Vestis (NYSE:VSTS) CEO James Barber Purchases 81,633 Shares of Stock

Vestis Corporation (NYSE:VSTS) CEO James Barber purchased 81,633 shares of Vestis stock in a transaction that occurred on Wednesday, December 3rd. The stock was purchased at an average price of $6.34 per share, with a total value of $517,553.22. Following the completion of the purchase, the chief executive officer directly owned 560,102 shares in the company, valued at $3,551,046.68. This trade represents a 17.06% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Vestis Stock Up 6.4%

VSTS stock opened at $6.98 on Friday. Vestis Corporation has a fifty-two week low of $3.98 and a fifty-two week high of $17.83. The company has a debt-to-equity ratio of 1.49, a current ratio of 2.08 and a quick ratio of 1.42. The stock has a market capitalization of $920.43 million, a price-to-earnings ratio of -22.52 and a beta of 0.78. The business’s fifty day moving average price is $5.40 and its two-hundred day moving average price is $5.42.

Vestis (NYSE:VSTS) last released its quarterly earnings results on Monday, December 1st. The company reported $0.03 EPS for the quarter, meeting the consensus estimate of $0.03. Vestis had a negative net margin of 1.47% and a positive return on equity of 2.62%. The business had revenue of $712.01 million for the quarter, compared to the consensus estimate of $690.65 million. During the same period in the prior year, the company posted $0.11 earnings per share. Vestis’s revenue was up 4.1% compared to the same quarter last year. On average, equities analysts anticipate that Vestis Corporation will post 0.7 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on VSTS. The Goldman Sachs Group upped their target price on Vestis from $5.50 to $6.30 and gave the company a “neutral” rating in a research report on Tuesday. Weiss Ratings reissued a “sell (d)” rating on shares of Vestis in a report on Wednesday, October 8th. Wall Street Zen raised shares of Vestis from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. JPMorgan Chase & Co. increased their price target on shares of Vestis from $5.50 to $6.00 and gave the stock an “underweight” rating in a research report on Wednesday. Finally, Robert W. Baird boosted their price objective on shares of Vestis from $5.00 to $6.50 and gave the company a “neutral” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Vestis presently has a consensus rating of “Strong Sell” and an average price target of $5.95.

Institutional Investors Weigh In On Vestis

A number of hedge funds have recently made changes to their positions in VSTS. EverSource Wealth Advisors LLC lifted its stake in Vestis by 471.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,456 shares of the company’s stock valued at $31,000 after purchasing an additional 4,502 shares during the last quarter. Osaic Holdings Inc. increased its holdings in shares of Vestis by 703.2% during the second quarter. Osaic Holdings Inc. now owns 5,743 shares of the company’s stock worth $33,000 after buying an additional 5,028 shares in the last quarter. Simplicity Wealth LLC bought a new position in shares of Vestis in the 3rd quarter valued at $46,000. Sanders Morris Harris LLC acquired a new stake in shares of Vestis during the 3rd quarter valued at $47,000. Finally, PNC Financial Services Group Inc. grew its position in Vestis by 331.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 9,427 shares of the company’s stock worth $54,000 after acquiring an additional 7,242 shares during the last quarter. 97.40% of the stock is currently owned by institutional investors and hedge funds.

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.