Price T Rowe Associates Inc. MD Sells 2,207 Shares of Vestis Co. (NYSE:VSTS)

Price T Rowe Associates Inc. MD trimmed its holdings in shares of Vestis Co. (NYSE:VSTS) by 2.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 87,733 shares of the company’s stock after selling 2,207 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Vestis were worth $1,338,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Spire Wealth Management acquired a new position in shares of Vestis during the 4th quarter worth approximately $29,000. Smartleaf Asset Management LLC lifted its stake in Vestis by 548.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,510 shares of the company’s stock valued at $38,000 after acquiring an additional 2,123 shares during the last quarter. GAMMA Investing LLC grew its position in shares of 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 during the period. Quantbot Technologies LP bought a new stake in shares of Vestis in the 4th quarter valued at about $93,000. Finally, Sterling Capital Management LLC grew its holdings in Vestis by 45.9% during the fourth quarter. Sterling Capital Management LLC now owns 7,882 shares of the company’s stock worth $120,000 after purchasing an additional 2,479 shares during the period. Institutional investors and hedge funds own 97.40% of the company’s stock.

Insider Transactions at Vestis

In other news, Director Douglas A. Pertz purchased 70,000 shares of the business’s stock in a transaction on Thursday, May 8th. The shares were acquired at an average price of $6.17 per share, for a total transaction of $431,900.00. Following the completion of the acquisition, the director now owns 297,010 shares in the company, valued at approximately $1,832,551.70. The trade was a 30.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 13.60% of the company’s stock.

Vestis Trading Up 0.3 %

NYSE VSTS opened at $6.29 on Friday. Vestis Co. has a 12 month low of $5.20 and a 12 month high of $17.83. The company has a current ratio of 1.80, a quick ratio of 1.43 and a debt-to-equity ratio of 1.39. The firm has a market capitalization of $828.68 million, a PE ratio of 78.63 and a beta of 1.61. The business’s 50-day moving average price is $9.08 and its two-hundred day moving average price is $12.88.

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

Wall Street Analysts Forecast Growth

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

Vestis 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.