Vestis (NYSE:VSTS) Issues Earnings Results

Vestis (NYSE:VSTS) issued its quarterly earnings results on Thursday. The company reported $0.13 earnings per share (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 during the quarter, compared to the consensus estimate of $722.54 million. The business’s revenue was up .9% compared to the same quarter last year.

Vestis Price Performance

Shares of Vestis stock traded down $0.75 on Friday, hitting $9.41. 24,764,651 shares of the company traded hands, compared to its average volume of 2,588,736. 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 company has a 50-day moving average price of $18.38 and a 200 day moving average price of $18.67.

Vestis Announces Dividend

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

Insider Activity at Vestis

In other news, CEO Kim Scott purchased 15,000 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was acquired at an average price of $19.14 per share, with a total value of $287,100.00. Following the purchase, the chief executive officer now owns 183,131 shares in the company, valued at approximately $3,505,127.34. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analyst Ratings Changes

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

About Vestis

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.