Vestis (NYSE:VSTS) Shares Gap Down – Time to Sell?

Shares of Vestis Co. (NYSE:VSTS) 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.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Barclays raised their price target on Vestis from $10.00 to $13.00 and gave the stock an “underweight” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. raised their target price on Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Finally, The Goldman Sachs Group decreased their price target on Vestis from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Monday. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $13.68.

Vestis Trading Down 3.3 %

The stock has a market cap of $1.39 billion, a PE ratio of 132.58 and a beta of 1.40. 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 firm has a fifty day simple moving average of $13.76 and a two-hundred day simple moving average of $14.62.

Vestis (NYSE:VSTS) last announced its earnings results 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 period in the prior year, the company earned $0.22 EPS. As a group, equities analysts expect that Vestis Co. will post 0.7 earnings per share for the current fiscal year.

Vestis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Friday, February 21st were paid a $0.035 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.14 dividend on an annualized basis and a yield of 1.33%. Vestis’s dividend payout ratio (DPR) is currently 175.00%.

Institutional Trading of Vestis

A number of institutional investors have recently made changes to their positions in the stock. Brooklyn Investment Group bought a new stake in Vestis in the 3rd quarter worth $27,000. True Wealth Design LLC purchased a new stake in shares of Vestis during the fourth quarter worth about $29,000. Spire Wealth Management bought a new stake in shares of Vestis in the fourth quarter worth about $29,000. Nomura Asset Management Co. Ltd. increased its holdings in Vestis by 104.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,000 shares of the company’s stock valued at $30,000 after purchasing an additional 1,020 shares during the period. Finally, Smartleaf Asset Management LLC raised its position in Vestis by 548.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,510 shares of the company’s stock valued at $38,000 after purchasing an additional 2,123 shares during 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.