Key Points
- Vestis CEO James Barber purchased 84,500 shares at an average price of $12.37, investing approximately $1.05 million and increasing his direct ownership by 10.8% to 867,222 shares.
- Vestis reported quarterly earnings of $0.18 per share, beating estimates of $0.10, while revenue of $661.66 million came in below the $668.94 million consensus forecast.
- Analysts remain cautious, with Vestis carrying a consensus “Reduce” rating and an average price target of $12.66; institutional investors own approximately 97.4% of the company.
Vestis Corporation (NYSE:VSTS - Get Free Report) CEO James Barber acquired 84,500 shares of the company's stock in a transaction dated Wednesday, September 2nd. The stock was bought at an average cost of $12.37 per share, for a total transaction of $1,045,265.00. Following the completion of the transaction, the chief executive officer directly owned 867,222 shares of the company's stock, valued at approximately $10,727,536.14. This trade represents a 10.80% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Vestis Stock Performance
Shares of VSTS stock opened at $12.53 on Friday. Vestis Corporation has a 52 week low of $3.98 and a 52 week high of $16.90. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of -250.55 and a beta of 0.95. The company has a 50-day simple moving average of $14.14 and a 200 day simple moving average of $11.37. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.75 and a current ratio of 2.17.
Vestis (NYSE:VSTS - Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.08. The firm had revenue of $661.66 million for the quarter, compared to analysts' expectations of $668.94 million. Vestis had a negative net margin of 0.20% and a positive return on equity of 7.27%. On average, sell-side analysts predict that Vestis Corporation will post 0.62 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on VSTS shares. Barclays lifted their price target on Vestis from $9.00 to $11.00 and gave the stock an "underweight" rating in a report on Wednesday, August 12th. Stifel Nicolaus lifted their target price on Vestis from $11.00 to $14.00 and gave the stock a "hold" rating in a report on Wednesday, August 12th. Zacks Research cut shares of Vestis from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 10th. JPMorgan Chase & Co. raised their price target on shares of Vestis from $11.00 to $13.00 and gave the stock an "underweight" rating in a research report on Thursday, August 13th. Finally, Robert W. Baird lifted their price objective on shares of Vestis from $15.00 to $16.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 12th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, Vestis currently has a consensus rating of "Reduce" and an average target price of $12.66.
Get Our Latest Stock Report on Vestis
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the business. Royal Bank of Canada lifted its holdings in shares of Vestis by 1,520.5% in the fourth quarter. Royal Bank of Canada now owns 5,688,399 shares of the company's stock worth $37,942,000 after acquiring an additional 5,337,380 shares during the last quarter. Greenstone Partners & Co. LLC bought a new stake in shares of Vestis during the 4th quarter valued at approximately $33,979,000. Jacobs Levy Equity Management Inc. increased its position in 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 worth $8,879,000 after purchasing an additional 1,816,633 shares in the last quarter. SG Americas Securities LLC increased its position in Vestis by 571.0% during the 1st quarter. SG Americas Securities LLC now owns 1,979,460 shares of the company's stock worth $15,559,000 after purchasing an additional 1,684,460 shares in the last quarter. Finally, California State Teachers Retirement System lifted its stake in Vestis by 1,668.1% in the 2nd quarter. California State Teachers Retirement System now owns 1,630,741 shares of the company's stock valued at $23,678,000 after purchasing an additional 1,538,509 shares during the last quarter. Institutional investors and hedge funds own 97.40% of the company's stock.
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.
Further Reading
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