BNP Paribas Financial Markets Acquires Shares of 89,037 Vestis Co. (NYSE:VSTS)

BNP Paribas Financial Markets bought a new position in shares of Vestis Co. (NYSE:VSTS) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 89,037 shares of the company’s stock, valued at approximately $1,357,000. BNP Paribas Financial Markets owned approximately 0.07% of Vestis as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Spire Wealth Management acquired a new position in shares of Vestis during the 4th quarter worth $29,000. Smartleaf Asset Management LLC grew its holdings in shares of Vestis by 548.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,510 shares of the company’s stock valued at $38,000 after purchasing an additional 2,123 shares during the last quarter. Quantbot Technologies LP acquired a new position in Vestis during the 4th quarter worth approximately $93,000. Sterling Capital Management LLC lifted its stake in Vestis by 45.9% in the 4th quarter. Sterling Capital Management LLC now owns 7,882 shares of the company’s stock valued at $120,000 after purchasing an additional 2,479 shares during the last quarter. Finally, CIBC Asset Management Inc bought a new position in Vestis in the 4th quarter valued at approximately $180,000. Institutional investors own 97.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Robert W. Baird lowered their price target on shares of Vestis from $17.00 to $13.00 and set a “neutral” rating for the company in a report on Thursday, March 20th. The Goldman Sachs Group dropped their target price on Vestis from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. Finally, Barclays cut their price target on Vestis from $10.00 to $5.00 and set an “underweight” rating on the stock in a research note on Friday, May 9th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat, Vestis presently has an average rating of “Hold” and an average price target of $11.75.

Vestis Price Performance

Shares of VSTS opened at $6.02 on Tuesday. The business has a 50-day moving average of $8.49 and a 200-day moving average of $12.54. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.80 and a quick ratio of 1.43. The company has a market capitalization of $793.33 million, a price-to-earnings ratio of 75.26 and a beta of 1.61. Vestis Co. has a 1 year low of $5.20 and a 1 year high of $17.83.

Vestis (NYSE:VSTS) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.20). Vestis had a return on equity of 7.91% and a net margin of 0.34%. The firm had revenue of $665.25 million for the quarter, compared to the consensus estimate of $690.81 million. The business’s revenue for the quarter was down 5.7% on a year-over-year basis. As a group, equities research analysts anticipate that Vestis Co. will post 0.7 earnings per share for the current year.

Insider Buying and Selling at Vestis

In related news, Director Douglas A. Pertz acquired 70,000 shares of the business’s stock in a transaction dated Thursday, May 8th. The shares were bought at an average price of $6.17 per share, with a total value of $431,900.00. Following the transaction, the director now directly owns 297,010 shares of the company’s stock, valued at $1,832,551.70. This trade represents a 30.84% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO William J. Seward purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 8th. The shares were purchased at an average cost of $6.23 per share, for a total transaction of $62,300.00. Following the completion of the purchase, the chief operating officer now owns 130,862 shares in the company, valued at $815,270.26. This trade represents a 8.27% increase in their position. The disclosure for this purchase can be found here. Insiders own 13.60% of the company’s stock.

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.