Vestis (NYSE:VSTS) Earns "Sell (D)" Rating from Weiss Ratings

Key Points

• Vestis has received a "sell (D)" rating from Weiss Ratings, reflecting analysts' concerns about the company's stock performance.
• JPMorgan Chase lowered its price objective on Vestis from $6.00 to $5.50, while Wall Street Zen upgraded the stock to a "hold" rating.
• Vestis recently reported a negative net margin of 1.11% and a year-over-year revenue decline of 3.5%, indicating ongoing financial challenges.

Vestis (NYSE:VSTS - Get Free Report)'s stock had its "sell (d)" rating reiterated by equities research analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Other equities analysts also recently issued research reports about the stock. JPMorgan Chase & Co. cut their price objective on shares of Vestis from $6.00 to $5.50 and set an "underweight" rating for the company in a research report on Thursday, August 7th. Wall Street Zen raised shares of Vestis from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Two equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Vestis currently has an average rating of "Strong Sell" and a consensus target price of $9.13.

Vestis Stock Performance

Vestis stock traded down $0.02 during trading hours on Wednesday, reaching $5.06. 747,679 shares of the stock were exchanged, compared to its average volume of 2,320,410. The stock has a market cap of $666.45 million, a P/E ratio of -21.98 and a beta of 0.97. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.42 and a current ratio of 1.84. Vestis has a 52-week low of $3.98 and a 52-week high of $17.83. The firm's 50 day moving average is $4.69 and its 200 day moving average is $6.22.

Vestis (NYSE:VSTS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.05 EPS for the quarter, hitting analysts' consensus estimates of $0.05. The company had revenue of $673.80 million during the quarter, compared to the consensus estimate of $673.65 million. Vestis had a negative net margin of 1.11% and a positive return on equity of 3.76%. Vestis's quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.16 EPS. Analysts predict that Vestis will post 0.7 EPS for the current fiscal year.

Institutional Investors Weigh In On Vestis

Large investors have recently added to or reduced their stakes in the business. Copeland Capital Management LLC increased its stake in Vestis by 33.0% during the first quarter. Copeland Capital Management LLC now owns 5,428 shares of the company's stock valued at $54,000 after purchasing an additional 1,346 shares during the last quarter. Landscape Capital Management L.L.C. lifted its holdings in Vestis by 10.5% in the first quarter. Landscape Capital Management L.L.C. now owns 18,447 shares of the company's stock worth $183,000 after purchasing an additional 1,753 shares during the period. Federated Hermes Inc. lifted its holdings in Vestis by 2.0% in the 1st quarter. Federated Hermes Inc. now owns 121,589 shares of the company's stock valued at $1,204,000 after acquiring an additional 2,352 shares during the last quarter. KBC Group NV lifted its holdings in Vestis by 54.2% in the 1st quarter. KBC Group NV now owns 7,309 shares of the company's stock valued at $72,000 after acquiring an additional 2,568 shares during the last quarter. Finally, Illinois Municipal Retirement Fund lifted its holdings in Vestis by 4.6% in the 1st quarter. Illinois Municipal Retirement Fund now owns 62,177 shares of the company's stock valued at $616,000 after acquiring an additional 2,727 shares during the last quarter. 97.40% of the stock is owned by institutional investors and hedge funds.

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.

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