Vestis (NYSE:VSTS) Sets New 1-Year Low - Here's What Happened

Key Points

• Vestis Corporation's stock reached a new **52-week low** of $4.32, closing slightly higher at $4.40 with a trading volume of 548,268 shares.
• Several analysts have downgraded their ratings on Vestis, with Barclays lowering its price target from **$10.00 to $5.00**, while the consensus price target sits at **$9.13**.
• The company's latest earnings report reflected a **3.5% decline in revenue** year-over-year, reporting $673.80 million for the quarter, consistent with analyst estimates.

Shares of Vestis Corporation (NYSE:VSTS - Get Free Report) hit a new 52-week low during trading on Wednesday . The company traded as low as $4.32 and last traded at $4.40, with a volume of 548268 shares traded. The stock had previously closed at $4.50.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on VSTS shares. Wall Street Zen raised shares of Vestis from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Barclays reduced their price target on shares of Vestis from $10.00 to $5.00 and set an "underweight" rating for the company in a report on Friday, May 9th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Vestis from $6.00 to $5.50 and set an "underweight" rating for the company in a research note on Thursday, August 7th. Two investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Reduce" and a consensus price target of $9.13.

Vestis Price Performance

The company has a debt-to-equity ratio of 1.45, a current ratio of 1.84 and a quick ratio of 1.42. The firm has a market capitalization of $575.88 million, a P/E ratio of -18.98 and a beta of 0.98. The stock's fifty day simple moving average is $5.56 and its 200 day simple moving average is $7.49.

Vestis (NYSE:VSTS - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.05. Vestis had a positive return on equity of 3.76% and a negative net margin of 1.11%.The company had revenue of $673.80 million for the quarter, compared to analyst estimates of $673.65 million. During the same period in the prior year, the company posted $0.16 EPS. The firm's quarterly revenue was down 3.5% compared to the same quarter last year. On average, equities research analysts predict that Vestis Corporation will post 0.7 EPS for the current year.

Institutional Investors Weigh In On Vestis

A number of institutional investors have recently modified their holdings of the business. Northern Trust Corp grew its stake in Vestis by 3.7% in the 4th quarter. Northern Trust Corp now owns 1,067,696 shares of the company's stock valued at $16,272,000 after acquiring an additional 38,056 shares during the period. BNP Paribas Financial Markets acquired a new stake in shares of Vestis in the fourth quarter valued at about $1,357,000. Captrust Financial Advisors grew its position in shares of Vestis by 81.9% in the fourth quarter. Captrust Financial Advisors now owns 24,505 shares of the company's stock valued at $373,000 after purchasing an additional 11,034 shares during the period. Caption Management LLC acquired a new stake in shares of Vestis in the fourth quarter valued at about $363,000. Finally, Driehaus Capital Management LLC acquired a new stake in shares of Vestis in the fourth quarter valued at about $4,883,000. 97.40% of the stock is currently owned by institutional investors and hedge funds.

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.

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