. Vestis has a 1 year low of $8.92 and a 1 year high of $22.37. The stock has a market capitalization of $2.11 billion and a P/E ratio of 100.13. The stock has a 50-day simple moving average of $14.58 and a 200-day simple moving average of $13.26.

Vestis Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Friday, December 13th. Vestis’s dividend payout ratio (DPR) is currently 87.51%.

Hedge Funds Weigh In On Vestis

Institutional investors and hedge funds have recently made changes to their positions in the business. Louisiana State Employees Retirement System lifted its holdings in shares of Vestis by 1.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 66,100 shares of the company’s stock worth $808,000 after purchasing an additional 1,000 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of 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 during the last quarter. KBC Group NV lifted its holdings in shares of Vestis by 51.9% in the 3rd quarter. KBC Group NV now owns 4,741 shares of the company’s stock worth $71,000 after purchasing an additional 1,619 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of Vestis in the 3rd quarter worth approximately $27,000. Finally, Crossmark Global Holdings Inc. lifted its holdings in shares of Vestis by 9.6% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 21,747 shares of the company’s stock worth $266,000 after purchasing an additional 1,900 shares during 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.