James Barber Acquires 84,500 Shares of Vestis (NYSE:VSTS) Stock

Vestis Corporation (NYSE:VSTS) CEO James Barber acquired 84,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were bought at an average price of $12.37 per share, with a total value of $1,045,265.00. Following the transaction, the chief executive officer owned 867,222 shares in the company, valued at $10,727,536.14. This represents a 10.80% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Vestis Trading Up 6.0%

Shares of VSTS stock opened at $13.29 on Friday. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of -265.75 and a beta of 0.95. The company has a current ratio of 2.17, a quick ratio of 1.75 and a debt-to-equity ratio of 1.38. The firm has a 50-day moving average price of $14.12 and a 200 day moving average price of $11.39. Vestis Corporation has a twelve month low of $3.98 and a twelve month high of $16.90.

Vestis (NYSE:VSTS) last released its quarterly earnings results on Tuesday, August 11th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.08. The company had revenue of $661.66 million for the quarter, compared to analysts’ expectations of $668.94 million. Vestis had a negative net margin of 0.20% and a positive return on equity of 7.27%. Research analysts forecast that Vestis Corporation will post 0.62 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Vestis

A number of large investors have recently bought and sold shares of VSTS. Royal Bank of Canada grew its stake in shares of Vestis by 1,520.5% during the 4th quarter. Royal Bank of Canada now owns 5,688,399 shares of the company’s stock valued at $37,942,000 after buying an additional 5,337,380 shares during the period. Greenstone Partners & Co. LLC purchased a new position in shares of Vestis in the 4th quarter worth $33,979,000. Jacobs Levy Equity Management Inc. raised its position in shares of Vestis by 1,265.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,960,150 shares of the company’s stock worth $8,879,000 after buying an additional 1,816,633 shares during the period. SG Americas Securities LLC boosted its holdings in Vestis by 571.0% in the first quarter. SG Americas Securities LLC now owns 1,979,460 shares of the company’s stock valued at $15,559,000 after acquiring an additional 1,684,460 shares during the last quarter. Finally, California State Teachers Retirement System boosted its holdings in Vestis by 1,668.1% in the second quarter. California State Teachers Retirement System now owns 1,630,741 shares of the company’s stock valued at $23,678,000 after acquiring an additional 1,538,509 shares during the last quarter. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on VSTS shares. Stifel Nicolaus boosted their price target on Vestis from $11.00 to $14.00 and gave the company a “hold” rating in a report on Wednesday, August 12th. Barclays raised their price objective on Vestis from $9.00 to $11.00 and gave the stock an “underweight” rating in a report on Wednesday, August 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Vestis in a research note on Friday, August 7th. JPMorgan Chase & Co. upped their target price on Vestis from $11.00 to $13.00 and gave the company an “underweight” rating in a research note on Thursday, August 13th. Finally, Robert W. Baird increased their target price on Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 12th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $12.66.

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.