Vestis (NYSE:VSTS) Receives “Hold” Rating from Stifel Nicolaus

Stifel Nicolaus reissued their hold rating on shares of Vestis (NYSE:VSTS) in a report published on Friday, MarketBeat Ratings reports.

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

Vestis Price Performance

NYSE VSTS traded down $0.75 during trading on Friday, reaching $9.41. The company’s stock had a trading volume of 24,764,651 shares, compared to its average volume of 2,588,736. The business’s fifty day moving average price is $18.38 and its 200-day moving average price is $18.67. Vestis has a twelve month low of $8.92 and a twelve month high of $22.37. The company has a current ratio of 2.51, a quick ratio of 2.23 and a debt-to-equity ratio of 1.69.

Vestis (NYSE:VSTS) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.09). The company had revenue of $705.37 million during the quarter, compared to analysts’ expectations of $722.54 million. The business’s revenue was up .9% on a year-over-year basis. On average, research analysts forecast that Vestis will post 1.03 earnings per share for the current fiscal year.

Vestis Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were given 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.

Insider Buying and Selling

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

Hedge Funds Weigh In On Vestis

Several hedge funds have recently bought and sold shares of the stock. Strs Ohio acquired a new stake in Vestis during the third quarter worth approximately $359,000. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of Vestis in the third quarter valued at $1,318,000. Wolverine Asset Management LLC acquired a new position in Vestis in the third quarter valued at $2,412,000. CI Investments Inc. acquired a new stake in Vestis in the 3rd quarter worth about $28,000. Finally, Soros Fund Management LLC purchased a new stake in Vestis in the 3rd quarter valued at about $14,714,000. Hedge funds and other 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.