Keith Meister Purchases 209,842 Shares of Vestis (NYSE:VSTS) Stock

Vestis Corporation (NYSE:VSTS) Director Keith Meister bought 209,842 shares of the business’s stock in a transaction dated Wednesday, December 17th. The stock was purchased at an average price of $6.79 per share, for a total transaction of $1,424,827.18. Following the acquisition, the director directly owned 19,813,963 shares of the company’s stock, valued at approximately $134,536,808.77. The trade was a 1.07% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Vestis Trading Down 0.7%

NYSE:VSTS opened at $6.91 on Friday. The firm has a market capitalization of $911.22 million, a P/E ratio of -22.29 and a beta of 0.78. The company has a quick ratio of 1.64, a current ratio of 2.08 and a debt-to-equity ratio of 1.49. The company has a fifty day moving average of $5.81 and a 200 day moving average of $5.50. Vestis Corporation has a 52 week low of $3.98 and a 52 week high of $16.68.

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, hitting analysts’ consensus estimates of $0.03. The business had revenue of $712.01 million for the quarter, compared to analyst estimates of $690.65 million. Vestis had a negative net margin of 1.47% and a positive return on equity of 2.62%. The company’s revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.11 EPS. On average, research analysts predict that Vestis Corporation will post 0.7 earnings per share for the current year.

Institutional Trading of Vestis

A number of hedge funds have recently modified their holdings of VSTS. Charles Schwab Investment Management Inc. grew its position 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 worth $25,568,000 after buying an additional 43,719 shares during the period. Invesco Ltd. grew its holdings in 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 purchasing an additional 94,695 shares during the period. Nuveen LLC bought a new position in shares of Vestis during the first quarter valued at approximately $2,746,000. Public Sector Pension Investment Board increased its stake in shares of Vestis by 27.5% during the first quarter. Public Sector Pension Investment Board now owns 363,484 shares of the company’s stock valued at $3,598,000 after purchasing an additional 78,446 shares in the last quarter. Finally, HighTower Advisors LLC lifted its holdings in shares of Vestis by 6.8% during the first 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 during the last quarter. Institutional investors own 97.40% of the company’s stock.

Analyst Ratings Changes

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

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.