Vestis (NYSE:VSTS) Sets New 1-Year Low After Analyst Downgrade

Shares of Vestis Co. (NYSE:VSTS) hit a new 52-week low on Friday after Barclays lowered their price target on the stock from $13.00 to $10.00. Barclays currently has an underweight rating on the stock. Vestis traded as low as $8.20 and last traded at $8.27, with a volume of 409138 shares changing hands. The stock had previously closed at $9.04.

A number of other analysts have also commented on the company. Robert W. Baird decreased their price objective on Vestis from $17.00 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday, March 20th. The Goldman Sachs Group decreased their price target on shares of Vestis from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Monday, March 17th. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $13.08.

Hedge Funds Weigh In On Vestis

Institutional investors and hedge funds have recently bought and sold shares of the stock. True Wealth Design LLC acquired a new stake in shares of Vestis in the 4th quarter worth approximately $29,000. Spire Wealth Management bought a new stake in Vestis during the fourth quarter worth approximately $29,000. Nomura Asset Management Co. Ltd. lifted its position in Vestis by 104.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 2,000 shares of the company’s stock worth $30,000 after purchasing an additional 1,020 shares during the period. Smartleaf Asset Management LLC boosted its stake in Vestis by 548.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,510 shares of the company’s stock valued at $38,000 after purchasing an additional 2,123 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Vestis during the 3rd quarter valued at $51,000. Institutional investors own 97.40% of the company’s stock.

Vestis Stock Down 12.3 %

The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.43 and a current ratio of 1.80. The company has a market cap of $1.04 billion, a P/E ratio of 99.15 and a beta of 1.40. The stock has a 50 day moving average price of $12.10 and a 200 day moving average price of $14.19.

Vestis (NYSE:VSTS) last issued its quarterly earnings results on Friday, January 31st. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.12 by $0.02. Vestis had a net margin of 0.34% and a return on equity of 7.91%. During the same period in the previous year, the firm earned $0.22 EPS. Research analysts expect that Vestis Co. will post 0.7 earnings per share for the current fiscal year.

Vestis Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Friday, February 21st were paid a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 1.77%. The ex-dividend date was Friday, February 21st. Vestis’s dividend payout ratio is presently 175.00%.

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.