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Vestis (VSTS) Soars 5.1%: Is Further Upside Left in the Stock?
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VestisCorporation (VSTS - Free Report) shares soared 5.1% in the last trading session to close at $16.39. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 0.2% loss over the past four weeks.
Vestis’ rally is primarily driven by optimism about strength in its business due to healthy growth in its customer base. Also, the company’s focus on enhancing workforce productivity, optimizing network logistics, as well as managing operational costs and merchandise inventory, bodes well.
This provider of uniforms and workplace supplies is expected to post quarterly earnings of $0.12 per share in its upcoming report, which represents a year-over-year change of -45.5%. Revenues are expected to be $686.74 million, down 4.3% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Vestis, the consensus EPS estimate for the quarter has been revised 25% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on VSTS going forward to see if this recent jump can turn into more strength down the road.
Vestis is part of the Zacks Uniform and Related industry. UniFirst (UNF - Free Report) , another stock in the same industry, closed the last trading session 1.1% higher at $179.13. UNF has returned -9.6% in the past month.
UniFirst's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $2.27. Compared to the company's year-ago EPS, this represents a change of -4.6%. UniFirst currently boasts a Zacks Rank of #4 (Sell).
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Vestis (VSTS) Soars 5.1%: Is Further Upside Left in the Stock?
Vestis Corporation (VSTS - Free Report) shares soared 5.1% in the last trading session to close at $16.39. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 0.2% loss over the past four weeks.
Vestis’ rally is primarily driven by optimism about strength in its business due to healthy growth in its customer base. Also, the company’s focus on enhancing workforce productivity, optimizing network logistics, as well as managing operational costs and merchandise inventory, bodes well.
This provider of uniforms and workplace supplies is expected to post quarterly earnings of $0.12 per share in its upcoming report, which represents a year-over-year change of -45.5%. Revenues are expected to be $686.74 million, down 4.3% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Vestis, the consensus EPS estimate for the quarter has been revised 25% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on VSTS going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Vestis is part of the Zacks Uniform and Related industry. UniFirst (UNF - Free Report) , another stock in the same industry, closed the last trading session 1.1% higher at $179.13. UNF has returned -9.6% in the past month.
UniFirst's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $2.27. Compared to the company's year-ago EPS, this represents a change of -4.6%. UniFirst currently boasts a Zacks Rank of #4 (Sell).