Vestis (NYSE:VSTS) Releases Earnings Results

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

Vestis Price Performance

Shares of VSTS stock opened at $9.41 on Friday. Vestis has a 12 month low of $8.92 and a 12 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. The stock has a 50 day moving average of $18.38 and a 200-day moving average of $18.69.

Vestis Dividend Announcement

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

Insider Transactions at Vestis

In related news, CEO Kim Scott purchased 15,000 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were bought at an average cost of $19.14 per share, for a total transaction of $287,100.00. Following the transaction, the chief executive officer now directly owns 183,131 shares of the company’s stock, valued at approximately $3,505,127.34. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Analyst Ratings Changes

Several brokerages have recently issued reports on VSTS. JPMorgan Chase & Co. lowered Vestis from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $22.00 to $11.00 in a report on Friday. The Goldman Sachs Group initiated coverage on shares of Vestis in a research note on Thursday, January 25th. They issued a “neutral” rating and a $22.00 price objective for the company. Barclays lowered their target price on shares of Vestis from $19.00 to $10.00 and set an “underweight” rating on the stock in a research report on Friday. Wolfe Research initiated coverage on Vestis in a research note on Thursday, January 11th. They set an “outperform” rating and a $24.00 price target for the company. Finally, Stifel Nicolaus restated a “hold” rating on shares of Vestis in a report on Friday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $19.33.

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.