Vestis (NYSE:VSTS) Shares Down 5.5% – Here’s Why

Vestis Co. (NYSE:VSTS) was down 5.5% on Tuesday . The company traded as low as $11.00 and last traded at $10.96. Approximately 628,196 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 2,054,930 shares. The stock had previously closed at $11.59.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on VSTS shares. Barclays raised their price target on Vestis from $10.00 to $13.00 and gave the stock an “underweight” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. increased their price objective on Vestis from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, The Goldman Sachs Group lifted their target price on shares of Vestis from $13.60 to $15.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $14.08.

Vestis Trading Down 4.6 %

The firm’s fifty day moving average is $14.77 and its two-hundred day moving average is $14.81. The company has a quick ratio of 1.43, a current ratio of 1.80 and a debt-to-equity ratio of 1.39. The firm has a market cap of $1.46 billion, a P/E ratio of 138.20 and a beta of 1.16.

Vestis (NYSE:VSTS) last issued its quarterly earnings data on Friday, January 31st. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.12 by $0.02. Vestis had a net margin of 0.34% and a return on equity of 7.91%. During the same period last year, the firm earned $0.22 earnings per share. Analysts predict that Vestis Co. will post 0.7 earnings per share for the current fiscal year.

Vestis Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Friday, February 21st will be issued a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend is Friday, February 21st. Vestis’s dividend payout ratio (DPR) is presently 175.00%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC increased its position in Vestis by 201.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 43,952 shares of the company’s stock valued at $655,000 after buying an additional 29,389 shares in the last quarter. US Bancorp DE raised its position in shares of Vestis by 11.9% in the 3rd quarter. US Bancorp DE now owns 31,939 shares of the company’s stock worth $476,000 after purchasing an additional 3,386 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Vestis in the 3rd quarter worth about $41,000. Sigma Planning Corp bought a new position in Vestis in the 3rd quarter worth about $159,000. Finally, Victory Capital Management Inc. grew its position in Vestis by 12.2% during the 3rd quarter. Victory Capital Management Inc. now owns 63,551 shares of the company’s stock valued at $947,000 after purchasing an additional 6,916 shares during the last quarter. 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.