Vestis (NYSE:VSTS) Hits New 52-Week Low - Time to Sell?

Vestis Co. (NYSE:VSTS - Get Free Report)'s share price reached a new 52-week low on Thursday . The stock 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.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. The Goldman Sachs Group reduced their price objective on Vestis from $15.00 to $13.00 and set a "neutral" rating for the company in a research note on Monday, March 17th. Barclays cut their target price on Vestis from $13.00 to $10.00 and set an "underweight" rating on the stock in a report on Friday, April 4th. Finally, Robert W. Baird lowered their price objective on Vestis from $17.00 to $13.00 and set a "neutral" rating on the stock in a report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $13.08.

Vestis Stock Up 3.0 %

The business has a 50 day moving average price of $10.52 and a 200 day moving average price of $13.57. The firm has a market capitalization of $1.01 billion, a P/E ratio of 95.82 and a beta of 1.55. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.80 and a quick ratio of 1.43.

Vestis (NYSE:VSTS - Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.12 by $0.02. Vestis had a return on equity of 7.91% and a net margin of 0.34%. During the same period in the prior year, the company posted $0.22 EPS. On average, analysts predict that Vestis Co. will post 0.7 earnings per share 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 $0.035 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.14 annualized dividend and a yield of 1.83%. Vestis's dividend payout ratio is 175.00%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Barclays PLC increased its stake in Vestis by 445.4% during the third quarter. Barclays PLC now owns 51,981 shares of the company's stock valued at $774,000 after acquiring an additional 42,450 shares during the period. Sanctuary Advisors LLC acquired a new position in Vestis during the 3rd quarter worth $303,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Vestis during the 3rd quarter worth approximately $238,000. Franklin Resources Inc. boosted its stake in Vestis by 34.1% in the third quarter. Franklin Resources Inc. now owns 561,384 shares of the company's stock valued at $8,404,000 after acquiring an additional 142,854 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Vestis by 17.9% during the fourth quarter. GAMMA Investing LLC now owns 4,670 shares of the company's stock worth $71,000 after purchasing an additional 710 shares during the period. Institutional investors and hedge funds own 97.40% of the company's stock.

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.