Toronto Dominion Bank Takes $154,000 Position in Vestis Co. (NYSE:VSTS)

Toronto Dominion Bank purchased a new position in Vestis Co. (NYSE:VSTS) during the fourth quarter, HoldingsChannel reports. The firm purchased 10,078 shares of the company’s stock, valued at approximately $154,000.

Other hedge funds have also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new position in shares of Vestis in the fourth quarter worth about $2,194,000. Proficio Capital Partners LLC bought a new position in shares of Vestis in the fourth quarter worth about $185,000. Ieq Capital LLC grew its holdings in shares of Vestis by 689.7% in the fourth quarter. Ieq Capital LLC now owns 160,671 shares of the company’s stock worth $2,449,000 after purchasing an additional 140,324 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Vestis by 17.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,538,882 shares of the company’s stock worth $38,693,000 after acquiring an additional 382,071 shares during the period. Finally, Pacer Advisors Inc. purchased a new stake in Vestis in the fourth quarter worth about $210,766,000. 97.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on VSTS shares. Barclays lowered their price objective on shares of Vestis from $10.00 to $5.00 and set an “underweight” rating for the company in a research note on Friday, May 9th. Robert W. Baird lowered their price objective on shares of Vestis from $17.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, March 20th. Finally, The Goldman Sachs Group lowered their price objective on shares of Vestis from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Monday, March 17th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat, Vestis currently has an average rating of “Hold” and an average price target of $11.75.

Vestis Stock Performance

VSTS stock opened at $5.97 on Friday. The firm has a market cap of $786.74 million, a price-to-earnings ratio of 74.63 and a beta of 1.61. The firm has a 50-day simple moving average of $8.09 and a two-hundred day simple moving average of $12.33. Vestis Co. has a one year low of $5.20 and a one year high of $17.83. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.43 and a current ratio of 1.80.

Vestis (NYSE:VSTS) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.15 by ($0.20). The firm had revenue of $665.25 million for the quarter, compared to analysts’ expectations of $690.81 million. Vestis had a net margin of 0.34% and a return on equity of 7.91%. Vestis’s revenue for the quarter was down 5.7% compared to the same quarter last year. On average, equities analysts forecast that Vestis Co. will post 0.7 EPS for the current fiscal year.

Insider Buying and Selling at Vestis

In other news, COO William J. Seward purchased 10,000 shares of the firm’s stock in a transaction on Thursday, May 8th. The stock was acquired at an average cost of $6.23 per share, with a total value of $62,300.00. Following the completion of the transaction, the chief operating officer now owns 130,862 shares in the company, valued at $815,270.26. This represents a 8.27% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Douglas A. Pertz purchased 70,000 shares of the firm’s stock in a transaction on Thursday, May 8th. The shares were purchased at an average cost of $6.17 per share, with a total value of $431,900.00. Following the completion of the transaction, the director now owns 297,010 shares of the company’s stock, valued at approximately $1,832,551.70. The trade was a 30.84% increase in their position. The disclosure for this purchase can be found here. Insiders own 13.60% of the company’s stock.

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.