BlackRock Fund Advisors recently announced the acquisition of new stake in Vestis Corp (NYSE:VSTS). This fresh investment now brings its stake to 7.90% valued currently at $157.96 million. In addition, Geode Capital Management LLC raised its holdings by 1.92 million to 1.92 million shares.
With over 3.64 million Vestis Corp (VSTS) shares trading Tuesday and a closing price of $16.39 on the day, the dollar volume was approximately $59.64 million. Currently, there are 131.00M common shares owned by the public and among those 130.50M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 6 analysts who have offered their price forecasts for VSTS have a consensus price objective of $21.67. The analysts have set the share’s price value over the next 12 months at a high of $29.00 and a low of $17.00. The average price target is 24.37% above its recent price level and an upside to the estimated low will see the stock gain 3.59% over that period. But an upside of 43.48% will see the stock hit the forecast high price target while median target price for the stock is $20.00.
The top 3 mutual fund holders in Vestis Corp are Vanguard Total Stock Market ETF, iShares Core S&P Mid Cap ETF, and Vanguard Small Cap Index Fund. Vanguard Total Stock Market ETF owns 4.08 million shares of the company’s stock, all valued at over $62.43 million. The company bought an additional 4.08 million shares recently to bring their total holdings to about 3.12% of the shares outstanding. Vanguard Small Cap Index Fund bought 3.36 million shares to bring its total holdings to over 3.36 million shares at a value of $51.39 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.57% of the shares outstanding.
Shares of Vestis Corp (NYSE: VSTS) opened at $16.19, up $0.01 from a prior closing price of $16.18. However, the script later moved the day high at 16.43, up 1.30%. It has a 12-month low price of $13.83 and touched a high of $20.25 over the same period. VSTS has an average intraday trading volume of 2.09 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 1.93%, 2.04%, and 2.04% respectively.
Institutional ownership of Vestis Corp (NYSE: VSTS) shares accounts for 12.38% of the company’s 131.00M shares outstanding. Mutual fund holders own 0.39%, while other institutional holders and individual stakeholders account for 19.02% and -6.58% respectively.
It has a market capitalization of $2.15B. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.84% over the week and 4.04% over the month.
Analysts forecast that Vestis Corp (VSTS) will achieve an EPS of $0.38 for the current quarter, $0.2 for the next quarter and $0.97 for 2024. The lowest estimate earnings-per-share for the quarter is $0.23 while analysts give the company a high EPS estimate of $0.53.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate Vestis Corp (VSTS) as a “Strong Buy” at a consensus score of 1.50. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 1 of the 6 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the VSTS, a number of firms have released research notes about the stock. Jefferies stated their Buy rating for the stock in a research note on Nov-22-23, with the firm’s price target at $20.
