Vestis (NYSE:VSTS) Director Douglas Pertz Purchases 10,000 Shares

Vestis Corporation (NYSE:VSTS) Director Douglas Pertz acquired 10,000 shares of the business’s stock in a transaction dated Thursday, December 18th. The stock was acquired at an average price of $6.90 per share, with a total value of $69,000.00. Following the completion of the transaction, the director directly owned 307,010 shares of the company’s stock, valued at approximately $2,118,369. This represents a 3.37% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Vestis Trading Up 4.1%

Shares of NYSE:VSTS opened at $7.16 on Tuesday. The business’s 50 day moving average price is $5.90 and its 200-day moving average price is $5.50. Vestis Corporation has a 1 year low of $3.98 and a 1 year high of $16.68. The firm has a market capitalization of $943.53 million, a price-to-earnings ratio of -23.08 and a beta of 0.76. The company has a debt-to-equity ratio of 1.49, a current ratio of 2.08 and a quick ratio of 1.64.

Vestis (NYSE:VSTS) last released its earnings results on Monday, December 1st. The company reported $0.03 EPS for the quarter, hitting analysts’ consensus estimates of $0.03. The business had revenue of $712.01 million during 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%. The company’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. On average, equities research analysts forecast that Vestis Corporation will post 0.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Vestis

A number of hedge funds have recently modified their holdings of the business. Invesco Ltd. increased its holdings in Vestis by 15.6% in the 1st quarter. Invesco Ltd. now owns 701,596 shares of the company’s stock valued at $6,946,000 after purchasing an additional 94,695 shares during the last quarter. Nuveen LLC purchased a new position in shares of Vestis during the first quarter worth $2,746,000. American Century Companies Inc. grew its stake in shares of Vestis by 9.8% in the first quarter. American Century Companies Inc. now owns 250,836 shares of the company’s stock valued at $2,483,000 after buying an additional 22,400 shares in the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Vestis in the 1st quarter valued at $137,000. Finally, Capital Fund Management S.A. purchased a new stake in shares of Vestis in the 1st quarter valued at $929,000. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted 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. Robert W. Baird raised their price objective on Vestis from $5.00 to $6.50 and gave the company a “neutral” rating in a report on Tuesday, December 2nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Vestis in a report on Wednesday, October 8th. Finally, The Goldman Sachs Group increased their target price on shares of Vestis from $5.50 to $6.30 and gave the company a “neutral” rating in a research report on Tuesday, December 2nd. Two research analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Strong Sell” and an average target price of $5.95.

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. The company serves manufacturing, hospitality, retail, food processing, food service, pharmaceuticals, healthcare, automotive, and cleanroom industries.