Insider Buying: Vestis Co. (NYSE:VSTS) COO Buys 10,000 Shares of Stock

Vestis Co. (NYSE:VSTS) COO William J. Seward acquired 10,000 shares of the stock in a transaction dated Thursday, May 8th. The stock was bought at an average price of $6.23 per share, for a total transaction of $62,300.00. Following the completion of the purchase, the chief operating officer now owns 130,862 shares in the company, valued at approximately $815,270.26. This trade represents a 8.27% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Vestis Stock Down 2.1%

NYSE VSTS opened at $6.41 on Wednesday. The firm has a market cap of $844.73 million, a PE ratio of 80.14 and a beta of 1.61. Vestis Co. has a one year low of $5.20 and a one year high of $17.83. The stock’s 50 day simple moving average is $8.89 and its 200 day simple moving average is $12.76. 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 released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.20). The business had revenue of $665.25 million for the quarter, compared to the consensus estimate of $690.81 million. Vestis had a return on equity of 7.91% and a net margin of 0.34%. The business’s revenue was down 5.7% on a year-over-year basis. As a group, sell-side analysts forecast that Vestis Co. will post 0.7 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on VSTS shares. The Goldman Sachs Group lowered their price objective on Vestis from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Monday, March 17th. Robert W. Baird lowered their price objective on Vestis from $17.00 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday, March 20th. Finally, Barclays lowered their price objective on Vestis from $10.00 to $5.00 and set an “underweight” rating on the stock in a research note on Friday, May 9th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $11.75.

Institutional Investors Weigh In On Vestis

A number of large investors have recently bought and sold shares of VSTS. Spire Wealth Management bought a new position in Vestis in the 4th quarter valued at $29,000. True Wealth Design LLC acquired a new stake in shares of Vestis in the 4th quarter valued at $29,000. Smartleaf Asset Management LLC increased its stake in shares of Vestis by 548.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,510 shares of the company’s stock valued at $38,000 after buying an additional 2,123 shares during the period. Copeland Capital Management LLC increased its stake in shares of Vestis by 33.0% in the 1st quarter. Copeland Capital Management LLC now owns 5,428 shares of the company’s stock valued at $54,000 after buying an additional 1,346 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Vestis by 17.9% in the 4th quarter. GAMMA Investing LLC now owns 4,670 shares of the company’s stock valued at $71,000 after buying an additional 710 shares during the period. 97.40% of the stock is currently owned by institutional investors.

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.