Traders Purchase High Volume of Call Options on Vestis (NYSE:VSTS)

Vestis Co. (NYSE:VSTS) saw unusually large options trading activity on Tuesday. Stock traders purchased 10,249 call options on the stock. This is an increase of approximately 432% compared to the average daily volume of 1,926 call options.

Vestis Price Performance

Vestis stock opened at $14.69 on Wednesday. The firm’s 50-day moving average is $12.97 and its 200-day moving average is $14.58. The company has a debt-to-equity ratio of 1.67, a quick ratio of 2.02 and a current ratio of 2.37. Vestis has a 1 year low of $8.92 and a 1 year high of $22.37.

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

Vestis Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Friday, September 13th will be given a $0.035 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.95%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on VSTS. The Goldman Sachs Group upped their target price on shares of Vestis from $12.50 to $13.80 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Baird R W downgraded shares of Vestis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 8th. Robert W. Baird downgraded shares of Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 target price for the company. in a research note on Thursday, August 8th. Finally, William Blair began coverage on shares of Vestis in a research note on Friday, May 31st. They issued a “market perform” rating for the company. One 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 stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $16.69.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. TFO Wealth Partners LLC acquired a new stake in shares of Vestis in the 4th quarter worth about $42,000. Wahed Invest LLC acquired a new stake in shares of Vestis in the 4th quarter worth about $42,000. Canada Pension Plan Investment Board acquired a new stake in shares of Vestis in the 2nd quarter worth about $44,000. nVerses Capital LLC acquired a new stake in shares of Vestis in the 2nd quarter worth about $61,000. Finally, PNC Financial Services Group Inc. acquired a new stake in shares of Vestis in the 4th quarter worth about $65,000. 97.40% of the stock is currently owned by institutional investors.

About Vestis

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.