Short Interest in Vestis Co. (NYSE:VSTS) Decreases By 28.6%

Vestis Co. (NYSE:VSTS - Get Free Report) saw a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 3,970,000 shares, a drop of 28.6% from the September 15th total of 5,560,000 shares. Approximately 3.0% of the shares of the company are sold short. Based on an average trading volume of 2,250,000 shares, the days-to-cover ratio is currently 1.8 days.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on VSTS. Baird R W lowered shares of Vestis from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 8th. Robert W. Baird cut shares of Vestis from an "outperform" rating to a "neutral" rating and set a $13.00 target price on the stock. in a research note on Thursday, August 8th. Finally, The Goldman Sachs Group increased their price target on shares of Vestis from $12.50 to $13.80 and gave the stock a "neutral" rating in a research report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $16.69.

Vestis Trading Up 1.2 %

Vestis stock traded up $0.18 during trading hours on Friday, hitting $14.94. 792,093 shares of the stock were exchanged, compared to its average volume of 2,585,639. The business's 50-day moving average is $14.22 and its two-hundred day moving average is $14.08. The company has a debt-to-equity ratio of 1.67, a current ratio of 2.37 and a quick ratio of 2.02. Vestis has a 12 month low of $8.92 and a 12 month high of $22.37.

Vestis (NYSE:VSTS - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.06. Vestis had a return on equity of 18.00% and a net margin of 4.13%. The business had revenue of $698.20 million for the quarter, compared to analyst estimates of $688.33 million. Vestis's revenue for the quarter was down 1.6% on a year-over-year basis. On average, sell-side analysts forecast that Vestis will post 0.64 EPS for the current year.

Vestis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 3rd. Shareholders of record on Friday, September 13th were paid a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date was Friday, September 13th.

Hedge Funds Weigh In On Vestis

Large investors have recently modified their holdings of the stock. Annex Advisory Services LLC lifted its stake in shares of Vestis by 1.2% during the third quarter. Annex Advisory Services LLC now owns 258,948 shares of the company's stock valued at $3,858,000 after acquiring an additional 3,036 shares during the period. Wedmont Private Capital raised its holdings in Vestis by 58.1% during the 3rd quarter. Wedmont Private Capital now owns 16,037 shares of the company's stock worth $235,000 after purchasing an additional 5,892 shares during the last quarter. CWM LLC lifted its position in Vestis by 253.7% during the 3rd quarter. CWM LLC now owns 46,834 shares of the company's stock valued at $698,000 after purchasing an additional 33,594 shares during the period. Samson Rock Capital LLP bought a new position in shares of Vestis in the 3rd quarter valued at about $2,235,000. Finally, GAMMA Investing LLC boosted its stake in shares of Vestis by 143.5% in the 3rd quarter. GAMMA Investing LLC now owns 3,960 shares of the company's stock valued at $59,000 after purchasing an additional 2,334 shares during the last quarter. 97.40% of the stock is currently owned by institutional investors and hedge funds.

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.