Vestis (NYSE:VSTS) Shares Down 4.2%

Shares of Vestis Co. (NYSE:VSTS) traded down 4.2% during mid-day trading on Friday . The company traded as low as $14.51 and last traded at $14.65. 236,533 shares changed hands during trading, a decline of 89% from the average session volume of 2,166,202 shares. The stock had previously closed at $15.29.

Analyst Ratings Changes

A number of research firms have recently commented on VSTS. Baird R W cut Vestis from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 8th. William Blair assumed coverage on shares of Vestis in a research note on Friday, May 31st. They issued a “market perform” rating on the stock. Robert W. Baird downgraded shares of Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 price objective on the stock. in a report on Thursday, August 8th. Finally, The Goldman Sachs Group boosted their target price on shares of Vestis from $12.50 to $13.80 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $16.69.

Vestis Trading Down 4.4 %

The company has a debt-to-equity ratio of 1.67, a quick ratio of 2.02 and a current ratio of 2.37. The business’s 50-day moving average is $12.80 and its two-hundred day moving average is $14.75.

Vestis (NYSE:VSTS) last issued its earnings results on Wednesday, August 7th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.06. Vestis had a return on equity of 18.00% and a net margin of 4.13%. The business had revenue of $698.20 million for the quarter, compared to analysts’ expectations of $688.33 million. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. Equities analysts predict that Vestis Co. will post 0.64 EPS for the current 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 paid a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend is Friday, September 13th.

Institutional Investors Weigh In On Vestis

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. purchased a new stake in Vestis in the fourth quarter valued at $302,586,000. Capital International Investors acquired a new position in Vestis in the fourth quarter valued at about $125,586,000. AQR Capital Management LLC boosted its stake in Vestis by 223.0% during the second quarter. AQR Capital Management LLC now owns 3,753,889 shares of the company’s stock worth $45,197,000 after buying an additional 2,591,593 shares during the period. Wellington Management Group LLP acquired a new stake in shares of Vestis during the fourth quarter valued at about $56,431,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Vestis by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,541,710 shares of the company’s stock valued at $18,854,000 after acquiring an additional 8,997 shares during the period. 97.40% of the stock is currently owned by institutional investors and hedge funds.

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.