Key Points
- Director Douglas Pertz bought 10,000 Vestis shares on December 18 at an average price of $6.90 (≈$69,000), increasing his stake to 307,010 shares (a 3.37% rise).
- Vestis reported Q results with $0.03 EPS (in line) and revenue of $712.01M (beat estimates, +4.1% YoY), but the company still has a negative net margin (-1.47%) and a negative P/E.
- Institutional ownership is very high (97.4%) with several funds adding positions, yet analysts maintain a consensus rating of "Strong Sell" and a $5.95 average price target.
Vestis Corporation (NYSE:VSTS - Get Free Report) Director Douglas Pertz purchased 10,000 shares of Vestis stock in a transaction dated Thursday, December 18th. The shares were acquired at an average cost of $6.90 per share, for a total transaction of $69,000.00. Following the transaction, the director directly owned 307,010 shares of the company's stock, valued at approximately $2,118,369. This represents a 3.37% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Vestis Trading Up 4.1%
VSTS opened at $7.16 on Tuesday. The business has a fifty day moving average price of $5.90 and a 200 day moving average price of $5.50. The company has a debt-to-equity ratio of 1.49, a current ratio of 2.08 and a quick ratio of 1.64. Vestis Corporation has a 12 month low of $3.98 and a 12 month high of $16.68. The stock has a market capitalization of $943.53 million, a price-to-earnings ratio of -23.08 and a beta of 0.76.
Vestis (NYSE:VSTS - Get Free Report) last announced its quarterly earnings data on Monday, December 1st. The company reported $0.03 EPS for the quarter, meeting analysts' consensus estimates of $0.03. Vestis had a negative net margin of 1.47% and a positive return on equity of 2.62%. The company had revenue of $712.01 million for the quarter, compared to the consensus estimate of $690.65 million. During the same period in the prior year, the firm posted $0.11 EPS. The company's quarterly revenue was up 4.1% compared to the same quarter last year. Sell-side analysts expect that Vestis Corporation will post 0.7 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the company. Alberta Investment Management Corp increased its position 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 buying an additional 3,547,000 shares during the period. Jacobs Levy Equity Management Inc. grew its position in shares of Vestis by 1,265.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,960,150 shares of the company's stock worth $8,879,000 after acquiring an additional 1,816,633 shares during the last quarter. Jane Street Group LLC grew its position in shares of Vestis by 700.5% during the first quarter. Jane Street Group LLC now owns 1,982,027 shares of the company's stock worth $19,622,000 after acquiring an additional 1,734,442 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Vestis by 49.4% in the 1st quarter. AQR Capital Management LLC now owns 4,669,670 shares of the company's stock valued at $45,950,000 after acquiring an additional 1,544,001 shares during the period. Finally, Medina Value Partners LLC purchased a new stake in Vestis in the 3rd quarter valued at $6,469,000. Hedge funds and other institutional investors own 97.40% of the company's stock.
Analysts Set New Price Targets
Several research analysts have recently issued reports on VSTS shares. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Vestis in a research report on Wednesday, October 8th. Robert W. Baird upped their price target on Vestis from $5.00 to $6.50 and gave the company a "neutral" rating in a report on Tuesday, December 2nd. The Goldman Sachs Group raised their price objective on shares of Vestis from $5.50 to $6.30 and gave the stock a "neutral" rating in a report on Tuesday, December 2nd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Vestis from $5.50 to $6.00 and gave the stock an "underweight" rating in a research report on Wednesday, December 3rd. Two analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, Vestis presently has an average rating of "Strong Sell" and a consensus price target of $5.95.
Read Our Latest Analysis on VSTS
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. The company serves manufacturing, hospitality, retail, food processing, food service, pharmaceuticals, healthcare, automotive, and cleanroom industries.
Featured Articles
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].
