Vestis’ (VSTS) “Sell (D)” Rating Reiterated at Weiss Ratings

Weiss Ratings reiterated their sell (d) rating on shares of Vestis (NYSE:VSTS) in a research report released on Friday,Weiss Ratings reports.

A number of other research firms also recently issued reports on VSTS. JPMorgan Chase & Co. reduced their price target on shares of Vestis from $6.00 to $5.50 and set an “underweight” rating on the stock in a research report on Thursday, August 7th. Wall Street Zen upgraded shares of Vestis from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Two investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Strong Sell” and a consensus target price of $9.13.

Vestis Trading Up 2.4%

Vestis stock opened at $5.26 on Friday. The firm’s 50-day moving average is $4.61 and its 200-day moving average is $5.81. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.42 and a current ratio of 1.84. Vestis has a 1 year low of $3.98 and a 1 year high of $17.83. The company has a market cap of $692.82 million, a P/E ratio of -22.85 and a beta of 0.97.

Vestis (NYSE:VSTS) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.05 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.05. Vestis had a negative net margin of 1.11% and a positive return on equity of 3.76%. The company had revenue of $673.80 million for the quarter, compared to the consensus estimate of $673.65 million. During the same period last year, the firm posted $0.16 EPS. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. On average, equities analysts expect that Vestis will post 0.7 earnings per share for the current year.

Institutional Trading of Vestis

Several hedge funds have recently bought and sold shares of VSTS. Copeland Capital Management LLC raised its holdings in shares of Vestis by 33.0% in the 1st quarter. Copeland Capital Management LLC now owns 5,428 shares of the company’s stock worth $54,000 after purchasing an additional 1,346 shares in the last quarter. Landscape Capital Management L.L.C. raised its holdings in shares of Vestis by 10.5% in the 1st quarter. Landscape Capital Management L.L.C. now owns 18,447 shares of the company’s stock worth $183,000 after purchasing an additional 1,753 shares in the last quarter. Abacus Planning Group Inc. raised its holdings in shares of Vestis by 8.9% in the 3rd quarter. Abacus Planning Group Inc. now owns 28,058 shares of the company’s stock worth $127,000 after purchasing an additional 2,294 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of Vestis by 2.0% in the 1st quarter. Federated Hermes Inc. now owns 121,589 shares of the company’s stock worth $1,204,000 after purchasing an additional 2,352 shares in the last quarter. Finally, KBC Group NV raised its holdings in shares of Vestis by 54.2% in the 1st quarter. KBC Group NV now owns 7,309 shares of the company’s stock worth $72,000 after purchasing an additional 2,568 shares in the last quarter. 97.40% of the stock is currently owned by 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.