Vestis (NYSE:VSTS) Director Purchases $5,449,511.82 in Stock

Vestis Corporation (NYSE:VSTS) Director Keith Meister bought 800,222 shares of Vestis stock in a transaction on Tuesday, December 16th. The shares were purchased at an average cost of $6.81 per share, with a total value of $5,449,511.82. Following the completion of the purchase, the director directly owned 19,604,121 shares in the company, valued at $133,504,064.01. This trade represents a 4.26% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Vestis Stock Performance

Shares of NYSE:VSTS traded up $0.04 during trading hours on Wednesday, hitting $6.94. The stock had a trading volume of 3,447,881 shares, compared to its average volume of 2,384,297. The stock’s fifty day simple moving average is $5.77 and its 200 day simple moving average is $5.49. The firm has a market capitalization of $914.52 million, a price-to-earnings ratio of -22.37 and a beta of 0.78. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.64 and a current ratio of 2.08. Vestis Corporation has a 1-year low of $3.98 and a 1-year high of $16.68.

Vestis (NYSE:VSTS) last issued its quarterly earnings data on Monday, December 1st. The company reported $0.03 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.03. Vestis had a positive return on equity of 2.62% and a negative net margin of 1.47%.The business had revenue of $712.01 million during the quarter, compared to analyst estimates of $690.65 million. During the same period in the prior year, the company posted $0.11 EPS. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. Sell-side analysts anticipate that Vestis Corporation will post 0.7 earnings per share for the current fiscal year.

Institutional Trading of Vestis

Large investors have recently added to or reduced their stakes in the business. Landscape Capital Management L.L.C. lifted its stake in Vestis by 10.5% during the first quarter. Landscape Capital Management L.L.C. now owns 18,447 shares of the company’s stock valued at $183,000 after buying an additional 1,753 shares in the last quarter. Abacus Planning Group Inc. raised its holdings in shares of Vestis by 8.9% during the third quarter. Abacus Planning Group Inc. now owns 28,058 shares of the company’s stock valued at $127,000 after acquiring an additional 2,294 shares during the period. Captrust Financial Advisors lifted its position in shares of Vestis by 15.6% in the 2nd quarter. Captrust Financial Advisors now owns 20,599 shares of the company’s stock valued at $118,000 after acquiring an additional 2,787 shares in the last quarter. Mariner LLC boosted its stake in Vestis by 3.2% in the 3rd quarter. Mariner LLC now owns 123,981 shares of the company’s stock worth $562,000 after purchasing an additional 3,798 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in Vestis by 471.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,456 shares of the company’s stock worth $31,000 after purchasing an additional 4,502 shares in the last quarter. 97.40% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

VSTS has been the topic of a number of recent analyst reports. Robert W. Baird boosted their price target on shares of Vestis from $5.00 to $6.50 and gave the stock a “neutral” rating in a research report on Tuesday, December 2nd. Weiss Ratings reissued a “sell (d)” rating on shares of Vestis in a report on Wednesday, October 8th. The Goldman Sachs Group increased their price target on Vestis from $5.50 to $6.30 and gave the company a “neutral” rating in a research note on Tuesday, December 2nd. Finally, JPMorgan Chase & Co. boosted their price objective on Vestis from $5.50 to $6.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 3rd. Two research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Strong Sell” and a consensus target price of $5.95.

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.