Voya Investment Management LLC Purchases 91,979 Shares of Vestis Corporation $VSTS

Voya Investment Management LLC increased its position in shares of Vestis Corporation (NYSE:VSTS) by 299.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 122,734 shares of the company’s stock after purchasing an additional 91,979 shares during the period. Voya Investment Management LLC’s holdings in Vestis were worth $556,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its stake in Vestis by 471.9% during the second quarter. EverSource Wealth Advisors LLC now owns 5,456 shares of the company’s stock worth $31,000 after purchasing an additional 4,502 shares during the last quarter. Osaic Holdings Inc. raised its holdings in shares of Vestis by 703.2% during the 2nd 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. Sanders Morris Harris LLC bought a new stake in shares of Vestis during the 3rd quarter worth $47,000. PNC Financial Services Group Inc. lifted its position in shares of 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 buying an additional 7,242 shares during the last quarter. Finally, AREX Capital Management LP acquired a new stake in Vestis in the second quarter valued at about $57,000. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Vestis Stock Down 0.9%

NYSE:VSTS opened at $6.71 on Friday. Vestis Corporation has a one year low of $3.98 and a one year high of $16.68. The company has a debt-to-equity ratio of 1.49, a current ratio of 2.08 and a quick ratio of 1.64. The company has a market cap of $884.83 million, a PE ratio of -21.64 and a beta of 0.78. The firm’s 50 day simple moving average is $6.19 and its 200 day simple moving average is $5.54.

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

Insider Buying and Selling

In related news, CEO James J. Barber bought 82,367 shares of the stock in a transaction that occurred on Thursday, December 4th. The stock was acquired at an average cost of $6.36 per share, with a total value of $523,854.12. Following the transaction, the chief executive officer directly owned 642,469 shares in the company, valued at approximately $4,086,102.84. This trade represents a 14.71% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Douglas A. Pertz bought 15,000 shares of the business’s stock in a transaction on Friday, December 19th. The shares were bought at an average cost of $6.90 per share, for a total transaction of $103,500.00. Following the completion of the acquisition, the director directly owned 322,010 shares in the company, valued at approximately $2,221,869. This trade represents a 4.89% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have acquired 1,205,810 shares of company stock valued at $8,138,302. Company insiders own 13.60% 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. The company serves manufacturing, hospitality, retail, food processing, food service, pharmaceuticals, healthcare, automotive, and cleanroom industries.