Shares of Vestis Co. (NYSE:VSTS - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $15.59, but opened at $16.67. Vestis shares last traded at $16.23, with a volume of 164,741 shares traded.
Analysts Set New Price Targets
Several research analysts recently commented on the stock. The Goldman Sachs Group increased their target price on shares of Vestis from $13.60 to $15.00 and gave the stock a "neutral" rating in a report on Friday, November 22nd. Barclays raised 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. Finally, 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. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $15.73.
View Our Latest Report on VSTS
Vestis Stock Performance
The company has a market capitalization of $2.16 billion, a P/E ratio of 102.44 and a beta of 1.17. The stock's fifty day moving average price is $15.07 and its 200-day moving average price is $13.89. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.36 and a current ratio of 1.73.
Vestis (NYSE:VSTS - Get Free Report) last released its quarterly earnings data on Thursday, November 21st. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.02). Vestis had a net margin of 0.75% and a return on equity of 9.07%. The business had revenue of $684.28 million during the quarter, compared to the consensus estimate of $693.54 million. The business's revenue for the quarter was down 4.4% compared to the same quarter last year. As a group, research analysts anticipate that Vestis Co. will post 0.66 EPS for the current fiscal year.
Vestis Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 6th. Shareholders of record on Friday, December 13th will be given a dividend of $0.035 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.14 dividend on an annualized basis and a yield of 0.85%. Vestis's dividend payout ratio (DPR) is 87.50%.
Institutional Trading of Vestis
A number of hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC grew its holdings in Vestis by 223.0% in the 2nd quarter. AQR Capital Management LLC now owns 3,753,889 shares of the company's stock valued at $45,197,000 after buying an additional 2,591,593 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of Vestis by 111.0% in the third quarter. Jacobs Levy Equity Management Inc. now owns 2,631,652 shares of the company's stock valued at $39,212,000 after acquiring an additional 1,384,413 shares in the last quarter. Forest Avenue Capital Management LP bought a new position in Vestis during the third quarter worth about $19,486,000. Granite Investment Partners LLC bought a new stake in Vestis in the 2nd quarter valued at about $13,752,000. Finally, TOMS Capital Investment Management LP grew its position in shares of Vestis by 22.7% during the 3rd quarter. TOMS Capital Investment Management LP now owns 2,330,155 shares of the company's stock worth $34,719,000 after purchasing an additional 430,555 shares in the last quarter. Institutional investors and hedge funds own 97.40% of the company's stock.
Vestis Company Profile
(
Get Free Report)
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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