Vestis Sees Unusually High Options Volume (NYSE:VSTS)

Vestis Co. (NYSE:VSTS) was the recipient of unusually large options trading on Tuesday. Stock traders bought 10,249 call options on the company. This represents an increase of approximately 432% compared to the typical daily volume of 1,926 call options.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of VSTS. Russell Investments Group Ltd. bought a new position in shares of Vestis in the 4th quarter worth about $3,091,000. Swiss National Bank bought a new stake in Vestis during the 4th quarter worth approximately $5,447,000. Amalgamated Bank bought a new stake in Vestis during the 4th quarter worth approximately $1,288,000. Charles Schwab Investment Management Inc. bought a new stake in Vestis during the 4th quarter worth approximately $19,377,000. Finally, Teacher Retirement System of Texas bought a new stake in Vestis during the 4th quarter worth approximately $962,000. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Vestis Stock Performance

Shares of VSTS stock traded up $0.10 on Tuesday, reaching $15.02. 857,710 shares of the company were exchanged, compared to its average volume of 2,205,375. Vestis has a one year low of $8.92 and a one year high of $22.37. The company has a 50-day moving average of $12.91 and a 200-day moving average of $14.62. 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 posted its quarterly earnings data 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. The firm had revenue of $698.20 million for the quarter, compared to the consensus estimate of $688.33 million. Vestis had a net margin of 4.13% and a return on equity of 18.00%. Vestis’s quarterly revenue was down 1.6% compared to the same quarter last year. As a group, equities analysts anticipate that Vestis will post 0.64 EPS for the current fiscal year.

Vestis Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Friday, September 13th will be issued a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend is Friday, September 13th.

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.