Vestis (NYSE:VSTS) Posts Earnings Results, Misses Estimates By $0.09 EPS

Vestis (NYSE:VSTS) issued its quarterly earnings data on Thursday. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.09), Briefing.com reports. The firm had revenue of $705.37 million during the quarter, compared to analysts’ expectations of $722.54 million. The firm’s revenue for the quarter was up .9% on a year-over-year basis.

Vestis Trading Down 7.4 %

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. The stock’s 50 day moving average price is $18.38 and its 200-day moving average price is $18.67. The company has a debt-to-equity ratio of 1.69, a quick ratio of 2.23 and a current ratio of 2.51. Vestis has a 52 week low of $8.92 and a 52 week high of $22.37.

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 given a dividend of $0.035 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.14 annualized dividend and a dividend yield of 1.49%.

Insider Activity

In other Vestis news, CEO Kim Scott acquired 15,000 shares of Vestis stock in a transaction that occurred on Friday, February 9th. The stock was bought at an average price of $19.14 per share, with a total value of $287,100.00. Following the completion of the purchase, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on VSTS shares. The Goldman Sachs Group started coverage on Vestis in a research report on Thursday, January 25th. They set a “neutral” rating and a $22.00 price objective for the company. Wolfe Research started coverage on Vestis in a research report on Thursday, January 11th. They set an “outperform” rating and a $24.00 price objective for the company. JPMorgan Chase & Co. lowered Vestis from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $22.00 to $11.00 in a research report on Friday. Stifel Nicolaus reiterated a “hold” rating on shares of Vestis in a research report on Friday. Finally, Barclays dropped their price target on Vestis from $19.00 to $10.00 and set an “underweight” rating for the company in a research report on Friday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target 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.