Vestis (NYSE:VSTS) Announces Quarterly Earnings Results

Vestis (NYSE:VSTS) posted its quarterly earnings data on Thursday. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.09), Briefing.com reports. The business had revenue of $705.37 million for the quarter, compared to analyst estimates of $722.54 million. The company’s revenue was up .9% on a year-over-year basis.

Vestis Price Performance

NYSE:VSTS traded down $0.75 during midday trading on Friday, reaching $9.41. 24,764,651 shares of the stock traded hands, compared to its average volume of 2,588,736. The company has a current ratio of 2.51, a quick ratio of 2.23 and a debt-to-equity ratio of 1.69. Vestis has a 12-month low of $8.92 and a 12-month high of $22.37. The business has a 50-day moving average of $18.38 and a two-hundred day moving average of $18.67.

Vestis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Friday, March 15th were issued a $0.035 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.14 dividend on an annualized basis and a yield of 1.49%.

Analyst Upgrades and Downgrades

VSTS has been the topic of a number of analyst reports. Wolfe Research began coverage on Vestis in a research note on Thursday, January 11th. They set an “outperform” rating and a $24.00 target price on the stock. Robert W. Baird cut their price target on shares of Vestis from $24.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday. The Goldman Sachs Group assumed coverage on shares of Vestis in a report on Thursday, January 25th. They set a “neutral” rating and a $22.00 price objective for the company. Stifel Nicolaus restated a “hold” rating on shares of Vestis in a research note on Friday. Finally, Barclays decreased their price target on shares of Vestis from $19.00 to $10.00 and set an “underweight” rating for the company in a research note on Friday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $19.33.

Insider Buying and Selling at Vestis

In related news, CEO Kim Scott bought 15,000 shares of the company’s stock in a transaction on Friday, February 9th. The shares were bought at an average price of $19.14 per share, with a total value of $287,100.00. Following the transaction, the chief executive officer now owns 183,131 shares in the company, valued at $3,505,127.34. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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.