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

Vestis Co. (NYSE:VSTS)’s stock price gapped down prior to trading 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 Analyst Weigh In

Several brokerages have commented on VSTS. Robert W. Baird cut their price target on shares of Vestis from $17.00 to $13.00 and set a “neutral” rating for the company in a report on Thursday. Barclays lifted their price objective on shares of Vestis from $10.00 to $13.00 and gave the stock an “underweight” rating in a report on Friday, November 22nd. The Goldman Sachs Group dropped their price objective on shares of Vestis from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Monday. Finally, JPMorgan Chase & Co. lifted their price objective on shares of 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 and seven have given a hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $13.68.

Vestis Trading Down 2.3 %

The firm has a market cap of $1.34 billion, a PE ratio of 126.70 and a beta of 1.40. The company has a quick ratio of 1.43, a current ratio of 1.80 and a debt-to-equity ratio of 1.39. The stock’s fifty day simple moving average is $13.52 and its two-hundred day simple moving average is $14.56.

Vestis (NYSE:VSTS) last announced its quarterly earnings data on Friday, January 31st. The company reported $0.14 earnings per share for the quarter, topping 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 period in the previous year, the firm earned $0.22 EPS. On average, sell-side analysts forecast that Vestis Co. will post 0.7 EPS for the current fiscal year.

Vestis Announces Dividend

The firm also recently disclosed 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 1.38%. The ex-dividend date of this dividend was Friday, February 21st. Vestis’s dividend payout ratio (DPR) is presently 175.00%.

Institutional Investors Weigh In On Vestis

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its stake in shares of Vestis by 17.9% in the fourth quarter. GAMMA Investing LLC now owns 4,670 shares of the company’s stock worth $71,000 after buying an additional 710 shares in the last quarter. Gamco Investors INC. ET AL lifted its stake in shares of Vestis by 2.0% in the fourth quarter. Gamco Investors INC. ET AL now owns 45,350 shares of the company’s stock worth $691,000 after buying an additional 875 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in shares of Vestis by 104.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 2,000 shares of the company’s stock worth $30,000 after buying an additional 1,020 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of Vestis by 11.1% in the fourth quarter. Bank of Montreal Can now owns 15,315 shares of the company’s stock worth $233,000 after buying an additional 1,534 shares in the last quarter. Finally, KBC Group NV lifted its stake in shares of Vestis by 51.9% in the third quarter. KBC Group NV now owns 4,741 shares of the company’s stock worth $71,000 after buying an additional 1,619 shares in the last quarter. Hedge funds and other institutional investors own 97.40% of the company’s stock.

About Vestis

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.