Vestis (NYSE:VSTS) Shares Gap Down - Should You Sell?

Vestis Co. (NYSE:VSTS - Get Free Report) shares gapped down before the market opened on Friday . The stock had previously closed at $15.84, but opened at $14.08. Vestis shares last traded at $13.81, with a volume of 339,835 shares.

Analysts Set New Price Targets

VSTS has been the subject of a number of recent research reports. JPMorgan Chase & Co. upped their target price on Vestis from $15.00 to $16.00 and gave the stock a "neutral" rating in a report on Friday, November 22nd. The Goldman Sachs Group increased their target price on shares of Vestis from $13.60 to $15.00 and gave the company a "neutral" rating in a report on Friday, November 22nd. Finally, Barclays increased their price objective on Vestis from $10.00 to $13.00 and gave the company an "underweight" rating in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat.com, Vestis currently has an average rating of "Hold" and a consensus price target of $14.08.

Vestis Stock Down 1.5 %

The company has a current ratio of 1.80, a quick ratio of 1.43 and a debt-to-equity ratio of 1.39. The company has a 50 day simple moving average of $16.01 and a two-hundred day simple moving average of $14.73. The firm has a market capitalization of $1.80 billion, a P/E ratio of 170.58 and a beta of 1.17.

Vestis (NYSE:VSTS - Get Free Report) last announced its quarterly earnings data on Friday, January 31st. The company reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates 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 last year, the business posted $0.22 earnings per share. On average, equities analysts predict that Vestis Co. will post 0.66 EPS for the current fiscal year.

Vestis Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Friday, February 21st will be paid a $0.035 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $0.14 dividend on an annualized basis and a yield of 1.03%. Vestis's dividend payout ratio is currently 175.02%.

Institutional Trading of Vestis

Several institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its position in Vestis by 20.8% during the fourth quarter. Bank of New York Mellon Corp now owns 1,096,922 shares of the company's stock worth $16,717,000 after buying an additional 188,661 shares during the period. Y Intercept Hong Kong Ltd lifted its stake in shares of Vestis by 30.9% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 19,377 shares of the company's stock worth $295,000 after acquiring an additional 4,571 shares in the last quarter. Handelsbanken Fonder AB bought a new stake in Vestis in the fourth quarter valued at about $520,000. Ieq Capital LLC lifted its holdings in Vestis by 689.7% in the fourth quarter. Ieq Capital LLC now owns 160,671 shares of the company's stock worth $2,449,000 after acquiring an additional 140,324 shares during the last quarter. Finally, CIBC Asset Management Inc acquired a new position in shares of Vestis during the fourth quarter worth approximately $180,000. Institutional investors and hedge funds 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.