Vestis Co. (NYSE:VSTS) Short Interest Down 28.6% in September

by · The Markets Daily

Vestis Co. (NYSE:VSTS – Get Free Report) was the recipient of a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 3,970,000 shares, a drop of 28.6% from the September 15th total of 5,560,000 shares. Currently, 3.0% of the shares of the stock are sold short. Based on an average trading volume of 2,250,000 shares, the days-to-cover ratio is presently 1.8 days.

Vestis Price Performance

NYSE VSTS traded up $0.18 during trading hours on Friday, reaching $14.94. The company had a trading volume of 792,093 shares, compared to its average volume of 2,585,639. Vestis has a 1-year low of $8.92 and a 1-year high of $22.37. The stock has a 50-day moving average of $14.18 and a 200 day moving average of $14.10. The company has a current ratio of 2.37, a quick ratio of 2.02 and a debt-to-equity ratio of 1.67.

Vestis (NYSE:VSTS – Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.10 by $0.06. The firm had revenue of $698.20 million for the quarter, compared to analyst estimates of $688.33 million. Vestis had a net margin of 4.13% and a return on equity of 18.00%. Vestis’s quarterly revenue was down 1.6% on a year-over-year basis. Analysts expect that Vestis will post 0.64 earnings per share for the current year.

Vestis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Investors of record on Friday, September 13th were issued a $0.035 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.14 annualized dividend and a dividend yield of 0.94%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on VSTS. Robert W. Baird cut Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 target price for the company. in a report on Thursday, August 8th. Baird R W downgraded Vestis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, The Goldman Sachs Group lifted their target price on shares of Vestis from $12.50 to $13.80 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $16.69.

Get Our Latest Analysis on Vestis

Hedge Funds Weigh In On Vestis

Several hedge funds have recently bought and sold shares of VSTS. Vanguard Group Inc. acquired a new position in Vestis during the 4th quarter worth about $302,586,000. Wellington Management Group LLP purchased a new stake in Vestis during the 4th quarter worth about $56,431,000. AQR Capital Management LLC increased its holdings in Vestis by 223.0% during the 2nd quarter. AQR Capital Management LLC now owns 3,753,889 shares of the company’s stock worth $45,197,000 after purchasing an additional 2,591,593 shares during the period. Nomura Holdings Inc. purchased a new stake in Vestis during the 4th quarter worth about $29,995,000. Finally, Madison Avenue Partners LP increased its holdings in Vestis by 1,124.5% during the 4th quarter. Madison Avenue Partners LP now owns 1,346,980 shares of the company’s stock worth $28,475,000 after purchasing an additional 1,236,980 shares during the period. Institutional investors and hedge funds own 97.40% of the company’s stock.

Vestis Company Profile

(Get Free Report)

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.

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