Key Points
- William Goetz bought 6,746 Vestis shares on Dec. 8 at $7.42 each (~$50,055), increasing his holding to 29,877 shares (a 29.16% rise) valued at about $221,687.
- Vestis reported quarterly EPS of $0.03 (in line with estimates) and revenue of $712.01M (above consensus), but the company still shows a negative net margin (-1.47%) and a negative PE (-23.04).
- The stock opened near $7.14 (down ~3.5%); analysts’ consensus is a "Strong Sell" with an average target of $5.95, though several firms recently raised targets into the $6.00–$6.50 range.
Vestis Corporation (NYSE:VSTS - Get Free Report) Director William Goetz bought 6,746 shares of Vestis stock in a transaction that occurred on Monday, December 8th. The shares were bought at an average cost of $7.42 per share, with a total value of $50,055.32. Following the acquisition, the director directly owned 29,877 shares in the company, valued at $221,687.34. This trade represents a 29.16% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Vestis Trading Down 3.5%
Shares of NYSE:VSTS opened at $7.14 on Wednesday. The stock has a market cap of $941.82 million, a PE ratio of -23.04 and a beta of 0.78. The company has a quick ratio of 1.64, a current ratio of 2.08 and a debt-to-equity ratio of 1.49. Vestis Corporation has a 12-month low of $3.98 and a 12-month high of $17.83. The business has a 50 day moving average of $5.51 and a 200-day moving average of $5.44.
Vestis (NYSE:VSTS - Get Free Report) last released its quarterly earnings results on Monday, December 1st. The company reported $0.03 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.03. Vestis had a positive return on equity of 2.62% and a negative net margin of 1.47%.The business had revenue of $712.01 million during the quarter, compared to the consensus estimate of $690.65 million. During the same period in the previous year, the company posted $0.11 EPS. The firm's quarterly revenue was up 4.1% on a year-over-year basis. As a group, equities research analysts forecast that Vestis Corporation will post 0.7 earnings per share for the current year.
Analysts Set New Price Targets
Several research firms recently commented on VSTS. JPMorgan Chase & Co. upped their price target on shares of Vestis from $5.50 to $6.00 and gave the company an "underweight" rating in a research note on Wednesday, December 3rd. The Goldman Sachs Group raised their target price on shares of Vestis from $5.50 to $6.30 and gave the stock a "neutral" rating in a report on Tuesday, December 2nd. Robert W. Baird increased their price target on Vestis from $5.00 to $6.50 and gave the stock a "neutral" rating in a research report on Tuesday, December 2nd. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Vestis in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Strong Sell" and a consensus target price of $5.95.
Check Out Our Latest Stock Report on VSTS
Institutional Trading of Vestis
Large investors have recently bought and sold shares of the business. Alberta Investment Management Corp raised its stake in Vestis by 57.7% during the second quarter. Alberta Investment Management Corp now owns 9,692,000 shares of the company's stock worth $55,535,000 after acquiring an additional 3,547,000 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of Vestis by 1,265.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,960,150 shares of the company's stock valued at $8,879,000 after purchasing an additional 1,816,633 shares during the last quarter. Jane Street Group LLC increased its position in Vestis by 700.5% during the 1st quarter. Jane Street Group LLC now owns 1,982,027 shares of the company's stock worth $19,622,000 after purchasing an additional 1,734,442 shares in the last quarter. AQR Capital Management LLC boosted its position in Vestis by 49.4% in the first quarter. AQR Capital Management LLC now owns 4,669,670 shares of the company's stock valued at $45,950,000 after buying an additional 1,544,001 shares in the last quarter. Finally, Medina Value Partners LLC acquired a new stake in Vestis in the third quarter valued at approximately $6,469,000. 97.40% of the stock is owned by institutional investors and hedge funds.
Vestis Company Profile
(
Get Free Report)
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.
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