Vestis (NYSE:VSTS) Releases Earnings Results, Beats Estimates By $0.04 EPS

Vestis (NYSE:VSTS) issued its earnings results on Tuesday. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.04, FiscalAI reports. The business had revenue of $663.39 million for the quarter, compared to analyst estimates of $665.77 million. Vestis had a negative net margin of 1.47% and a positive return on equity of 2.62%.

Vestis Trading Up 2.2%

Shares of Vestis stock opened at $7.34 on Tuesday. The company has a market capitalization of $968.51 million, a P/E ratio of -23.68 and a beta of 0.73. The stock has a fifty day simple moving average of $6.80 and a 200 day simple moving average of $5.66. Vestis has a 12-month low of $3.98 and a 12-month high of $13.90. The company has a current ratio of 2.08, a quick ratio of 1.64 and a debt-to-equity ratio of 1.49.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. The Goldman Sachs Group cut shares of Vestis from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $6.30 to $5.30 in a research report on Thursday, January 8th. JPMorgan Chase & Co. increased 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. Weiss Ratings restated a “sell (d)” rating on shares of Vestis in a report on Wednesday, January 21st. Finally, Robert W. Baird increased their target price on Vestis from $5.00 to $6.50 and gave the stock a “neutral” rating in a report on Tuesday, December 2nd. One investment analyst has rated the stock with a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, Vestis has an average rating of “Strong Sell” and a consensus price target of $5.70.

Insider Activity

In other news, Director Douglas A. Pertz purchased 15,000 shares of the company’s stock in a transaction that occurred on Friday, December 19th. The shares were bought at an average cost of $6.90 per share, with a total value of $103,500.00. Following the completion of the transaction, the director directly owned 322,010 shares of the company’s stock, valued at approximately $2,221,869. This trade represents a 4.89% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO James J. Barber acquired 82,367 shares of Vestis stock in a transaction on Thursday, December 4th. The stock was purchased at an average cost of $6.36 per share, with a total value of $523,854.12. Following the completion of the transaction, the chief executive officer directly owned 642,469 shares in the company, valued at $4,086,102.84. This represents a 14.71% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 1,205,810 shares of company stock valued at $8,138,302 over the last quarter. 15.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Vestis

Several institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC raised its stake in shares of Vestis by 19.8% in the second quarter. AQR Capital Management LLC now owns 5,593,129 shares of the company’s stock valued at $32,049,000 after buying an additional 923,459 shares during the period. Dimensional Fund Advisors LP raised its stake in Vestis by 0.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,587,432 shares of the company’s stock valued at $20,780,000 after acquiring an additional 25,675 shares during the period. Scopia Capital Management LP lifted its holdings in Vestis by 16.1% during the second quarter. Scopia Capital Management LP now owns 2,896,583 shares of the company’s stock valued at $16,597,000 after purchasing an additional 401,223 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Vestis by 7.8% during the fourth quarter. Geode Capital Management LLC now owns 2,713,396 shares of the company’s stock valued at $18,101,000 after purchasing an additional 195,382 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position in Vestis by 1,265.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,960,150 shares of the company’s stock worth $8,879,000 after purchasing an additional 1,816,633 shares during the period. Hedge funds and other institutional investors 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. The company serves manufacturing, hospitality, retail, food processing, food service, pharmaceuticals, healthcare, automotive, and cleanroom industries.