Douglas A. Pertz Acquires 70,000 Shares of Vestis Co. (NYSE:VSTS) Stock

Vestis Co. (NYSE:VSTS) Director Douglas A. Pertz bought 70,000 shares of the firm’s stock in a transaction dated 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 acquisition, the director now directly owns 297,010 shares of the company’s stock, valued at approximately $1,832,551.70. The trade was a 30.84 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Vestis Trading Up 0.3 %

VSTS opened at $6.29 on Friday. The firm has a 50 day simple moving average of $9.08 and a 200 day simple moving average of $12.87. Vestis Co. has a fifty-two week low of $5.20 and a fifty-two week high of $17.83. The company has a market cap of $828.68 million, a price-to-earnings ratio of 78.63 and a beta of 1.61. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.80 and a quick ratio of 1.43.

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

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Vestis

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Spire Wealth Management bought a new position in Vestis during the 4th quarter worth approximately $29,000. True Wealth Design LLC bought a new position in shares of Vestis during the fourth quarter worth $29,000. Smartleaf Asset Management LLC grew its holdings in shares of Vestis by 548.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,510 shares of the company’s stock valued at $38,000 after buying an additional 2,123 shares during the period. Copeland Capital Management LLC increased its position in shares of Vestis by 33.0% in the 1st quarter. Copeland Capital Management LLC now owns 5,428 shares of the company’s stock valued at $54,000 after buying an additional 1,346 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Vestis by 17.9% during the 4th quarter. GAMMA Investing LLC now owns 4,670 shares of the company’s stock worth $71,000 after buying an additional 710 shares during the period. Institutional investors 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.