Vestis (NYSE:VSTS) Shares Gap Down – What’s Next?

Shares of Vestis Co. (NYSE:VSTS) gapped down prior to trading on Wednesday . The stock had previously closed at $10.92, but opened at $10.37. Vestis shares last traded at $10.05, with a volume of 528,106 shares.

Wall Street Analysts Forecast Growth

VSTS has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Vestis from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. The Goldman Sachs Group decreased their price target on shares of Vestis from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Monday. Finally, Barclays lifted their price objective on Vestis from $10.00 to $13.00 and gave the company an “underweight” rating in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $13.68.

Vestis Stock Performance

The company has a market capitalization of $1.39 billion, a PE ratio of 132.58 and a beta of 1.40. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.43 and a current ratio of 1.80. The business’s 50-day moving average is $13.76 and its 200-day moving average is $14.62.

Vestis (NYSE:VSTS) last issued its quarterly earnings results on Friday, January 31st. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. Vestis had a return on equity of 7.91% and a net margin of 0.34%. During the same period in the previous year, the company posted $0.22 EPS. On average, research analysts anticipate that Vestis Co. will post 0.7 earnings per share for the current year.

Vestis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Friday, February 21st were given a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend was Friday, February 21st. Vestis’s dividend payout ratio is presently 175.00%.

Institutional Trading of Vestis

Institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. lifted its stake in shares of Vestis by 12.2% in the third quarter. Victory Capital Management Inc. now owns 63,551 shares of the company’s stock worth $947,000 after buying an additional 6,916 shares in the last quarter. KBC Group NV lifted its position in Vestis by 51.9% in the 3rd quarter. KBC Group NV now owns 4,741 shares of the company’s stock valued at $71,000 after acquiring an additional 1,619 shares in the last quarter. LMR Partners LLP boosted its stake in Vestis by 726.8% during the 3rd quarter. LMR Partners LLP now owns 160,528 shares of the company’s stock valued at $2,392,000 after purchasing an additional 141,113 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Vestis by 9.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,156,811 shares of the company’s stock valued at $32,136,000 after purchasing an additional 192,525 shares during the last quarter. Finally, Cerity Partners LLC increased its holdings in shares of Vestis by 335.7% in the 3rd quarter. Cerity Partners LLC now owns 71,578 shares of the company’s stock worth $1,067,000 after purchasing an additional 55,149 shares in the last quarter. 97.40% of the stock is owned by hedge funds and other institutional investors.

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.