Vestis (NYSE:VSTS) Posts Earnings Results, Beats Expectations By $0.04 EPS

Vestis (NYSE:VSTS) posted its quarterly earnings data on Tuesday. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.04, FiscalAI reports. Vestis had a positive return on equity of 2.62% and a negative net margin of 1.47%.The company had revenue of $663.39 million during the quarter, compared to analyst estimates of $665.77 million.

Vestis Stock Performance

NYSE:VSTS opened at $7.34 on Tuesday. The company has a market capitalization of $968.51 million, a price-to-earnings ratio of -23.68 and a beta of 0.73. The business has a 50 day moving average of $6.80 and a 200 day moving average of $5.66. The company has a debt-to-equity ratio of 1.49, a current ratio of 2.08 and a quick ratio of 1.64. Vestis has a 1-year low of $3.98 and a 1-year high of $13.90.

Insider Buying and Selling at Vestis

In other Vestis news, Director Keith A. Meister purchased 800,222 shares of the firm’s stock in a transaction on Tuesday, December 16th. The shares were purchased at an average cost of $6.81 per share, with a total value of $5,449,511.82. Following the completion of the purchase, the director owned 19,604,121 shares of the company’s stock, valued at $133,504,064.01. The trade was a 4.26% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO James J. Barber acquired 82,367 shares of the business’s stock in a transaction dated Thursday, December 4th. The stock was acquired at an average cost of $6.36 per share, with a total value of $523,854.12. Following the purchase, the chief executive officer directly owned 642,469 shares in the company, valued at $4,086,102.84. This represents a 14.71% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 1,205,810 shares of company stock valued at $8,138,302 over the last ninety days. Insiders own 15.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of VSTS. AQR Capital Management LLC increased its holdings in shares of Vestis by 19.8% in the second quarter. AQR Capital Management LLC now owns 5,593,129 shares of the company’s stock worth $32,049,000 after buying an additional 923,459 shares during the period. Dimensional Fund Advisors LP grew its position in Vestis by 0.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,587,432 shares of the company’s stock worth $20,780,000 after acquiring an additional 25,675 shares during the last quarter. Scopia Capital Management LP increased its stake in Vestis by 16.1% in the 2nd quarter. Scopia Capital Management LP now owns 2,896,583 shares of the company’s stock worth $16,597,000 after purchasing an additional 401,223 shares during the period. Geode Capital Management LLC increased its stake in Vestis by 7.8% in the 4th quarter. Geode Capital Management LLC now owns 2,713,396 shares of the company’s stock worth $18,101,000 after purchasing an additional 195,382 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its position in 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 valued at $8,879,000 after purchasing an additional 1,816,633 shares during the last quarter. 97.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on VSTS shares. Robert W. Baird raised their price target on Vestis from $5.00 to $6.50 and gave the company a “neutral” rating in a report on Tuesday, December 2nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Vestis in a research note on Wednesday, January 21st. JPMorgan Chase & Co. lifted their target price 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. Finally, The Goldman Sachs Group lowered shares of Vestis from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $6.30 to $5.30 in a report on Thursday, January 8th. One analyst has rated the stock with a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Strong Sell” and an average price target of $5.70.

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. The company serves manufacturing, hospitality, retail, food processing, food service, pharmaceuticals, healthcare, automotive, and cleanroom industries.