Vestis (NYSE:VSTS) CEO James Barber Buys 84,500 Shares

Vestis Corporation (NYSE:VSTS) CEO James Barber acquired 84,500 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The shares were acquired at an average price of $12.37 per share, for a total transaction of $1,045,265.00. Following the acquisition, the chief executive officer directly owned 867,222 shares in the company, valued at $10,727,536.14. This represents a 10.80% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.

Vestis Price Performance

NYSE VSTS opened at $12.53 on Friday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.75 and a current ratio of 2.17. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of -250.55 and a beta of 0.95. The business has a 50 day simple moving average of $14.14 and a 200 day simple moving average of $11.37. Vestis Corporation has a 52-week low of $3.98 and a 52-week high of $16.90.

Vestis (NYSE:VSTS) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.08. Vestis had a negative net margin of 0.20% and a positive return on equity of 7.27%. The firm had revenue of $661.66 million for the quarter, compared to analyst estimates of $668.94 million. Analysts anticipate that Vestis Corporation will post 0.62 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

VSTS has been the topic of a number of research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Vestis in a report on Friday, August 7th. Robert W. Baird lifted their target price on Vestis from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Wednesday, August 12th. The Goldman Sachs Group boosted their target price on Vestis from $8.20 to $9.30 and gave the company a “sell” rating in a research note on Tuesday, August 11th. Barclays raised their price target on shares of Vestis from $9.00 to $11.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 12th. Finally, Zacks Research lowered shares of Vestis from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 10th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, Vestis currently has a consensus rating of “Reduce” and a consensus price target of $12.66.

Institutional Investors Weigh In On Vestis

Several hedge funds have recently bought and sold shares of VSTS. Royal Bank of Canada increased its position in Vestis by 1,520.5% during the fourth quarter. Royal Bank of Canada now owns 5,688,399 shares of the company’s stock worth $37,942,000 after buying an additional 5,337,380 shares during the last quarter. Greenstone Partners & Co. LLC acquired a new stake in shares of Vestis in the fourth quarter valued at approximately $33,979,000. Jacobs Levy Equity Management Inc. lifted its position in shares of Vestis by 1,265.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,960,150 shares of the company’s stock valued at $8,879,000 after buying an additional 1,816,633 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Vestis by 571.0% during the 1st quarter. SG Americas Securities LLC now owns 1,979,460 shares of the company’s stock worth $15,559,000 after acquiring an additional 1,684,460 shares during the period. Finally, California State Teachers Retirement System increased its holdings in shares of Vestis by 1,668.1% during the 2nd quarter. California State Teachers Retirement System now owns 1,630,741 shares of the company’s stock worth $23,678,000 after acquiring an additional 1,538,509 shares during the last quarter. 97.40% of the stock is currently owned by institutional investors and hedge funds.

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.