Vestis (NYSE:VSTS) Director Acquires $103,500.00 in Stock

Vestis Corporation (NYSE:VSTS) Director Douglas Pertz bought 15,000 shares of the stock in a transaction that occurred on Friday, December 19th. The stock was acquired at an average price of $6.90 per share, for a total transaction of $103,500.00. Following the acquisition, the director directly owned 322,010 shares in the company, valued at $2,221,869. The trade was a 4.89% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Vestis Stock Up 4.1%

VSTS stock traded up $0.29 during mid-day trading on Monday, reaching $7.16. 3,898,956 shares of the company traded hands, compared to its average volume of 2,404,165. The company has a quick ratio of 1.64, a current ratio of 2.08 and a debt-to-equity ratio of 1.49. The firm’s 50 day moving average price is $5.85 and its 200 day moving average price is $5.49. The stock has a market cap of $943.53 million, a price-to-earnings ratio of -23.08 and a beta of 0.78. Vestis Corporation has a fifty-two week low of $3.98 and a fifty-two week high of $16.68.

Vestis (NYSE:VSTS) last announced its quarterly earnings results on Monday, December 1st. The company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. Vestis had a positive return on equity of 2.62% and a negative net margin of 1.47%.The business had revenue of $712.01 million during the quarter, compared to the consensus estimate of $690.65 million. During the same quarter 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. As a group, equities research analysts predict that Vestis Corporation will post 0.7 EPS for the current fiscal year.

Institutional Trading of Vestis

A number of hedge funds and other institutional investors have recently bought and sold shares of VSTS. Invesco Ltd. boosted its holdings in Vestis by 15.6% in the 1st quarter. Invesco Ltd. now owns 701,596 shares of the company’s stock valued at $6,946,000 after purchasing an additional 94,695 shares during the period. Nuveen LLC purchased a new stake in shares of Vestis in the first quarter worth $2,746,000. American Century Companies Inc. boosted its stake in Vestis by 9.8% during the first quarter. American Century Companies Inc. now owns 250,836 shares of the company’s stock valued at $2,483,000 after buying an additional 22,400 shares during the period. Hsbc Holdings PLC purchased a new position in Vestis during the first quarter worth about $137,000. Finally, Capital Fund Management S.A. bought a new position in Vestis in the 1st quarter worth about $929,000. Institutional investors own 97.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Robert W. Baird increased their price objective on shares of Vestis from $5.00 to $6.50 and gave the company a “neutral” rating in a research note on Tuesday, December 2nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Vestis in a research report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price target on Vestis from $5.50 to $6.00 and gave the stock an “underweight” rating in a report on Wednesday, December 3rd. Finally, The Goldman Sachs Group upped their price objective on Vestis from $5.50 to $6.30 and gave the company a “neutral” rating in a research note on Tuesday, December 2nd. Two equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Strong Sell” and a consensus target price of $5.95.

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. The company serves manufacturing, hospitality, retail, food processing, food service, pharmaceuticals, healthcare, automotive, and cleanroom industries.