close
close

Vestis (NYSE:VSTS) Downgraded to ‘Neutral’ on Redburn Atlantic


Vestis (NYSE:VSTS – Get Free Report) In a report published on Tuesday, Redburn Atlantic analysts lowered their recommendation from “buy” to “neutral”, according to MarketBeat. They currently have a price target of $13.40 for the stock. Redburn Atlantic’s price target indicates a potential upside of 27.01% from the current share price.

Many other research analysts also commented on the company. Goldman Sachs Group lowered the price target for Vestis from $20.00 to $11.00 and set a “neutral” rating for the company in Monday’s report. On Thursday, January 11, Wolfe Research began working on Vestis in a research report. They set an “outperform” rating and a $24.00 price target on the stock. On Friday, May 3, Stifel Nicolaus maintained its “hold” recommendation for Vestis shares. In a research report published on Friday, May 3, JPMorgan Chase & Co. downgraded Vestis from “overweight” to “neutral” and lowered the price target for the company from $22.00 to $11.00. Ultimately, Barclays lowered their target price on Vestis from $19.00 to $10.00 and set an “underweight” rating on the stock in a research report on Friday, May 3rd. One of the equity market analysts rated the company’s shares with a sell recommendation, four of them issued a hold recommendation, and four of them gave the company’s shares a buy recommendation. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $16.38.

See our latest research report on Vestis

Vestis stocks up 3.1%

Vestis shares opened at $10.55 on Tuesday. The stock has a 50-day moving average of $17.83 and a two-hundred-day moving average of $18.60. The company has a current ratio of 2.51, a quick ratio of 2.16 and a debt to equity ratio of 1.69. Vestis has a 1-year low of $8.92 and a 1-year high of $22.37.

Vestis (NYSE:VSTS – Get Free Report) last released its quarterly data on Thursday, May 2nd. The company reported $0.13 earnings per share for the quarter, missing the analyst consensus estimate of $0.22 ($0.09). The company had revenue of $705.37 million for the quarter, compared to analyst estimates of $722.54 million. The company’s revenues for this quarter increased by 0.9% compared to the same quarter last year. Stock market research analysts forecast that Vestis will record earnings per share of 1.03 in the current fiscal year.

Insiders place their bets

In other Vestis news, the main shareholder Corvex Management Lp purchased 622,346 shares of the company on Wednesday, May 8. The shares were purchased at an average price of $10.43 per share, for a total value of $6,491,068.78. Following the completion of the purchase, the insider now directly owns 16,591,833 shares of the company’s stock, valued at $173,052,818.19. The transaction was disclosed in a filing with the Securities and Exchange Commission, which is available on the SEC’s website. In other news, CEO Kim Scott acquired 15,000 shares of the company’s stock in a transaction on Friday, February 9th. The shares were purchased at an average cost of USD 19.14 per share, and their total value was USD 287,100.00. Following the completion of the purchase, the CEO now owns 183,131 shares of the company’s stock, valued at approximately $3,505,127.34. The acquisition was disclosed in a document filed with the SEC, available on the SEC’s website. The main shareholder, Corvex Management Lp, also purchased 622,346 shares of the company in a transaction dated Wednesday, May 8. The shares were purchased at an average cost of $10.43 per share, for a total value of $6,491,068.78. Following the completion of the purchase, the insider now directly owns 16,591,833 shares of the company’s stock, valued at approximately $173,052,818.19. Information regarding this purchase can be found here. In the last quarter, insiders purchased a total of 2,485,555 shares of company stock worth $24,417,961.

Institutional investors are betting on Vestis

Institutional investors have recently modified their holdings in the company. Sound Income Strategies LLC acquired a new position in Vestis during the 4th quarter valued at $25,000. Parkside Financial Bank & Trust acquired a new position in Vestis during the fourth quarter valued at $25,000. CI Investments Inc. acquired a new position in Vestis during the third quarter worth $28,000. Daiwa Securities Group Inc. acquired a new position in Vestis during the fourth quarter worth $34,000. Finally, TFO Wealth Partners LLC acquired a new position in Vestis during the 4th quarter valued at $42,000. 97.40% of the shares are held by institutional investors and hedge funds.

Vestis company profile

(Get the free report)

Vestis Corporation provides uniform rentals and workplace supplies in the United States and Canada. Its products include uniform clothing such as shirts, trousers, outerwear, aprons, aprons, reflective clothing, particulate-free clothing and flame-retardant clothing, as well as shoes and accessories; and workplace supplies including managed toilet supply services, first aid and safety products, floor mats, towels and bedding.

Featured Stories

Analyst Recommendations for Vestis (NYSE:VSTS)



Get Vestis news and ratings every day – Enter your email address below to receive a daily concise summary of the latest news and analyst ratings for Vestis and related companies with MarketBeat.com’s FREE daily email newsletter.