Vestis (NYSE:VSTS) Hits New 52-Week Low at $11.85

Vestis Co. (NYSE:VSTS)’s stock price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $11.85 and last traded at $12.00, with a volume of 3294384 shares traded. The stock had previously closed at $18.47.

Analysts Set New Price Targets

A number of equities analysts have recently commented on VSTS shares. Wolfe Research assumed coverage on shares of Vestis in a report on Thursday, January 11th. They set an “outperform” rating and a $24.00 price objective for the company. The Goldman Sachs Group initiated coverage on Vestis in a report on Thursday, January 25th. They set a “neutral” rating and a $22.00 price objective on the stock. Finally, Barclays cut Vestis from an “equal weight” rating to an “underweight” rating and increased their target price for the stock from $17.00 to $19.00 in a report on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $22.56.

Vestis Trading Down 41.7 %

The company’s 50 day simple moving average is $18.78 and its two-hundred day simple moving average is $18.77. The company has a debt-to-equity ratio of 1.73, a quick ratio of 2.23 and a current ratio of 2.61.

Vestis (NYSE:VSTS) last announced its earnings results on Wednesday, February 7th. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). The firm had revenue of $717.90 million during the quarter, compared to the consensus estimate of $724.72 million. The company’s revenue was up 2.5% on a year-over-year basis. As a group, equities analysts anticipate that Vestis Co. will post 1.03 EPS for the current year.

Vestis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were paid a dividend of $0.035 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.14 annualized dividend and a dividend yield of 1.30%.

Insider Activity

In other news, CEO Kim Scott purchased 15,000 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were acquired at an average price of $19.14 per share, for a total transaction of $287,100.00. Following the completion of the acquisition, the chief executive officer now directly owns 183,131 shares in the company, valued at $3,505,127.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Hedge Funds Weigh In On Vestis

A number of hedge funds and other institutional investors have recently bought and sold shares of VSTS. Sound Income Strategies LLC bought a new position in Vestis in the fourth quarter valued at approximately $25,000. Parkside Financial Bank & Trust bought a new position in Vestis during the fourth quarter worth about $25,000. CI Investments Inc. bought a new position in Vestis during the third quarter worth about $28,000. Daiwa Securities Group Inc. bought a new position in Vestis during the fourth quarter worth about $34,000. Finally, TFO Wealth Partners LLC bought a new position in Vestis during the fourth quarter worth about $42,000. 97.40% of the stock is owned by institutional investors.

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.