Vestis Co. (NYSE:VSTS – Get Free Report) announced a quarterly dividend on Monday, August 19th, Zacks reports. Investors of record on Friday, September 13th will be paid a dividend of 0.035 per share on Thursday, October 3rd. This represents a $0.14 annualized dividend and a yield of 0.95%. The ex-dividend date is Friday, September 13th.
Vestis has a payout ratio of 17.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Vestis to earn $0.82 per share next year, which means the company should continue to be able to cover its $0.14 annual dividend with an expected future payout ratio of 17.1%.
Vestis Stock Performance
VSTS stock opened at $14.66 on Thursday. The company has a fifty day simple moving average of $13.04 and a two-hundred day simple moving average of $14.58. Vestis has a 52 week low of $8.92 and a 52 week high of $22.37. The company has a current ratio of 2.37, a quick ratio of 2.02 and a debt-to-equity ratio of 1.67.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on VSTS shares. The Goldman Sachs Group raised their target price on shares of Vestis from $12.50 to $13.80 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. William Blair assumed coverage on Vestis in a research report on Friday, May 31st. They set a “market perform” rating for the company. Robert W. Baird downgraded Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 price target on the stock. in a report on Thursday, August 8th. Finally, Baird R W lowered Vestis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Vestis has an average rating of “Hold” and an average target price of $16.69.
Read Our Latest Analysis on VSTS
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.
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