Vestis Co. (NYSE:VSTS) Shares Purchased by Annex Advisory Services LLC

Annex Advisory Services LLC increased its position in shares of Vestis Co. (NYSE:VSTS) by 26.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 372,416 shares of the company’s stock after acquiring an additional 78,517 shares during the quarter. Annex Advisory Services LLC’s holdings in Vestis were worth $3,687,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of VSTS. Spire Wealth Management acquired a new position in Vestis in the fourth quarter valued at about $29,000. True Wealth Design LLC acquired a new position in Vestis in the fourth quarter valued at about $29,000. Smartleaf Asset Management LLC lifted its position in shares of Vestis by 548.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,510 shares of the company’s stock worth $38,000 after purchasing an additional 2,123 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Vestis during the fourth quarter worth about $93,000. Finally, Sterling Capital Management LLC lifted its position in shares of 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 in the last quarter. Institutional investors and hedge funds own 97.40% of the company’s stock.

Vestis Stock Down 1.4%

Shares of NYSE:VSTS opened at $6.30 on Thursday. The firm’s 50 day moving average price is $7.45 and its 200 day moving average price is $11.90. The stock has a market cap of $830.23 million, a price-to-earnings ratio of 78.76 and a beta of 1.61. Vestis Co. has a fifty-two week low of $5.20 and a fifty-two week high of $17.83. The company has a quick ratio of 1.43, a current ratio of 1.80 and a debt-to-equity ratio of 1.39.

Vestis (NYSE:VSTS) last issued its earnings results 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 firm had revenue of $665.25 million during the quarter, compared to analyst estimates of $690.81 million. Vestis had a net margin of 0.34% and a return on equity of 7.91%. The firm’s revenue for the quarter was down 5.7% compared to the same quarter last year. As a group, equities research analysts predict that Vestis Co. will post 0.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on VSTS. The Goldman Sachs Group reduced their price target on shares of Vestis from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. Barclays reduced their price target on shares of Vestis from $10.00 to $5.00 and set an “underweight” rating on the stock in a research report on Friday, May 9th. Finally, Robert W. Baird reduced their price target on shares of Vestis from $17.00 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday, March 20th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, Vestis has an average rating of “Hold” and an average target price of $11.75.

Insider Activity at Vestis

In related news, Director Douglas A. Pertz purchased 70,000 shares of the company’s stock in a transaction on Thursday, May 8th. The shares were bought at an average cost of $6.17 per share, for a total transaction of $431,900.00. Following the completion of the purchase, the director now directly owns 297,010 shares of the company’s stock, valued at approximately $1,832,551.70. This trade represents a 30.84% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO William J. Seward purchased 10,000 shares of the company’s stock in a transaction on Thursday, May 8th. The stock was bought at an average price of $6.23 per share, for a total transaction of $62,300.00. Following the completion of the purchase, the chief operating officer now directly owns 130,862 shares of the company’s stock, valued at $815,270.26. The trade was a 8.27% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 880,675 shares of company stock valued at $5,271,632 over the last 90 days. 13.60% of the stock is owned by corporate insiders.

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.