Douglas A. Pertz Acquires 54,468 Shares of Vestis Co. (NYSE:VSTS) Stock

Vestis Co. (NYSE:VSTSGet Free Report) Director Douglas A. Pertz acquired 54,468 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were bought at an average cost of $11.99 per share, for a total transaction of $653,071.32. Following the acquisition, the director now directly owns 195,604 shares in the company, valued at approximately $2,345,291.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Vestis Price Performance

Shares of Vestis stock opened at $12.12 on Friday. The company has a current ratio of 2.51, a quick ratio of 2.16 and a debt-to-equity ratio of 1.69. The business’s 50-day moving average price is $15.84 and its 200-day moving average price is $18.18. Vestis Co. has a 12 month low of $8.92 and a 12 month high of $22.37.

Vestis (NYSE:VSTSGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.09). The company had revenue of $705.37 million during the quarter, compared to analyst estimates of $722.54 million. The business’s revenue for the quarter was up .9% compared to the same quarter last year. Analysts expect that Vestis Co. will post 0.58 EPS for the current year.

Vestis Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Friday, June 14th will be given a dividend of $0.035 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.14 annualized dividend and a yield of 1.16%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Robert W. Baird dropped their price objective on Vestis from $24.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. JPMorgan Chase & Co. cut Vestis from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $22.00 to $11.00 in a report on Friday, May 3rd. Barclays lowered their price target on Vestis from $19.00 to $10.00 and set an “underweight” rating on the stock in a report on Friday, May 3rd. The Goldman Sachs Group lowered their price target on Vestis from $20.00 to $11.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. Finally, Redburn Atlantic cut Vestis from a “buy” rating to a “neutral” rating and set a $13.40 price target on the stock. in a report on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Vestis currently has an average rating of “Hold” and a consensus price target of $16.38.

Check Out Our Latest Stock Report on VSTS

Hedge Funds Weigh In On Vestis

Institutional investors and hedge funds have recently bought and sold shares of the stock. Parkside Financial Bank & Trust bought a new position in Vestis during the 4th quarter worth approximately $25,000. Sound Income Strategies LLC bought a new stake in shares of Vestis in the 4th quarter worth approximately $25,000. CI Investments Inc. bought a new stake in shares of Vestis in the 3rd quarter worth approximately $28,000. Daiwa Securities Group Inc. bought a new stake in shares of Vestis in the 4th quarter worth approximately $34,000. Finally, Wahed Invest LLC bought a new stake in shares of Vestis in the 4th quarter worth approximately $42,000. 97.40% of the stock is currently owned by institutional investors.

Vestis Company Profile

(Get Free Report)

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.

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