Vestis Co. (NYSE:VSTS) Short Interest Down 25.1% in March

Vestis Co. (NYSE:VSTS - Get Free Report) saw a significant drop in short interest in March. As of March 31st, there was short interest totalling 5,940,000 shares, a drop of 25.1% from the March 15th total of 7,930,000 shares. Based on an average daily volume of 2,120,000 shares, the days-to-cover ratio is presently 2.8 days. Currently, 4.6% of the company's stock are sold short.

Hedge Funds Weigh In On Vestis

Several institutional investors have recently made changes to their positions in the company. Pacer Advisors Inc. acquired a new stake in Vestis during the fourth quarter valued at $210,766,000. AQR Capital Management LLC boosted its stake in shares of Vestis by 47.4% during the 4th quarter. AQR Capital Management LLC now owns 3,125,669 shares of the company's stock worth $47,635,000 after acquiring an additional 1,004,497 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Vestis by 46.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,095,278 shares of the company's stock valued at $47,172,000 after purchasing an additional 980,303 shares in the last quarter. Millennium Management LLC increased its stake in shares of Vestis by 179.4% in the 4th quarter. Millennium Management LLC now owns 3,003,762 shares of the company's stock valued at $45,777,000 after purchasing an additional 1,928,687 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in Vestis by 2.3% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,691,476 shares of the company's stock worth $41,018,000 after purchasing an additional 59,824 shares during the period. 97.40% of the stock is owned by hedge funds and other institutional investors.

Vestis Price Performance

NYSE VSTS opened at $7.67 on Friday. Vestis has a 1 year low of $7.35 and a 1 year high of $19.11. The company has a market cap of $1.01 billion, a price-to-earnings ratio of 95.82 and a beta of 1.55. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.80 and a quick ratio of 1.43. The stock's fifty day moving average price is $10.52 and its 200 day moving average price is $13.58.

Vestis (NYSE:VSTS - Get Free Report) last issued its earnings results on Friday, January 31st. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.02. Vestis had a net margin of 0.34% and a return on equity of 7.91%. During the same quarter in the previous year, the firm earned $0.22 earnings per share. As a group, equities research analysts forecast that Vestis will post 0.7 earnings per share for the current year.

Vestis Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Friday, February 21st were issued a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date was Friday, February 21st. Vestis's payout ratio is presently 175.00%.

Analyst Ratings Changes

A number of equities research analysts recently commented on VSTS shares. Barclays decreased their target price on shares of Vestis from $13.00 to $10.00 and set an "underweight" rating for the company in a research report on Friday, April 4th. Robert W. Baird lowered their price objective on Vestis from $17.00 to $13.00 and set a "neutral" rating for the company in a research report on Thursday, March 20th. Finally, The Goldman Sachs Group reduced their target price on Vestis from $15.00 to $13.00 and set a "neutral" rating on the stock in a research report on Monday, March 17th. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $13.08.

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.

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