Vestis (NYSE:VSTS) Lowered to “Neutral” at Redburn Atlantic

Redburn Atlantic cut shares of Vestis (NYSE:VSTS) from a buy rating to a neutral rating in a research report sent to investors on Tuesday morning, MarketBeat reports. Redburn Atlantic currently has $13.40 price objective on the stock.

Other equities analysts also recently issued research reports about the stock. Wolfe Research assumed coverage on shares of Vestis in a research note on Thursday, January 11th. They set an outperform rating and a $24.00 price objective on the stock. The Goldman Sachs Group lowered their price objective on shares of Vestis from $20.00 to $11.00 and set a neutral rating for the company in a research note on Monday. Stifel Nicolaus reaffirmed a hold rating on shares of Vestis in a research report on Friday, May 3rd. Robert W. Baird lowered their price target on Vestis from $24.00 to $13.00 and set an outperform rating for the company in a research report on Friday, May 3rd. Finally, Barclays cut their price objective on Vestis from $19.00 to $10.00 and set an underweight rating on the stock in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $16.38.

Vestis Trading Up 3.3 %

Shares of NYSE:VSTS opened at $10.24 on Tuesday. The firm has a 50 day simple moving average of $18.00 and a 200-day simple moving average of $18.66. Vestis has a twelve month low of $8.92 and a twelve month high of $22.37. The company has a debt-to-equity ratio of 1.69, a quick ratio of 2.16 and a current ratio of 2.51.

Vestis (NYSE:VSTS) last issued its earnings results on Thursday, May 2nd. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.09). The business had revenue of $705.37 million for the quarter, compared to the consensus estimate of $722.54 million. The company’s revenue for the quarter was up .9% compared to the same quarter last year. On average, research analysts expect that Vestis will post 1.03 EPS for the current year.

Vestis Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Friday, March 15th were paid a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date was Thursday, March 14th.

Insider Activity

In other Vestis news, CEO Kim Scott purchased 15,000 shares of Vestis stock in a transaction on Friday, February 9th. The stock was bought at an average price of $19.14 per share, for a total transaction of $287,100.00. Following the transaction, the chief executive officer now owns 183,131 shares of the company’s stock, valued at approximately $3,505,127.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Vestis news, Director James Phillip Holloman acquired 20,200 shares of Vestis stock in a transaction dated Friday, May 3rd. The stock was bought at an average price of $9.93 per share, for a total transaction of $200,586.00. Following the transaction, the director now owns 44,132 shares in the company, valued at approximately $438,230.76. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Kim Scott bought 15,000 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was acquired at an average price of $19.14 per share, for a total transaction of $287,100.00. Following the completion of the acquisition, the chief executive officer now directly owns 183,131 shares in the company, valued at $3,505,127.34. The disclosure for this purchase can be found here.

Institutional Investors Weigh In On Vestis

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. acquired a new stake in Vestis during the 4th quarter valued at $302,586,000. Capital International Investors acquired a new position in shares of Vestis in the fourth quarter worth $125,586,000. Channing Capital Management LLC acquired a new stake in Vestis during the fourth quarter valued at $72,529,000. Wellington Management Group LLP purchased a new position in Vestis in the fourth quarter valued at about $56,431,000. Finally, Victory Capital Management Inc. acquired a new position in Vestis in the 4th quarter worth about $48,292,000. 97.40% of the stock is owned by hedge funds and other institutional investors.

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.