Vestis (NYSE:VSTS) Hits New 12-Month Low Following Analyst Downgrade

Vestis Co. (NYSE:VSTS)’s share price 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 traded. The stock had previously closed at $9.04.

Other equities research analysts have also issued reports about the company. The Goldman Sachs Group decreased their price objective on Vestis from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. Robert W. Baird decreased their price target 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. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat.com, Vestis has a consensus rating of “Hold” and a consensus price target of $13.08.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its position in Vestis by 66.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 73,271 shares of the company’s stock worth $1,117,000 after acquiring an additional 29,319 shares in the last quarter. QSM Asset Management Ltd acquired a new position in Vestis during the 4th quarter valued at $6,560,000. Pullen Investment Management LLC bought a new stake in shares of Vestis in the fourth quarter valued at about $918,000. Mackenzie Financial Corp bought a new stake in shares of Vestis in the 4th quarter worth approximately $300,000. Finally, Toronto Dominion Bank acquired a new stake in Vestis during the fourth quarter worth $154,000. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Vestis Stock Performance

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

Vestis (NYSE:VSTS) last posted its quarterly earnings data on Friday, January 31st. The company reported $0.14 earnings per share 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 quarter last year, the business earned $0.22 earnings per share. As a group, equities analysts predict that Vestis Co. will post 0.7 EPS for the current year.

Vestis Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Friday, February 21st were paid a $0.035 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.14 annualized dividend and a dividend yield of 1.77%. Vestis’s dividend payout ratio (DPR) is currently 175.00%.

About Vestis

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.