William J. Seward Buys 10,000 Shares of Vestis Co. (NYSE:VSTS) Stock

Vestis Co. (NYSE:VSTS) COO William J. Seward purchased 10,000 shares of the firm’s stock in a transaction dated Thursday, May 8th. The shares were bought at an average price of $6.23 per share, with a total value of $62,300.00. Following the purchase, the chief operating officer now owns 130,862 shares in the company, valued at $815,270.26. This represents a 8.27% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Vestis Price Performance

NYSE VSTS opened at $6.41 on Wednesday. Vestis Co. has a twelve month low of $5.20 and a twelve month high of $17.83. 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 market capitalization of $844.73 million, a PE ratio of 80.14 and a beta of 1.61. The stock has a 50-day simple moving average of $8.89 and a 200 day simple moving average of $12.76.

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Barclays decreased their price target on Vestis from $10.00 to $5.00 and set an “underweight” rating for the company in a research note on Friday, May 9th. Robert W. Baird cut their price objective on Vestis from $17.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday, March 20th. Finally, The Goldman Sachs Group cut their price objective on Vestis from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $11.75.

Hedge Funds Weigh In On Vestis

Several large investors have recently added to or reduced their stakes in VSTS. Barclays PLC raised its holdings in Vestis by 445.4% in the 3rd quarter. Barclays PLC now owns 51,981 shares of the company’s stock valued at $774,000 after acquiring an additional 42,450 shares in the last quarter. Franklin Resources Inc. raised its holdings in Vestis by 34.1% in the 3rd quarter. Franklin Resources Inc. now owns 561,384 shares of the company’s stock valued at $8,404,000 after acquiring an additional 142,854 shares in the last quarter. GAMMA Investing LLC raised its holdings in Vestis by 17.9% in the 4th quarter. GAMMA Investing LLC now owns 4,670 shares of the company’s stock valued at $71,000 after acquiring an additional 710 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Vestis by 3.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 45,687 shares of the company’s stock valued at $681,000 after acquiring an additional 1,735 shares in the last quarter. Finally, Pallas Capital Advisors LLC raised its holdings in Vestis by 13.9% in the 4th quarter. Pallas Capital Advisors LLC now owns 26,868 shares of the company’s stock valued at $409,000 after acquiring an additional 3,287 shares in the last quarter. Institutional investors and hedge funds own 97.40% of the company’s stock.

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.