Insider Buying: Vestis Co. (NYSE:VSTS) Director Purchases 20,200 Shares of Stock

Vestis Co. (NYSE:VSTS) Director James Phillip Holloman purchased 20,200 shares of Vestis stock in a transaction on Friday, May 3rd. The shares were acquired at an average price of $9.93 per share, for a total transaction of $200,586.00. Following the completion of the transaction, the director now directly owns 44,132 shares of the company’s stock, valued at $438,230.76. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Vestis Stock Performance

Shares of NYSE:VSTS traded up $0.50 during trading on Monday, reaching $9.91. 11,841,548 shares of the company traded hands, compared to its average volume of 2,265,872. Vestis Co. has a 52-week low of $8.92 and a 52-week high of $22.37. The company has a debt-to-equity ratio of 1.69, a quick ratio of 2.16 and a current ratio of 2.51. The business’s fifty day moving average is $18.38 and its 200-day moving average is $18.72.

Vestis (NYSE:VSTS) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.09). The company had revenue of $705.37 million during the quarter, compared to the consensus estimate of $722.54 million. The firm’s revenue for the quarter was up .9% on a year-over-year basis. On average, equities research analysts expect that Vestis Co. will post 1.03 earnings per share for the current year.

Vestis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Friday, March 15th were paid a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend was Thursday, March 14th.

Analyst Ratings Changes

A number of research analysts have commented on VSTS shares. Wolfe Research started coverage on shares of Vestis in a research report on Thursday, January 11th. They set an “outperform” rating and a $24.00 price target on the stock. Robert W. Baird reduced their price target on shares of Vestis from $24.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday. Stifel Nicolaus reiterated a “hold” rating on shares of Vestis in a research report on Friday. JPMorgan Chase & Co. cut shares of Vestis from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $22.00 to $11.00 in a research report on Friday. Finally, The Goldman Sachs Group reduced their price target on shares of Vestis from $20.00 to $11.00 and set a “neutral” rating on the stock in a research report on Monday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $18.11.

Institutional Trading of Vestis

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nordea Investment Management AB purchased a new stake in Vestis in the fourth quarter worth $3,909,000. Wolverine Asset Management LLC lifted its stake in Vestis by 48.0% in the fourth quarter. Wolverine Asset Management LLC now owns 185,000 shares of the company’s stock worth $3,911,000 after acquiring an additional 60,000 shares during the period. New York State Teachers Retirement System bought a new position in Vestis in the fourth quarter worth $1,697,000. Yousif Capital Management LLC bought a new position in Vestis in the fourth quarter worth $1,400,000. Finally, State of New Jersey Common Pension Fund D bought a new position in Vestis in the fourth quarter worth $3,160,000. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Vestis Company Profile

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.