Vestis (NYSE:VSTS) Hits New 52-Week Low - Here's What Happened

Vestis Co. (NYSE:VSTS - Get Free Report) reached a new 52-week low on Thursday . The company traded as low as $7.35 and last traded at $7.54, with a volume of 36976 shares traded. The stock had previously closed at $7.44.

Wall Street Analyst Weigh In

VSTS has been the topic of several analyst reports. The Goldman Sachs Group reduced their price target on Vestis from $15.00 to $13.00 and set a "neutral" rating on the stock in a report on Monday, March 17th. Barclays dropped their price target on shares of Vestis from $13.00 to $10.00 and set an "underweight" rating for the company in a research note on Friday, April 4th. Finally, Robert W. Baird reduced their target price on Vestis from $17.00 to $13.00 and set a "neutral" rating on the stock in a research report on Thursday, March 20th. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $13.08.

Vestis Stock Up 3.4 %

The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 100.26 and a beta of 1.55. The firm has a 50-day moving average of $10.40 and a 200 day moving average of $13.52. The company has a current ratio of 1.80, a quick ratio of 1.43 and a debt-to-equity ratio of 1.39.

Vestis (NYSE:VSTS - Get Free Report) last issued its earnings results on Friday, January 31st. The company reported $0.14 earnings per share for the quarter, topping 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 business earned $0.22 earnings per share. On average, sell-side analysts anticipate that Vestis Co. will post 0.7 earnings per share for the current year.

Vestis Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Friday, February 21st were given a dividend of $0.035 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.75%. Vestis's payout ratio is 175.00%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of VSTS. GAMMA Investing LLC boosted its position in Vestis by 17.9% during the fourth quarter. GAMMA Investing LLC now owns 4,670 shares of the company's stock valued at $71,000 after buying an additional 710 shares during the period. Gamco Investors INC. ET AL boosted its stake in Vestis by 2.0% during the fourth quarter. Gamco Investors INC. ET AL now owns 45,350 shares of the company's stock worth $691,000 after buying an additional 875 shares during the period. Bank of Montreal Can grew its stake in Vestis by 11.1% in the fourth quarter. Bank of Montreal Can now owns 15,315 shares of the company's stock worth $233,000 after purchasing an additional 1,534 shares in the last quarter. Swiss National Bank grew its position in shares of Vestis by 0.7% in the 4th quarter. Swiss National Bank now owns 232,750 shares of the company's stock worth $3,547,000 after buying an additional 1,700 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in Vestis by 3.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 45,687 shares of the company's stock worth $681,000 after purchasing an additional 1,735 shares during the last quarter. 97.40% of the stock is owned by institutional investors.

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.