Insider Buying: Vestis (NYSE:VSTS) Director Buys $69,000.00 in Stock

Vestis Corporation (NYSE:VSTS) Director Douglas Pertz bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, December 18th. The shares were acquired at an average price of $6.90 per share, for a total transaction of $69,000.00. Following the transaction, the director owned 307,010 shares in the company, valued at $2,118,369. This represents a 3.37% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

Vestis Trading Up 0.7%

Shares of VSTS stock opened at $6.74 on Thursday. The company has a market cap of $888.80 million, a P/E ratio of -21.74 and a beta of 0.78. Vestis Corporation has a fifty-two week low of $3.98 and a fifty-two week high of $16.68. The stock has a 50 day simple moving average of $5.98 and a two-hundred day simple moving average of $5.51. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.64 and a current ratio of 2.08.

Vestis (NYSE:VSTS) last released its quarterly earnings data on Monday, December 1st. The company reported $0.03 earnings per share for the quarter, meeting the consensus estimate of $0.03. Vestis had a negative net margin of 1.47% and a positive return on equity of 2.62%. The company had revenue of $712.01 million during the quarter, compared to analyst estimates of $690.65 million. During the same quarter in the previous year, the business posted $0.11 EPS. Vestis’s revenue for the quarter was up 4.1% compared to the same quarter last year. Research analysts forecast that Vestis Corporation will post 0.7 earnings per share for the current year.

Analyst Ratings Changes

VSTS has been the subject of a number of research analyst reports. JPMorgan Chase & Co. boosted their target price on Vestis from $5.50 to $6.00 and gave the company an “underweight” rating in a research report on Wednesday, December 3rd. The Goldman Sachs Group boosted their price objective on Vestis from $5.50 to $6.30 and gave the company a “neutral” rating in a report on Tuesday, December 2nd. Robert W. Baird increased their target price on Vestis from $5.00 to $6.50 and gave the stock a “neutral” rating in a report on Tuesday, December 2nd. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Vestis in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Strong Sell” and an average target price of $5.95.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC grew its holdings in shares of Vestis by 471.9% in the second quarter. EverSource Wealth Advisors LLC now owns 5,456 shares of the company’s stock valued at $31,000 after acquiring an additional 4,502 shares in the last quarter. Osaic Holdings Inc. increased its stake in shares of Vestis by 703.2% in the second quarter. Osaic Holdings Inc. now owns 5,743 shares of the company’s stock worth $33,000 after purchasing an additional 5,028 shares in the last quarter. Simplicity Wealth LLC bought a new stake in Vestis during the 3rd quarter valued at $46,000. Sanders Morris Harris LLC purchased a new stake in shares of Vestis during the third quarter worth $47,000. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Vestis by 331.4% in the second quarter. PNC Financial Services Group Inc. now owns 9,427 shares of the company’s stock worth $54,000 after acquiring an additional 7,242 shares during the period. Hedge funds and other institutional investors own 97.40% 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. The company serves manufacturing, hospitality, retail, food processing, food service, pharmaceuticals, healthcare, automotive, and cleanroom industries.