Vestis (NYSE:VSTS) Reaches New 52-Week Low – Here’s What Happened

Vestis Co. (NYSE:VSTS) shares hit 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 changing hands. The stock had previously closed at $7.44.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on VSTS shares. Robert W. Baird cut their target price on Vestis from $17.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, March 20th. The Goldman Sachs Group cut 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. Finally, Barclays lowered their price target on shares of Vestis from $13.00 to $10.00 and set an “underweight” rating on the stock in a research note on Friday, April 4th. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $13.08.

Vestis Trading Up 3.0 %

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 business has a 50-day moving average price of $10.52 and a two-hundred day moving average price of $13.58. The firm has a market cap of $1.01 billion, a PE ratio of 95.82 and a beta of 1.55.

Vestis (NYSE:VSTS) last announced its earnings results on Friday, January 31st. The company reported $0.14 earnings per share (EPS) 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 company earned $0.22 earnings per share. Analysts forecast that Vestis Co. will post 0.7 EPS for the current year.

Vestis Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Friday, February 21st were given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend was Friday, February 21st. Vestis’s payout ratio is 175.00%.

Institutional Trading of Vestis

Several institutional investors and hedge funds have recently made changes to their positions in VSTS. Pacer Advisors Inc. acquired a new position in Vestis in the 4th quarter valued at about $210,766,000. AQR Capital Management LLC grew its holdings in shares of Vestis by 47.4% during the fourth quarter. AQR Capital Management LLC now owns 3,125,669 shares of the company’s stock worth $47,635,000 after buying an additional 1,004,497 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Vestis by 46.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,095,278 shares of the company’s stock valued at $47,172,000 after buying an additional 980,303 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Vestis by 179.4% during the fourth quarter. Millennium Management LLC now owns 3,003,762 shares of the company’s stock valued at $45,777,000 after buying an additional 1,928,687 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its position in Vestis by 2.3% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 2,691,476 shares of the company’s stock worth $41,018,000 after acquiring an additional 59,824 shares during the last quarter. 97.40% of the stock is currently owned by hedge funds and other 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.