Vestis Co. (NYSE:VSTS) Director Purchases $431,900.00 in Stock

Vestis Co. (NYSE:VSTS) Director Douglas A. Pertz acquired 70,000 shares of the stock in a transaction dated Thursday, May 8th. The shares were bought at an average cost of $6.17 per share, with a total value of $431,900.00. Following the transaction, the director now directly owns 297,010 shares of the company’s stock, valued at $1,832,551.70. This represents a 30.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Vestis Stock Performance

Shares of NYSE VSTS opened at $6.29 on Friday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.43 and a current ratio of 1.80. The stock has a 50 day moving average price of $9.08 and a 200 day moving average price of $12.87. The stock has a market capitalization of $828.68 million, a PE ratio of 78.63 and a beta of 1.61. Vestis Co. has a 52 week low of $5.20 and a 52 week high of $17.83.

Vestis (NYSE:VSTS) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.15 by ($0.20). The company had revenue of $665.25 million during the quarter, compared to analyst estimates of $690.81 million. Vestis had a net margin of 0.34% and a return on equity of 7.91%. Vestis’s revenue was down 5.7% on a year-over-year basis. Analysts predict that Vestis Co. will post 0.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of VSTS. Charles Schwab Investment Management Inc. grew its holdings in Vestis by 1.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,582,601 shares of the company’s stock worth $25,568,000 after purchasing an additional 43,719 shares during the period. Jefferies Financial Group Inc. bought a new position in shares of Vestis during the 1st quarter worth approximately $1,756,000. Alberta Investment Management Corp increased its holdings in shares of Vestis by 65.2% during the 1st quarter. Alberta Investment Management Corp now owns 6,145,000 shares of the company’s stock worth $60,836,000 after acquiring an additional 2,426,167 shares during the last quarter. GSA Capital Partners LLP raised its stake in Vestis by 369.6% in the 1st quarter. GSA Capital Partners LLP now owns 58,850 shares of the company’s stock valued at $583,000 after acquiring an additional 46,317 shares during the period. Finally, Federated Hermes Inc. lifted its holdings in Vestis by 2.0% during the 1st quarter. Federated Hermes Inc. now owns 121,589 shares of the company’s stock valued at $1,204,000 after purchasing an additional 2,352 shares during the last quarter. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

VSTS has been the topic of several recent research reports. The Goldman Sachs Group dropped their price target on Vestis from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Monday, March 17th. Barclays decreased their price objective on Vestis from $10.00 to $5.00 and set an “underweight” rating for the company in a report on Friday. Finally, Robert W. Baird cut their target price on Vestis from $17.00 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday, March 20th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $11.75.

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.