James Barber Buys 82,367 Shares of Vestis (NYSE:VSTS) Stock

Vestis Corporation (NYSE:VSTS) CEO James Barber bought 82,367 shares of the business’s stock in a transaction on Thursday, December 4th. The stock was bought at an average cost of $6.36 per share, for a total transaction of $523,854.12. Following the purchase, the chief executive officer directly owned 642,469 shares of the company’s stock, valued at approximately $4,086,102.84. This trade represents a 14.71% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Vestis Stock Performance

Shares of VSTS stock opened at $6.98 on Friday. The stock has a market cap of $920.45 million, a PE ratio of -22.52 and a beta of 0.78. The stock has a 50-day moving average of $5.40 and a 200-day moving average of $5.42. The company has a debt-to-equity ratio of 1.49, a current ratio of 2.08 and a quick ratio of 1.42. Vestis Corporation has a one year low of $3.98 and a one year high of $17.83.

Vestis (NYSE:VSTS) last released its quarterly earnings data on Monday, December 1st. The company reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03. Vestis had a negative net margin of 1.47% and a positive return on equity of 2.62%. The business had revenue of $712.01 million for the quarter, compared to analyst estimates of $690.65 million. During the same quarter last year, the firm earned $0.11 EPS. Vestis’s quarterly revenue was up 4.1% compared to the same quarter last year. As a group, sell-side analysts expect that Vestis Corporation will post 0.7 earnings per share for the current year.

Institutional Investors Weigh In On Vestis

Hedge funds and other institutional investors have recently bought and sold shares of the company. Alberta Investment Management Corp boosted its position in Vestis by 57.7% during the 2nd quarter. Alberta Investment Management Corp now owns 9,692,000 shares of the company’s stock worth $55,535,000 after acquiring an additional 3,547,000 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of Vestis by 1,265.8% in the third 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. Jane Street Group LLC boosted its holdings in 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 purchasing an additional 1,734,442 shares during the last quarter. AQR Capital Management LLC grew its position in Vestis by 49.4% in the first quarter. AQR Capital Management LLC now owns 4,669,670 shares of the company’s stock valued at $45,950,000 after purchasing an additional 1,544,001 shares in the last quarter. Finally, Medina Value Partners LLC acquired a new stake in Vestis in the 3rd quarter valued at $6,469,000. Institutional investors and hedge funds own 97.40% of the company’s stock.

Analyst Ratings Changes

VSTS has been the subject of a number of recent analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of Vestis in a research report on Wednesday, October 8th. Robert W. Baird increased their price target on Vestis from $5.00 to $6.50 and gave the stock a “neutral” rating in a report on Tuesday. Wall Street Zen upgraded Vestis from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. The Goldman Sachs Group increased their target price on Vestis from $5.50 to $6.30 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. lifted their price target on shares of Vestis from $5.50 to $6.00 and gave the company an “underweight” rating in a research note on Wednesday. Two investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Vestis currently has an average rating of “Strong Sell” and an average target price of $5.95.

About Vestis

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.