Vestis Co. (NYSE:VSTS) Director Douglas A. Pertz Buys 70,000 Shares of Stock

Vestis Co. (NYSE:VSTS) Director Douglas A. Pertz purchased 70,000 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The shares were purchased at an average cost of $6.17 per share, with a total value of $431,900.00. Following the completion of the acquisition, the director now directly owns 297,010 shares of the company’s stock, valued at $1,832,551.70. This represents a 30.84 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Vestis Stock Performance

NYSE VSTS opened at $6.29 on Friday. The business has a 50 day moving average price of $9.08 and a 200 day moving average price of $12.88. The company has a market capitalization of $828.68 million, a P/E ratio of 78.63 and a beta of 1.61. Vestis Co. has a 1-year low of $5.20 and a 1-year high of $17.83. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.80 and a quick ratio of 1.43.

Vestis (NYSE:VSTS) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.20). The firm had revenue of $665.25 million during the quarter, compared to analysts’ expectations of $690.81 million. Vestis had a net margin of 0.34% and a return on equity of 7.91%. The business’s quarterly revenue was down 5.7% compared to the same quarter last year. Sell-side analysts expect that Vestis Co. will post 0.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Vestis

Several hedge funds have recently added to or reduced their stakes in the business. Barclays PLC increased its stake in shares of Vestis by 445.4% during the 3rd quarter. Barclays PLC now owns 51,981 shares of the company’s stock worth $774,000 after purchasing an additional 42,450 shares in the last quarter. Franklin Resources Inc. grew its holdings in Vestis by 34.1% during the 3rd quarter. Franklin Resources Inc. now owns 561,384 shares of the company’s stock valued at $8,404,000 after buying an additional 142,854 shares during the last quarter. GAMMA Investing LLC increased its position in Vestis by 17.9% during the fourth quarter. GAMMA Investing LLC now owns 4,670 shares of the company’s stock worth $71,000 after buying an additional 710 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Vestis by 3.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 45,687 shares of the company’s stock worth $681,000 after buying an additional 1,735 shares in the last quarter. Finally, Pallas Capital Advisors LLC raised its holdings in shares of Vestis by 13.9% in the fourth quarter. Pallas Capital Advisors LLC now owns 26,868 shares of the company’s stock worth $409,000 after acquiring an additional 3,287 shares during the last quarter. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on VSTS. Robert W. Baird cut their target price on Vestis from $17.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, March 20th. Barclays cut their price objective on Vestis from $10.00 to $5.00 and set an “underweight” rating for the company in a research report on Friday. Finally, The Goldman Sachs Group lowered their price target on shares of Vestis from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Monday, March 17th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $11.75.

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.