William Goetz Purchases 6,746 Shares of Vestis (NYSE:VSTS) Stock

Vestis Corporation (NYSE:VSTS) Director William Goetz bought 6,746 shares of the company’s stock in a transaction on Monday, December 8th. The stock was bought at an average cost of $7.42 per share, with a total value of $50,055.32. Following the completion of the acquisition, the director owned 29,877 shares of the company’s stock, valued at $221,687.34. This represents a 29.16% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Vestis Trading Down 3.5%

Shares of Vestis stock traded down $0.26 during mid-day trading on Tuesday, hitting $7.14. 2,510,687 shares of the stock were exchanged, compared to its average volume of 2,365,160. The company has a current ratio of 2.08, a quick ratio of 1.64 and a debt-to-equity ratio of 1.49. The stock has a market capitalization of $941.79 million, a price-to-earnings ratio of -23.04 and a beta of 0.78. The company has a 50-day simple moving average of $5.51 and a 200 day simple moving average of $5.44. Vestis Corporation has a twelve month low of $3.98 and a twelve month high of $17.83.

Vestis (NYSE:VSTS) last announced its quarterly earnings results on Monday, December 1st. The company reported $0.03 EPS for the quarter, hitting the consensus estimate of $0.03. The company had revenue of $712.01 million during the quarter, compared to analyst estimates of $690.65 million. Vestis had a positive return on equity of 2.62% and a negative net margin of 1.47%.The firm’s revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.11 earnings per share. Research analysts forecast that Vestis Corporation will post 0.7 EPS for the current year.

Institutional Investors Weigh In On Vestis

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC boosted its position in shares of Vestis by 471.9% in the second quarter. EverSource Wealth Advisors LLC now owns 5,456 shares of the company’s stock valued at $31,000 after acquiring an additional 4,502 shares during the period. Osaic Holdings Inc. raised its position in Vestis by 703.2% during the second quarter. Osaic Holdings Inc. now owns 5,743 shares of the company’s stock valued at $33,000 after purchasing an additional 5,028 shares in the last quarter. Simplicity Wealth LLC purchased a new stake in Vestis during the third quarter valued at about $46,000. Sanders Morris Harris LLC purchased a new position in shares of Vestis in the 3rd quarter worth about $47,000. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Vestis by 331.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 9,427 shares of the company’s stock worth $54,000 after purchasing an additional 7,242 shares in the last quarter. Institutional investors own 97.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on VSTS shares. The Goldman Sachs Group upped their price objective on shares of Vestis from $5.50 to $6.30 and gave the company a “neutral” rating in a research report on Tuesday, December 2nd. Robert W. Baird boosted 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. Weiss Ratings reissued a “sell (d)” rating on shares of Vestis in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Vestis from $5.50 to $6.00 and gave the company an “underweight” rating in a research report on Wednesday, December 3rd. Two research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Strong Sell” and a consensus target price of $5.95.

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.