Vestis (NYSE:VSTS) Stock Price Down 5.6% - Time to Sell?

Key Points

• Vestis shares fell 5.6% to about $13.09, with trading volume below average. The stock remains above its 50-day moving average of $14.19? Actually it traded below that level, while its 200-day average is $10.63.
• Analyst sentiment is largely negative: Vestis has an average “Reduce” rating, with eight analysts spanning one Strong Buy, one Buy, two Holds and four Sells. The average price target is $9.50, well below the recent share price.
• The company beat quarterly EPS expectations, reporting $0.18 versus the $0.10 consensus, but revenue of $661.66 million came in below estimates. Institutional investors own a significant 97.4% of outstanding shares.

Vestis Corporation (NYSE:VSTS - Get Free Report) fell 5.6% on Tuesday . The company traded as low as $13.03 and last traded at $13.0910. Approximately 1,326,252 shares were traded during mid-day trading, a decline of 19% from the average session volume of 1,632,456 shares. The stock had previously closed at $13.87.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Zacks Research upgraded shares of Vestis from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 10th. The Goldman Sachs Group reiterated a "sell" rating and issued a $7.50 price target on shares of Vestis in a research report on Wednesday, May 13th. Robert W. Baird increased their price target on shares of Vestis from $10.00 to $14.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 13th. Weiss Ratings downgraded shares of Vestis from a "sell (d)" rating to a "sell (d-)" rating in a research report on Wednesday, May 13th. Finally, Stifel Nicolaus lifted their price objective on shares of Vestis from $8.50 to $11.00 and gave the company a "hold" rating in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, Vestis currently has an average rating of "Reduce" and an average price target of $9.50.

Vestis Trading Down 4.4%

The company has a fifty day moving average of $14.19 and a two-hundred day moving average of $10.63. The company has a quick ratio of 1.69, a current ratio of 2.13 and a debt-to-equity ratio of 1.44. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of -94.18 and a beta of 0.97.

Vestis (NYSE:VSTS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.08. The company had revenue of $661.66 million for the quarter, compared to analysts' expectations of $668.94 million. Vestis had a negative net margin of 0.63% and a positive return on equity of 5.27%. On average, research analysts expect that Vestis Corporation will post 0.52 EPS for the current year.

Institutional Trading of Vestis

Several hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC grew its holdings in Vestis by 471.9% during the second quarter. EverSource Wealth Advisors LLC now owns 5,456 shares of the company's stock worth $31,000 after acquiring an additional 4,502 shares during the period. Osaic Holdings Inc. lifted its holdings in Vestis by 703.2% in the second quarter. Osaic Holdings Inc. now owns 5,743 shares of the company's stock valued at $33,000 after acquiring an additional 5,028 shares during the period. Farther Finance Advisors LLC lifted its holdings in Vestis by 176.1% in the fourth quarter. Farther Finance Advisors LLC now owns 5,193 shares of the company's stock valued at $35,000 after acquiring an additional 3,312 shares during the period. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Vestis during the 4th quarter worth $36,000. Finally, PNC Financial Services Group Inc. boosted its position 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 worth $53,000 after purchasing an additional 4,766 shares in the last quarter. 97.40% of the stock is owned by institutional investors and hedge funds.

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

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