James Phillip Holloman Purchases 20,200 Shares of Vestis Co. (NYSE:VSTS) Stock

Vestis Co. (NYSE:VSTS) Director James Phillip Holloman bought 20,200 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was acquired at an average cost of $9.93 per share, for a total transaction of $200,586.00. Following the purchase, the director now owns 44,132 shares in the company, valued at approximately $438,230.76. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

Vestis Price Performance

NYSE:VSTS opened at $10.24 on Wednesday. The firm’s fifty day simple moving average is $18.00 and its 200 day simple moving average is $18.66. The company has a current ratio of 2.51, a quick ratio of 2.16 and a debt-to-equity ratio of 1.69. Vestis Co. has a 1 year low of $8.92 and a 1 year high of $22.37.

Vestis (NYSE:VSTS) last posted its earnings results on Thursday, May 2nd. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.09). The company had revenue of $705.37 million for the quarter, compared to analyst estimates of $722.54 million. The company’s revenue was up .9% on a year-over-year basis. As a group, sell-side analysts expect that Vestis Co. will post 1.03 earnings per share for the current fiscal year.

Vestis Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were issued a $0.035 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 1.37%.

Hedge Funds Weigh In On Vestis

Several hedge funds have recently modified their holdings of VSTS. Sound Income Strategies LLC acquired a new position in Vestis during the fourth quarter worth approximately $25,000. Parkside Financial Bank & Trust bought a new stake in Vestis in the 4th quarter valued at $25,000. CI Investments Inc. bought a new stake in Vestis in the 3rd quarter valued at $28,000. Daiwa Securities Group Inc. acquired a new stake in Vestis during the 4th quarter valued at $34,000. Finally, TFO Wealth Partners LLC bought a new position in Vestis during the fourth quarter worth $42,000. Institutional investors own 97.40% of the company’s stock.

Analyst Upgrades and Downgrades

VSTS has been the subject of several recent research reports. Redburn Atlantic downgraded Vestis from a “buy” rating to a “neutral” rating and set a $13.40 price target for the company. in a report on Tuesday. Stifel Nicolaus reiterated a “hold” rating on shares of Vestis in a report on Friday, May 3rd. Wolfe Research started coverage on Vestis in a report on Thursday, January 11th. They issued an “outperform” rating and a $24.00 price target for the company. Barclays dropped their target price on Vestis from $19.00 to $10.00 and set an “underweight” rating on the stock in a research report on Friday, May 3rd. Finally, JPMorgan Chase & Co. downgraded shares of Vestis from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $22.00 to $11.00 in a research note on Friday, May 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Vestis has an average rating of “Hold” and an average target price of $16.38.

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.