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

Vestis Co. (NYSE:VSTS)’s share price 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 Analyst Weigh In

A number of research analysts recently weighed in on VSTS shares. Barclays increased their price objective on shares of Vestis from $10.00 to $13.00 and gave the company an “underweight” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. increased their price objective on shares of Vestis from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. The Goldman Sachs Group lowered their price objective on shares of Vestis from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, Robert W. Baird lowered their price objective on shares of Vestis from $17.00 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $13.68.

Vestis Trading Down 2.3 %

The firm has a market capitalization 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 200 day simple moving average is $14.56.

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

Vestis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders 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 dividend yield of 1.38%. Vestis’s dividend payout ratio (DPR) is presently 175.00%.

Institutional Trading of Vestis

A number of hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC increased 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 purchasing an additional 710 shares in the last quarter. Gamco Investors INC. ET AL increased 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 purchasing an additional 875 shares in the last quarter. Nomura Asset Management Co. Ltd. increased 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 purchasing an additional 1,020 shares in the last quarter. Bank of Montreal Can increased 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 purchasing an additional 1,534 shares in the last quarter. Finally, KBC Group NV increased 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 purchasing an additional 1,619 shares in the last quarter. 97.40% of the stock is owned by hedge funds and other institutional investors.

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.