Vestis (NYSE:VSTS) Issues Earnings Results

Key Points

• Vestis reported quarterly EPS of $0.18, beating analysts’ consensus estimate of $0.10 by $0.08. Revenue was $661.66 million, slightly below expectations of $668.94 million.
• Shares opened at $13.97 and traded down 1.7%; Vestis has a market capitalization of approximately $1.85 billion and a negative P/E ratio of -99.78.
• Analyst sentiment remains cautious, with an average rating of “Reduce” and an average price target of $9.50. Institutional investors and hedge funds own approximately 97.4% of the company’s stock.

Vestis (NYSE:VSTS - Get Free Report) issued its earnings results on Tuesday. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.08, FiscalAI reports. Vestis had a negative net margin of 0.63% and a positive return on equity of 5.27%. The company had revenue of $661.66 million during the quarter, compared to analysts' expectations of $668.94 million.

Vestis Trading Down 1.7%

Shares of VSTS opened at $13.97 on Tuesday. The stock has a fifty day moving average of $14.19 and a two-hundred day moving average of $10.63. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.69 and a current ratio of 2.13. The company has a market capitalization of $1.85 billion, a PE ratio of -99.78 and a beta of 0.97. Vestis has a fifty-two week low of $3.98 and a fifty-two week high of $16.90.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Barclays upped their price target on Vestis from $6.00 to $9.00 and gave the stock an "underweight" rating in a report on Friday, May 15th. Weiss Ratings cut Vestis from a "sell (d)" rating to a "sell (d-)" rating in a report on Wednesday, May 13th. William Blair upgraded Vestis from a "market perform" rating to an "outperform" rating in a research report on Tuesday, May 12th. The Goldman Sachs Group reissued a "sell" rating and issued a $7.50 target price on shares of Vestis in a report on Wednesday, May 13th. Finally, Stifel Nicolaus raised their price target on Vestis from $8.50 to $11.00 and gave the company a "hold" rating in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Reduce" and an average target price of $9.50.

Institutional Investors Weigh In On Vestis

Several hedge funds have recently made changes to their positions in VSTS. State of Wyoming increased its stake in Vestis by 10.4% in the fourth quarter. State of Wyoming now owns 15,145 shares of the company's stock valued at $101,000 after purchasing an additional 1,428 shares during the last quarter. Captrust Financial Advisors boosted its stake in Vestis by 15.6% in the 2nd quarter. Captrust Financial Advisors now owns 20,599 shares of the company's stock worth $118,000 after buying an additional 2,787 shares during the last quarter. Mariner LLC grew its holdings in Vestis by 3.2% in the 3rd quarter. Mariner LLC now owns 123,981 shares of the company's stock valued at $562,000 after buying an additional 3,798 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Vestis by 471.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,456 shares of the company's stock valued at $31,000 after buying an additional 4,502 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in shares of Vestis by 147.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,006 shares of the company's stock valued at $53,000 after acquiring an additional 4,766 shares during the last quarter. Institutional investors and hedge funds own 97.40% of the company's stock.

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. The company serves manufacturing, hospitality, retail, food processing, food service, pharmaceuticals, healthcare, automotive, and cleanroom industries.

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