Vestis (NYSE:VSTS) Stock Price Down 6.6% – Here’s Why

Vestis Corporation (NYSE:VSTS)’s share price fell 6.6% on Wednesday . The company traded as low as $6.25 and last traded at $6.3020. 1,471,231 shares were traded during trading, a decline of 15% from the average session volume of 1,724,435 shares. The stock had previously closed at $6.75.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Weiss Ratings reissued a “sell (d)” rating on shares of Vestis in a research report on Wednesday, January 21st. JPMorgan Chase & Co. boosted their target price on shares of Vestis from $5.50 to $6.00 and gave the stock an “underweight” rating in a report on Wednesday, December 3rd. Robert W. Baird raised their target price on shares of Vestis from $5.00 to $6.50 and gave the company a “neutral” rating in a research note on Tuesday, December 2nd. Finally, The Goldman Sachs Group cut Vestis from a “neutral” rating to a “sell” rating and decreased their price target for the company from $6.30 to $5.30 in a research note on Thursday, January 8th. One investment analyst has rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Strong Sell” and an average price target of $5.70.

Vestis Stock Performance

The company has a quick ratio of 1.64, a current ratio of 2.08 and a debt-to-equity ratio of 1.49. The stock has a market capitalization of $834.58 million, a PE ratio of -20.40 and a beta of 0.73. The firm has a 50 day moving average price of $6.69 and a 200-day moving average price of $5.62.

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

Insider Buying and Selling

In other news, Director Keith A. Meister acquired 209,842 shares of the company’s stock in a transaction dated Wednesday, December 17th. The shares were acquired at an average price of $6.79 per share, with a total value of $1,424,827.18. Following the purchase, the director directly 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Douglas A. Pertz bought 15,000 shares of the firm’s stock in a transaction that occurred on Friday, December 19th. The stock was purchased at an average price of $6.90 per share, with a total value of $103,500.00. Following the completion of the purchase, the director owned 322,010 shares in the company, valued at approximately $2,221,869. This trade represents a 4.89% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have acquired 1,205,810 shares of company stock worth $8,138,302. 15.70% of the stock is currently owned by company insiders.

Institutional Trading of Vestis

Several institutional investors have recently modified their holdings of the stock. Abacus Planning Group Inc. raised its position in Vestis by 8.9% in the third quarter. Abacus Planning Group Inc. now owns 28,058 shares of the company’s stock valued at $127,000 after purchasing an additional 2,294 shares during the period. Captrust Financial Advisors grew its stake in shares of Vestis by 15.6% in the second quarter. Captrust Financial Advisors now owns 20,599 shares of the company’s stock valued at $118,000 after buying an additional 2,787 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Vestis by 147.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,175 shares of the company’s stock valued at $35,000 after buying an additional 3,082 shares during the period. Farther Finance Advisors LLC lifted its stake in Vestis by 176.1% during the 4th quarter. Farther Finance Advisors LLC now owns 5,193 shares of the company’s stock worth $35,000 after acquiring an additional 3,312 shares in the last quarter. Finally, Mariner LLC boosted its holdings in Vestis by 3.2% during the 3rd quarter. Mariner LLC now owns 123,981 shares of the company’s stock valued at $562,000 after acquiring an additional 3,798 shares during the period. Institutional investors and hedge funds own 97.40% 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. The company serves manufacturing, hospitality, retail, food processing, food service, pharmaceuticals, healthcare, automotive, and cleanroom industries.