Vestis (NYSE:VSTS) Trading Down 4.2%

Vestis Co. (NYSE:VSTS)’s stock price fell 4.2% during trading on Friday . The stock traded as low as $14.51 and last traded at $14.65. 236,533 shares were traded during mid-day trading, a decline of 89% from the average session volume of 2,166,202 shares. The stock had previously closed at $15.29.

Wall Street Analyst Weigh In

Several research firms recently commented on VSTS. The Goldman Sachs Group boosted 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. Baird R W lowered Vestis from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 8th. Robert W. Baird lowered Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 price objective for the company. in a report on Thursday, August 8th. Finally, William Blair initiated coverage on Vestis in a report on Friday, May 31st. They issued a “market perform” rating for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Vestis presently has a consensus rating of “Hold” and a consensus price target of $16.69.

Vestis Price Performance

The company has a market capitalization of $1.90 billion and a P/E ratio of 17.81. The company has a fifty day moving average price of $12.84 and a 200 day moving average price of $14.68. The company has a debt-to-equity ratio of 1.67, a current ratio of 2.37 and a quick ratio of 2.02.

Vestis (NYSE:VSTS) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.06. The business had revenue of $698.20 million during the quarter, compared to the consensus estimate of $688.33 million. Vestis had a return on equity of 18.00% and a net margin of 4.13%. Vestis’s quarterly revenue was down 1.6% on a year-over-year basis. On average, sell-side analysts forecast that Vestis Co. will post 0.64 EPS for the current fiscal year.

Vestis Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Friday, September 13th will be given a dividend of $0.035 per share. The ex-dividend date is Friday, September 13th. This represents a $0.14 annualized dividend and a dividend yield of 0.97%. Vestis’s dividend payout ratio is presently 17.28%.

Hedge Funds Weigh In On Vestis

Several hedge funds and other institutional investors have recently made changes to their positions in VSTS. Russell Investments Group Ltd. acquired a new stake in Vestis in the fourth quarter worth approximately $3,091,000. Swiss National Bank acquired a new stake in Vestis in the fourth quarter worth approximately $5,447,000. Amalgamated Bank acquired a new stake in Vestis in the fourth quarter worth approximately $1,288,000. Charles Schwab Investment Management Inc. acquired a new stake in Vestis in the fourth quarter worth approximately $19,377,000. Finally, Teacher Retirement System of Texas acquired a new stake in Vestis in the fourth quarter worth approximately $962,000. 97.40% of the stock is currently owned by institutional investors and hedge funds.

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.