Vestis Co. (NYSE:VSTS - Get Free Report) announced a quarterly dividend on Friday, November 22nd,Wall Street Journal reports. Stockholders of record on Friday, December 13th will be given a dividend of 0.035 per share on Monday, January 6th. This represents a $0.14 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Friday, December 13th.
Vestis has a payout ratio of 18.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Vestis to earn $0.73 per share next year, which means the company should continue to be able to cover its $0.14 annual dividend with an expected future payout ratio of 19.2%.
Vestis Stock Up 3.3 %
NYSE VSTS traded up $0.52 during trading on Friday, hitting $16.14. The stock had a trading volume of 1,998,605 shares, compared to its average volume of 2,136,190. Vestis has a one year low of $8.92 and a one year high of $22.37. The stock has a 50 day simple moving average of $14.58 and a 200 day simple moving average of $13.26. The company has a quick ratio of 2.02, a current ratio of 2.37 and a debt-to-equity ratio of 1.67.
Analysts Set New Price Targets
Several research analysts recently issued reports on the company. Robert W. Baird cut Vestis from an "outperform" rating to a "neutral" rating and set a $13.00 price objective on the stock. in a research note on Thursday, August 8th. The Goldman Sachs Group raised their price target on Vestis from $13.60 to $15.00 and gave the company a "neutral" rating in a research note on Friday. Baird R W lowered shares of Vestis from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 8th. Barclays increased their target price on shares of Vestis from $10.00 to $13.00 and gave the stock an "underweight" rating in a report on Friday. Finally, JPMorgan Chase & Co. boosted their price target on shares of Vestis from $15.00 to $16.00 and gave the company a "neutral" rating in a report on Friday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, Vestis presently has an average rating of "Hold" and a consensus price target of $17.43.
Read Our Latest Stock Report on VSTS
About Vestis
(
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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.
Further Reading
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