Vestis (NYSE:VSTS) Announces Quarterly Earnings Results

Vestis (NYSE:VSTS) issued its quarterly earnings data on Thursday. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.09), Briefing.com reports. The business had revenue of $705.37 million for the quarter, compared to analyst estimates of $722.54 million. Vestis’s revenue was up .9% compared to the same quarter last year.

Vestis Stock Down 7.5 %

VSTS traded down $0.77 on Friday, reaching $9.40. 24,763,820 shares of the company traded hands, compared to its average volume of 2,154,511. The company has a current ratio of 2.61, a quick ratio of 2.23 and a debt-to-equity ratio of 1.73. Vestis has a one year low of $8.92 and a one year high of $22.37. The firm has a fifty day simple moving average of $18.38 and a two-hundred day simple moving average of $18.67.

Vestis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were issued a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date was Thursday, March 14th.

Analysts Set New Price Targets

Several research analysts recently commented on VSTS shares. Wolfe Research initiated coverage on Vestis in a research report on Thursday, January 11th. They issued an “outperform” rating and a $24.00 price target for the company. JPMorgan Chase & Co. downgraded Vestis from an “overweight” rating to a “neutral” rating and cut their target price for the company from $22.00 to $11.00 in a research report on Friday. Robert W. Baird lowered their price target on Vestis from $24.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday. Barclays dropped their price objective on shares of Vestis from $19.00 to $10.00 and set an “underweight” rating for the company in a research note on Friday. Finally, The Goldman Sachs Group assumed coverage on shares of Vestis in a research note on Thursday, January 25th. They issued a “neutral” rating and a $22.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Vestis presently has an average rating of “Hold” and an average price target of $19.33.

Insiders Place Their Bets

In other news, CEO Kim Scott bought 15,000 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was acquired at an average cost of $19.14 per share, with a total value of $287,100.00. Following the transaction, the chief executive officer now directly owns 183,131 shares in the company, valued at approximately $3,505,127.34. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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.