Stifel Nicolaus Reaffirms Hold Rating for Vestis (NYSE:VSTS)

Stifel Nicolaus reissued their hold rating on shares of Vestis (NYSE:VSTS) in a research report released on Friday morning, MarketBeat.com reports.

Several other equities research analysts have also recently issued reports on VSTS. 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 note on Friday. Wolfe Research initiated coverage on Vestis in a research report on Thursday, January 11th. They set an outperform rating and a $24.00 price objective on the stock. JPMorgan Chase & Co. lowered shares of Vestis from an overweight rating to a neutral rating and decreased their target price for the company from $22.00 to $11.00 in a report on Friday. The Goldman Sachs Group began coverage on shares of Vestis in a report on Thursday, January 25th. They issued a neutral rating and a $22.00 price objective on the stock. Finally, Robert W. Baird decreased their price target on Vestis from $24.00 to $13.00 and set an outperform rating on the stock in a research note on Friday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Vestis currently has a consensus rating of Hold and a consensus price target of $18.11.

Vestis Stock Performance

VSTS opened at $9.91 on Friday. The company has a debt-to-equity ratio of 1.69, a quick ratio of 2.16 and a current ratio of 2.51. Vestis has a twelve month low of $8.92 and a twelve month high of $22.37. The company has a 50-day moving average price of $18.19 and a 200 day moving average price of $18.69.

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

Vestis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Friday, March 15th were given a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date was Thursday, March 14th.

Insider Activity

In other news, CEO Kim Scott purchased 15,000 shares of the stock in a transaction on Friday, February 9th. The stock was bought at an average price of $19.14 per share, for a total transaction of $287,100.00. Following the acquisition, the chief executive officer now directly owns 183,131 shares of the company’s stock, valued at approximately $3,505,127.34. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director James Phillip Holloman purchased 20,200 shares of Vestis stock in a transaction that occurred on Friday, May 3rd. The stock was purchased at an average cost of $9.93 per share, with a total value of $200,586.00. Following the completion of the transaction, the director now directly owns 44,132 shares in the company, valued at $438,230.76. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Kim Scott bought 15,000 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were purchased at an average price 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 disclosure for this purchase can be found here.

Institutional Investors Weigh In On Vestis

Several large investors have recently modified their holdings of VSTS. Sound Income Strategies LLC purchased a new position in Vestis during the 4th quarter worth $25,000. Parkside Financial Bank & Trust acquired a new position in shares of Vestis during the fourth quarter worth about $25,000. CI Investments Inc. purchased a new position in Vestis during the third quarter worth about $28,000. Daiwa Securities Group Inc. acquired a new stake in Vestis in the fourth quarter valued at about $34,000. Finally, TFO Wealth Partners LLC purchased a new stake in Vestis in the 4th quarter valued at approximately $42,000. 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.