Vestis (NYSE:VSTS) Director William Goetz Buys 6,746 Shares

Vestis Corporation (NYSE:VSTS) Director William Goetz bought 6,746 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The stock was acquired at an average cost of $7.42 per share, for a total transaction of $50,055.32. Following the completion of the purchase, the director directly owned 29,877 shares of the company’s stock, valued at $221,687.34. The trade was a 29.16% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Vestis Trading Down 3.5%

Shares of VSTS stock traded down $0.26 during trading hours on Tuesday, reaching $7.14. The company’s stock had a trading volume of 2,510,687 shares, compared to its average volume of 2,365,160. 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 Corporation has a one year low of $3.98 and a one year high of $17.83. The stock has a market capitalization of $941.79 million, a P/E ratio of -23.04 and a beta of 0.78. The firm’s fifty day simple moving average is $5.51 and its 200 day simple moving average is $5.44.

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

Wall Street Analyst Weigh In

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

Institutional Trading of Vestis

Large investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC raised its holdings in shares of Vestis by 471.9% during the second quarter. EverSource Wealth Advisors LLC now owns 5,456 shares of the company’s stock valued at $31,000 after purchasing an additional 4,502 shares during the last quarter. Osaic Holdings Inc. grew its position in Vestis by 703.2% in the 2nd quarter. Osaic Holdings Inc. now owns 5,743 shares of the company’s stock worth $33,000 after purchasing an additional 5,028 shares during the period. Simplicity Wealth LLC bought a new stake in Vestis in the 3rd quarter worth approximately $46,000. Sanders Morris Harris LLC purchased a new stake in Vestis during the 3rd quarter valued at $47,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Vestis by 331.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 9,427 shares of the company’s stock valued at $54,000 after buying an additional 7,242 shares during the period. 97.40% of the stock is currently owned by institutional investors.

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.