Vestis (NYSE:VSTS) Announces Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Vestis (NYSE:VSTS) announced its quarterly earnings results on Tuesday. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.08, FiscalAI reports. The company had revenue of $661.66 million for the quarter, compared to analyst estimates of $668.94 million. Vestis had a negative net margin of 0.63% and a positive return on equity of 5.27%.

Vestis Trading Down 1.7%

NYSE VSTS opened at $13.97 on Tuesday. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of -99.78 and a beta of 0.97. The company has a debt-to-equity ratio of 1.44, a current ratio of 2.13 and a quick ratio of 1.69. Vestis has a 12 month low of $3.98 and a 12 month high of $16.90. The company’s fifty day moving average price is $14.19 and its two-hundred day moving average price is $10.63.

Institutional Investors Weigh In On Vestis

Institutional investors have recently modified their holdings of the stock. Captrust Financial Advisors boosted its holdings in shares of Vestis by 55.6% in the 4th quarter. Captrust Financial Advisors now owns 15,785 shares of the company’s stock valued at $105,000 after buying an additional 5,640 shares during the period. EntryPoint Capital LLC bought a new stake in shares of Vestis during the 4th quarter valued at about $113,000. Fox Run Management L.L.C. acquired a new stake in Vestis during the fourth quarter worth about $162,000. State of Wyoming raised its stake in Vestis by 10.4% during the fourth quarter. State of Wyoming now owns 15,145 shares of the company’s stock worth $101,000 after acquiring an additional 1,428 shares during the period. Finally, Orion Porfolio Solutions LLC acquired a new stake in Vestis during the second quarter worth about $183,000. Institutional investors and hedge funds own 97.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Weiss Ratings lowered Vestis from a “sell (d)” rating to a “sell (d-)” rating in a research note on Wednesday, May 13th. The Goldman Sachs Group restated a “sell” rating and issued a $7.50 price target on shares of Vestis in a report on Wednesday, May 13th. William Blair raised shares of Vestis from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 12th. Robert W. Baird boosted their price objective 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. Finally, Barclays increased their price objective on shares of Vestis from $6.00 to $9.00 and gave the stock an “underweight” rating in a research report on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $9.50.

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.