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

Vestis Co. (NYSE:VSTS - Get Free Report) shares hit a new 52-week low on Thursday . The company traded as low as $11.85 and last traded at $12.00, with a volume of 3294384 shares changing hands. The stock had previously closed at $18.47.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on VSTS shares. Barclays downgraded 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 research note on Wednesday, February 28th. Wolfe Research initiated coverage on Vestis in a report on Thursday, January 11th. They issued an "outperform" rating and a $24.00 target price for the company. Finally, The Goldman Sachs Group assumed coverage on shares of Vestis in a research report on Thursday, January 25th. They set a "neutral" rating and a $22.00 target price on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Vestis has an average rating of "Moderate Buy" and a consensus price target of $22.56.

Vestis Price Performance

The company has a debt-to-equity ratio of 1.73, a current ratio of 2.61 and a quick ratio of 2.23. The business has a 50-day moving average price of $18.78 and a two-hundred day moving average price of $18.77.

Vestis (NYSE:VSTS - Get Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $0.22 EPS for the quarter, missing analysts' consensus estimates of $0.23 by ($0.01). The company had revenue of $717.90 million for the quarter, compared to analysts' expectations of $724.72 million. The business's revenue was up 2.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Vestis Co. will post 1.03 earnings per share for the current fiscal year.

Vestis Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Friday, March 15th were given 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 1.37%.

Insider Buying and Selling at Vestis

In related news, CEO Kim Scott acquired 15,000 shares of the company's stock in a transaction dated Friday, February 9th. The stock was bought at an average price of $19.14 per share, with a total value of $287,100.00. Following the purchase, the chief executive officer now directly owns 183,131 shares in the company, valued at approximately $3,505,127.34. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Hedge Funds Weigh In On Vestis

Hedge funds and other institutional investors have recently made changes to their positions in the business. Parkside Financial Bank & Trust acquired a new stake in Vestis in the fourth quarter valued at approximately $25,000. Sound Income Strategies LLC purchased a new position in shares of Vestis in the fourth quarter valued at $25,000. CI Investments Inc. acquired a new stake in Vestis during the 3rd quarter valued at $28,000. Daiwa Securities Group Inc. purchased a new stake in Vestis during the 4th quarter worth $34,000. Finally, Wahed Invest LLC purchased a new stake in Vestis during the 4th quarter worth $42,000. Institutional investors and hedge funds own 97.40% of the company's stock.

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.