Vestis (NYSE:VSTS) Posts Quarterly Earnings Results, Misses Estimates By $0.09 EPS

Vestis (NYSE:VSTS) posted its quarterly earnings results on Thursday. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.09), Briefing.com reports. The firm had revenue of $705.37 million during the quarter, compared to analyst estimates of $722.54 million. The firm’s revenue for the quarter was up .9% compared to the same quarter last year.

Vestis Stock Down 7.4 %

Shares of VSTS opened at $9.41 on Friday. The company has a quick ratio of 2.23, a current ratio of 2.51 and a debt-to-equity ratio of 1.69. Vestis has a fifty-two week low of $8.92 and a fifty-two week high of $22.37. The firm’s 50 day moving average price is $18.38 and its 200 day moving average price is $18.69.

Vestis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were paid a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 1.49%. The ex-dividend date was Thursday, March 14th.

Insiders Place Their Bets

In related news, CEO Kim Scott bought 15,000 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was purchased at an average cost of $19.14 per share, for a total transaction of $287,100.00. Following the completion of the acquisition, the chief executive officer now owns 183,131 shares in the company, valued at approximately $3,505,127.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. The Goldman Sachs Group initiated coverage on shares of Vestis in a report on Thursday, January 25th. They issued a “neutral” rating and a $22.00 price objective for the company. Stifel Nicolaus reaffirmed a “hold” rating on shares of Vestis in a research report on Friday. Barclays cut their target price on Vestis from $19.00 to $10.00 and set an “underweight” rating for the company in a research note on Friday. Wolfe Research started coverage on Vestis in a research report on Thursday, January 11th. They issued an “outperform” rating and a $24.00 target price on the stock. Finally, 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 report on Friday. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. According to MarketBeat, Vestis currently has a consensus rating of “Hold” and a consensus target price of $19.33.

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.