Keith Meister Purchases 209,842 Shares of Vestis (NYSE:VSTS) Stock

Vestis Corporation (NYSE:VSTS) Director Keith Meister purchased 209,842 shares of Vestis stock in a transaction that occurred on Wednesday, December 17th. The shares were bought at an average price of $6.79 per share, with a total value of $1,424,827.18. Following the transaction, the director owned 19,813,963 shares of the company’s stock, valued at $134,536,808.77. This trade represents a 1.07% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Vestis Price Performance

Shares of Vestis stock traded up $0.04 during trading on Wednesday, hitting $6.94. The stock had a trading volume of 3,447,881 shares, compared to its average volume of 2,384,297. 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 business’s 50-day moving average is $5.77 and its 200 day moving average is $5.49. The firm has a market cap of $914.52 million, a price-to-earnings ratio of -22.37 and a beta of 0.78. Vestis Corporation has a 12 month low of $3.98 and a 12 month high of $16.68.

Vestis (NYSE:VSTS) last released its earnings results on Monday, December 1st. The company reported $0.03 EPS for the quarter, meeting analysts’ consensus estimates of $0.03. The business had revenue of $712.01 million for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the firm earned $0.11 earnings per share. As a group, sell-side analysts anticipate that Vestis Corporation will post 0.7 earnings per share for the current year.

Institutional Investors Weigh In On Vestis

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on VSTS. Weiss Ratings reiterated a “sell (d)” rating on shares of Vestis in a research report on Wednesday, October 8th. Robert W. Baird raised their target price on shares of Vestis from $5.00 to $6.50 and gave the stock a “neutral” rating in a research note on Tuesday, December 2nd. JPMorgan Chase & Co. increased their target price on Vestis from $5.50 to $6.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 3rd. Finally, The Goldman Sachs Group upped their target price on shares of Vestis from $5.50 to $6.30 and gave the stock a “neutral” rating in a research report on Tuesday, December 2nd. Two equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from 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.