Vestis (NYSE:VSTS) Reaches New 1-Year Low on Analyst Downgrade

by · The Cerbat Gem

Vestis Co. (NYSE:VSTS – Get Free Report) shares hit a new 52-week low during trading 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 trading hands. The stock had previously closed at $9.04.

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

Get Our Latest Analysis on Vestis

Institutional Inflows and Outflows

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

Vestis Stock Performance

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 stock’s 50 day moving average price is $12.27 and its 200 day moving average price is $14.24. The company has a market capitalization of $1.08 billion, a P/E ratio of 102.83 and a beta of 1.40.

Vestis (NYSE:VSTS – Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the company earned $0.22 EPS. As a group, equities analysts expect that Vestis Co. will post 0.7 EPS for the current year.

Vestis Dividend Announcement

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. The ex-dividend date was Friday, February 21st. This represents a $0.14 annualized dividend and a yield of 1.70%. Vestis’s dividend payout ratio is currently 175.00%.

About Vestis

(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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