Vestis (NYSE:VSTS) Director Purchases $1,424,827.18 in Stock

Vestis Corporation (NYSE:VSTS) Director Keith Meister bought 209,842 shares of the stock in a transaction that occurred on Wednesday, December 17th. The stock was bought at an average price of $6.79 per share, with a total value of $1,424,827.18. Following the completion of the purchase, the director directly owned 19,813,963 shares in the company, valued at $134,536,808.77. This represents a 1.07% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

Vestis Stock Performance

Shares of Vestis stock opened at $6.89 on Friday. The firm’s 50 day simple moving average is $5.85 and its two-hundred day simple moving average is $5.50. The firm has a market capitalization of $908.58 million, a price-to-earnings ratio of -22.23 and a beta of 0.78. Vestis Corporation has a 12-month low of $3.98 and a 12-month high of $16.68. The company has a current ratio of 2.08, a quick ratio of 1.64 and a debt-to-equity ratio of 1.49.

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

Hedge Funds Weigh In On Vestis

Several institutional investors have recently made changes to their positions in VSTS. Charles Schwab Investment Management Inc. lifted its stake in shares of Vestis by 1.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,582,601 shares of the company’s stock valued at $25,568,000 after purchasing an additional 43,719 shares during the period. Invesco Ltd. raised its position in shares of Vestis by 15.6% in the first quarter. Invesco Ltd. now owns 701,596 shares of the company’s stock worth $6,946,000 after acquiring an additional 94,695 shares during the period. Nuveen LLC purchased a new stake in shares of Vestis during the 1st quarter worth about $2,746,000. Public Sector Pension Investment Board grew its position in shares of Vestis by 27.5% during the 1st quarter. Public Sector Pension Investment Board now owns 363,484 shares of the company’s stock valued at $3,598,000 after acquiring an additional 78,446 shares during the period. Finally, HighTower Advisors LLC increased its stake in shares of Vestis by 6.8% in the 1st quarter. HighTower Advisors LLC now owns 395,919 shares of the company’s stock valued at $3,920,000 after purchasing an additional 25,106 shares in the last quarter. 97.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. The Goldman Sachs Group lifted their target price on Vestis from $5.50 to $6.30 and gave the stock a “neutral” rating in a report on Tuesday, December 2nd. JPMorgan Chase & Co. lifted their price objective on shares of Vestis from $5.50 to $6.00 and gave the company an “underweight” rating in a research note on Wednesday, December 3rd. Weiss Ratings reiterated a “sell (d)” rating on shares of Vestis in a research note on Wednesday, October 8th. Finally, Robert W. Baird boosted their target price on shares of Vestis from $5.00 to $6.50 and gave the company a “neutral” rating in a research report on Tuesday, December 2nd. Two investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Strong Sell” and a consensus target price of $5.95.

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. The company serves manufacturing, hospitality, retail, food processing, food service, pharmaceuticals, healthcare, automotive, and cleanroom industries.