Vestis (NYSE:VSTS) Shares Gap Down - What's Next?

Vestis Co. (NYSE:VSTS - Get Free Report) shares gapped down before the market opened on Wednesday . The stock had previously closed at $10.92, but opened at $10.37. Vestis shares last traded at $10.05, with a volume of 528,106 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on VSTS shares. The Goldman Sachs Group decreased their price objective on Vestis from $15.00 to $13.00 and set a "neutral" rating on the stock in a research report on Monday, March 17th. Robert W. Baird decreased their price objective on shares of Vestis from $17.00 to $13.00 and set a "neutral" rating for the company in a report on Thursday. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat.com, Vestis has a consensus rating of "Hold" and a consensus target price of $13.68.

Vestis Stock Performance

The stock has a fifty day simple moving average of $13.40 and a 200-day simple moving average of $14.54. The stock has a market cap of $1.32 billion, a P/E ratio of 124.89 and a beta of 1.40. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.43 and a current ratio of 1.80.

Vestis (NYSE:VSTS - Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The company reported $0.14 earnings per share (EPS) for the quarter, beating 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 period last year, the company posted $0.22 EPS. On average, equities analysts expect that Vestis Co. will post 0.7 earnings per share for the current year.

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Vestis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Friday, February 21st were paid a $0.035 dividend. The ex-dividend date was Friday, February 21st. This represents a $0.14 annualized dividend and a dividend yield of 1.40%. Vestis's dividend payout ratio is presently 175.00%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of VSTS. Victory Capital Management Inc. boosted its position in Vestis by 12.2% during the third quarter. Victory Capital Management Inc. now owns 63,551 shares of the company's stock worth $947,000 after purchasing an additional 6,916 shares during the period. KBC Group NV boosted its stake in Vestis by 51.9% in the 3rd quarter. KBC Group NV now owns 4,741 shares of the company's stock valued at $71,000 after purchasing an additional 1,619 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Vestis by 9.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,156,811 shares of the company's stock valued at $32,136,000 after acquiring an additional 192,525 shares in the last quarter. Cerity Partners LLC grew its position in shares of Vestis by 335.7% during the 3rd quarter. Cerity Partners LLC now owns 71,578 shares of the company's stock worth $1,067,000 after purchasing an additional 55,149 shares in the last quarter. Finally, Algert Global LLC grew its position in Vestis by 38.7% during the third quarter. Algert Global LLC now owns 275,735 shares of the company's stock worth $4,108,000 after buying an additional 76,940 shares in the last quarter. 97.40% of the stock is currently owned by institutional investors and hedge funds.

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.