Vestis (NYSE:VSTS) Reaches New 1-Year Low at $11.85

Shares of Vestis Co. (NYSE:VSTS) reached a new 52-week low during mid-day trading on Thursday . The company 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 brokerages have weighed in on VSTS. The Goldman Sachs Group initiated coverage on shares of Vestis in a research report on Thursday, January 25th. They issued a “neutral” rating and a $22.00 target price on the stock. Barclays lowered Vestis from an “equal weight” rating to an “underweight” rating and boosted their price objective for the stock from $17.00 to $19.00 in a research report on Wednesday, February 28th. Finally, Wolfe Research assumed coverage on Vestis in a research report on Thursday, January 11th. They issued an “outperform” rating and a $24.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Vestis presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.56.

Vestis Stock Down 41.7 %

The stock has a 50-day moving average price of $18.78 and a 200-day moving average price of $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 released its quarterly earnings results on Wednesday, February 7th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.01). The business had revenue of $717.90 million for the quarter, compared to analysts’ expectations of $724.72 million. Vestis’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, research analysts anticipate that Vestis Co. will post 1.03 EPS for the current fiscal year.

Vestis Dividend Announcement

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

Insider Activity

In other news, CEO Kim Scott bought 15,000 shares of the stock in a transaction dated Friday, February 9th. The shares were bought at an average cost of $19.14 per share, with a total value of $287,100.00. Following the completion of the transaction, the chief executive officer now directly owns 183,131 shares of the company’s stock, valued at $3,505,127.34. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Trading of Vestis

A number of hedge funds have recently bought and sold shares of VSTS. Sound Income Strategies LLC bought a new position in Vestis in the 4th quarter valued at $25,000. Parkside Financial Bank & Trust bought a new position in Vestis during the fourth quarter valued at about $25,000. CI Investments Inc. purchased a new stake in Vestis during the third quarter worth about $28,000. Daiwa Securities Group Inc. bought a new stake in Vestis in the fourth quarter worth about $34,000. Finally, TFO Wealth Partners LLC bought a new position in shares of Vestis during the 4th quarter valued at approximately $42,000. 97.40% of the stock is currently 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.