Vestis Co. (NYSE:VSTS - Get Free Report) Director Tracy C. Jokinen acquired 8,395 shares of Vestis stock in a transaction dated Friday, May 10th. The stock was bought at an average price of $11.69 per share, with a total value of $98,137.55. Following the completion of the purchase, the director now directly owns 29,161 shares in the company, valued at $340,892.09. The purchase was disclosed in a document filed with the SEC, which is available at this link.
Vestis Stock Down 0.8 %
Shares of VSTS stock traded down $0.09 during trading hours on Friday, reaching $11.49. 3,352,043 shares of the stock were exchanged, compared to its average volume of 2,390,703. The company has a debt-to-equity ratio of 1.69, a current ratio of 2.51 and a quick ratio of 2.16. Vestis Co. has a 12-month low of $8.92 and a 12-month high of $22.37. The company's 50-day moving average price is $17.69 and its 200-day moving average price is $18.55.
Vestis (NYSE:VSTS - Get Free Report) last released its earnings results on Thursday, May 2nd. The company reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.22 by ($0.09). The firm had revenue of $705.37 million during the quarter, compared to analysts' expectations of $722.54 million. The company's revenue was up .9% on a year-over-year basis. Analysts expect that Vestis Co. will post 1.03 earnings per share for the current fiscal year.
Vestis Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were given a dividend of $0.035 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.14 annualized dividend and a dividend yield of 1.22%.
Analyst Ratings Changes
A number of analysts have commented on VSTS shares. Wolfe Research initiated coverage on Vestis in a research report on Thursday, January 11th. They issued an "outperform" rating and a $24.00 price target for the company. Barclays reduced their price objective on shares of Vestis from $19.00 to $10.00 and set an "underweight" rating for the company in a research note on Friday, May 3rd. JPMorgan Chase & Co. cut shares of Vestis from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $22.00 to $11.00 in a research note on Friday, May 3rd. Stifel Nicolaus reiterated a "hold" rating on shares of Vestis in a research note on Friday, May 3rd. Finally, Redburn Atlantic downgraded Vestis from a "buy" rating to a "neutral" rating and set a $13.40 price objective on the stock. in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, Vestis presently has an average rating of "Hold" and an average price target of $16.38.
Check Out Our Latest Analysis on VSTS
Institutional Trading of Vestis
A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. purchased a new stake in Vestis in the 4th quarter valued at about $302,586,000. Capital International Investors bought a new position in Vestis in the fourth quarter worth approximately $125,586,000. Channing Capital Management LLC purchased a new position in Vestis during the 4th quarter worth $72,529,000. Wellington Management Group LLP purchased a new stake in shares of Vestis in the 4th quarter worth $56,431,000. Finally, Victory Capital Management Inc. bought a new position in shares of Vestis during the 4th quarter worth $48,292,000. 97.40% of the stock is owned by hedge funds and other institutional investors.
About Vestis
(
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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