Vestis (NYSE:VSTS) Trading Up 4.9%

Vestis Co. (NYSE:VSTS) shares were up 4.9% on Thursday . The stock traded as high as $14.47 and last traded at $14.35. Approximately 805,697 shares changed hands during trading, a decline of 62% from the average daily volume of 2,124,479 shares. The stock had previously closed at $13.68.

Wall Street Analyst Weigh In

VSTS has been the topic of several recent analyst reports. Baird R W lowered shares of Vestis from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 8th. William Blair assumed coverage on Vestis in a research report on Friday, May 31st. They set a “market perform” rating on the stock. Robert W. Baird downgraded Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 target price for the company. in a report on Thursday, August 8th. Finally, The Goldman Sachs Group increased their price target on Vestis from $12.50 to $13.80 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $16.69.

Vestis Price Performance

The business has a 50-day moving average price of $12.84 and a two-hundred day moving average price of $14.72. The company has a quick ratio of 2.02, a current ratio of 2.37 and a debt-to-equity ratio of 1.67. The company has a market capitalization of $1.90 billion and a price-to-earnings ratio of 17.83.

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

Vestis Dividend Announcement

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

Institutional Investors Weigh In On Vestis

Institutional investors and hedge funds have recently bought and sold shares of the stock. TFO Wealth Partners LLC purchased a new stake in Vestis in the 4th quarter valued at about $42,000. Wahed Invest LLC bought a new position in shares of Vestis in the fourth quarter valued at approximately $42,000. Canada Pension Plan Investment Board purchased a new stake in shares of Vestis during the second quarter valued at approximately $44,000. nVerses Capital LLC bought a new stake in Vestis during the second quarter worth $61,000. Finally, PNC Financial Services Group Inc. bought a new position in Vestis in the 4th quarter valued at $65,000. 97.40% of the stock is owned by hedge funds and other 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.