Key Points
- Keith Meister purchased 800,222 Vestis shares on Dec. 16 at an average of $6.81 (~$5.45M), boosting his holding to 19,604,121 shares (a 4.26% increase) valued at about $133.5M.
- Vestis reported Q results showing $0.03 EPS (in line) and revenue of $712.0M (up 4.1% year-over-year), but the company has a negative net margin (-1.47%) and a negative PE, with a market cap of roughly $914.5M.
- Analyst sentiment is weak—MarketBeat shows a consensus rating of "Strong Sell" with a $5.95 price target (two Holds, three Sells)—and institutional investors own about 97.4% of the stock.
Vestis Corporation (NYSE:VSTS - Get Free Report) Director Keith Meister bought 209,842 shares of the stock in a transaction dated Wednesday, December 17th. The stock was bought at an average cost of $6.79 per share, for a total transaction of $1,424,827.18. Following the acquisition, the director directly owned 19,813,963 shares of the company's stock, valued at approximately $134,536,808.77. This represents a 1.07% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Vestis Stock Performance
Shares of NYSE VSTS opened at $7.28 on Thursday. The company has a market cap of $960.39 million, a P/E ratio of -23.47 and a beta of 0.78. Vestis Corporation has a 52-week low of $3.98 and a 52-week high of $16.68. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.64 and a current ratio of 2.08. The firm's fifty day moving average is $5.77 and its two-hundred day moving average is $5.49.
Vestis (NYSE:VSTS - Get Free Report) last issued its earnings results on Monday, December 1st. The company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. The firm had revenue of $712.01 million for the quarter, compared to analysts' expectations of $690.65 million. Vestis had a positive return on equity of 2.62% and a negative net margin of 1.47%.The business's revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.11 earnings per share. As a group, analysts anticipate that Vestis Corporation will post 0.7 EPS for the current fiscal year.
Hedge Funds Weigh In On Vestis
Several hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its stake in Vestis by 1.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,582,601 shares of the company's stock worth $25,568,000 after acquiring an additional 43,719 shares in the last quarter. Invesco Ltd. increased its holdings in Vestis by 15.6% during the 1st quarter. Invesco Ltd. now owns 701,596 shares of the company's stock worth $6,946,000 after purchasing an additional 94,695 shares during the period. Nuveen LLC purchased a new position in Vestis during the 1st quarter worth $2,746,000. Public Sector Pension Investment Board raised its position in Vestis by 27.5% during the 1st quarter. Public Sector Pension Investment Board now owns 363,484 shares of the company's stock valued at $3,598,000 after purchasing an additional 78,446 shares in the last quarter. Finally, HighTower Advisors LLC boosted its position in Vestis by 6.8% during the 1st quarter. HighTower Advisors LLC now owns 395,919 shares of the company's stock valued at $3,920,000 after acquiring an additional 25,106 shares in the last quarter. Institutional investors own 97.40% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on VSTS. JPMorgan Chase & Co. boosted their target price on shares of Vestis from $5.50 to $6.00 and gave the stock an "underweight" rating in a report on Wednesday, December 3rd. Weiss Ratings reissued a "sell (d)" rating on shares of Vestis in a research note on Wednesday, October 8th. Robert W. Baird raised their price objective on Vestis from $5.00 to $6.50 and gave the company a "neutral" rating in a research note on Tuesday, December 2nd. Finally, The Goldman Sachs Group boosted their target price on Vestis from $5.50 to $6.30 and gave the company a "neutral" rating in a research report on Tuesday, December 2nd. Two analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Vestis presently has a consensus rating of "Strong Sell" and a consensus target price of $5.95.
Check Out Our Latest Analysis on Vestis
About Vestis
(
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
