Vestis (NYSE:VSTS - Get Free Report) had its target price increased by equities research analysts at JPMorgan Chase & Co. from $15.00 to $16.00 in a report released on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target would suggest a potential upside of 4.51% from the stock's current price.
Several other research analysts have also recently weighed in on VSTS. 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 research note on Thursday, August 8th. Barclays boosted their price objective on shares of Vestis from $10.00 to $13.00 and gave the company an "underweight" rating in a report on Friday. Baird R W downgraded shares of Vestis from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 8th. Finally, The Goldman Sachs Group raised their price target on Vestis from $12.50 to $13.80 and gave the stock a "neutral" rating in a research note on Tuesday, August 20th. One equities research 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 stock has an average rating of "Hold" and an average target price of $17.43.
View Our Latest Analysis on VSTS
Shares of Vestis stock traded down $0.31 during midday trading on Friday, hitting $15.31. The company had a trading volume of 98,229 shares, compared to its average volume of 2,127,818. The company has a 50 day moving average of $14.58 and a 200 day moving average of $13.26. Vestis has a 52-week low of $8.92 and a 52-week high of $22.37. The company has a debt-to-equity ratio of 1.67, a quick ratio of 2.02 and a current ratio of 2.37.
Large investors have recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new stake in Vestis in the third quarter worth about $27,000. Nomura Asset Management Co. Ltd. raised its position 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 valued at $30,000 after purchasing an additional 1,020 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Vestis in the 3rd quarter valued at approximately $41,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Vestis during the 3rd quarter worth approximately $51,000. Finally, Canada Pension Plan Investment Board acquired a new position in Vestis during the 2nd quarter valued at approximately $44,000. 97.40% of the stock is currently owned by institutional investors.
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.
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