Vestis (NYSE:VSTS) Shares Up 4.9%

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

Analyst Ratings Changes

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

Vestis Price Performance

The company has a current ratio of 2.37, a quick ratio of 2.02 and a debt-to-equity ratio of 1.67. The firm has a market capitalization of $1.90 billion and a price-to-earnings ratio of 17.83. The company’s 50 day moving average is $12.84 and its 200-day moving average is $14.72.

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

Vestis Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Friday, September 13th will be issued a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date is Friday, September 13th. Vestis’s dividend payout ratio is currently 17.28%.

Institutional Investors Weigh In On Vestis

Several institutional investors and hedge funds have recently bought and sold shares of the company. Wahed Invest LLC bought a new position in shares of Vestis in the fourth quarter worth about $42,000. TFO Wealth Partners LLC acquired a new position in Vestis in the 4th quarter worth about $42,000. PNC Financial Services Group Inc. bought a new position in Vestis in the fourth quarter valued at about $65,000. Canada Pension Plan Investment Board acquired a new stake in shares of Vestis during the second quarter valued at about $44,000. Finally, CWM LLC grew its holdings in shares of Vestis by 1,958.5% during the first quarter. CWM LLC now owns 4,817 shares of the company’s stock worth $93,000 after purchasing an additional 4,583 shares during the last quarter. Institutional investors own 97.40% of the company’s stock.

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.