Vestis (NYSE:VSTS) Director Douglas Pertz Acquires 15,000 Shares

Vestis Corporation (NYSE:VSTS) Director Douglas Pertz bought 15,000 shares of Vestis stock in a transaction that occurred on Friday, December 19th. The shares were bought at an average cost of $6.90 per share, with a total value of $103,500.00. Following the acquisition, the director directly owned 322,010 shares in the company, valued at $2,221,869. This trade represents a 4.89% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Vestis Price Performance

Vestis stock opened at $7.16 on Tuesday. The stock’s 50 day moving average is $5.90 and its 200-day moving average is $5.50. The company has a market capitalization of $943.53 million, a price-to-earnings ratio of -23.08 and a beta of 0.76. Vestis Corporation has a 12 month low of $3.98 and a 12 month high of $16.68. 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 (NYSE:VSTS) last posted its quarterly earnings data on Monday, December 1st. The company reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03. Vestis had a positive return on equity of 2.62% and a negative net margin of 1.47%.The firm had revenue of $712.01 million for the quarter, compared to analysts’ expectations of $690.65 million. During the same quarter last year, the business earned $0.11 EPS. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. Equities research analysts expect that Vestis Corporation will post 0.7 EPS for the current year.

Institutional Investors Weigh In On Vestis

Several large investors have recently modified their holdings of VSTS. Landscape Capital Management L.L.C. grew its holdings in Vestis by 10.5% in the first quarter. Landscape Capital Management L.L.C. now owns 18,447 shares of the company’s stock worth $183,000 after purchasing an additional 1,753 shares during the period. Abacus Planning Group Inc. boosted its position in shares of Vestis by 8.9% during the 3rd quarter. Abacus Planning Group Inc. now owns 28,058 shares of the company’s stock worth $127,000 after purchasing an additional 2,294 shares in the last quarter. Captrust Financial Advisors boosted its position in shares of Vestis by 15.6% during the 2nd quarter. Captrust Financial Advisors now owns 20,599 shares of the company’s stock worth $118,000 after purchasing an additional 2,787 shares in the last quarter. Mariner LLC grew its stake in shares of Vestis by 3.2% in the 3rd quarter. Mariner LLC now owns 123,981 shares of the company’s stock valued at $562,000 after buying an additional 3,798 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in Vestis by 471.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,456 shares of the company’s stock valued at $31,000 after buying an additional 4,502 shares in the last quarter. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on VSTS shares. The Goldman Sachs Group lifted their target price on Vestis from $5.50 to $6.30 and gave the company a “neutral” rating in a research report on Tuesday, December 2nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Vestis in a report on Wednesday, October 8th. JPMorgan Chase & Co. upped their price objective on shares of Vestis from $5.50 to $6.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 3rd. Finally, Robert W. Baird increased their price objective on shares of Vestis from $5.00 to $6.50 and gave the company a “neutral” rating in a research note on Tuesday, December 2nd. Two investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Strong Sell” and a consensus price target 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. The company serves manufacturing, hospitality, retail, food processing, food service, pharmaceuticals, healthcare, automotive, and cleanroom industries.