Vestis Corporation (NYSE:VSTS) Given Consensus Rating of “Strong Sell” by Analysts

Shares of Vestis Corporation (NYSE:VSTS) have received a consensus recommendation of “Strong Sell” from the five ratings firms that are presently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell rating and one has given a hold rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $5.8750.

Several analysts have commented on VSTS shares. Robert W. Baird raised their price objective on shares of Vestis from $5.00 to $6.50 and gave the stock a “neutral” rating in a report 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. The Goldman Sachs Group lifted their price target on Vestis from $5.30 to $6.00 and gave the company a “sell” rating in a research report on Wednesday, February 11th. Barclays reaffirmed an “underweight” rating on shares of Vestis in a research note on Tuesday, February 17th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Vestis in a report on Wednesday, January 21st.

Insider Buying and Selling

In related news, CEO James J. Barber bought 82,367 shares of the business’s stock in a transaction dated Thursday, December 4th. The shares were purchased at an average cost of $6.36 per share, with a total value of $523,854.12. Following the completion of the purchase, the chief executive officer owned 642,469 shares in the company, valued at approximately $4,086,102.84. The trade was a 14.71% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Keith A. Meister purchased 209,842 shares of Vestis stock in a transaction dated 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 completion of the acquisition, the director directly owned 19,813,963 shares of the company’s stock, valued at approximately $134,536,808.77. This represents a 1.07% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have purchased 1,205,810 shares of company stock worth $8,138,302. 15.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC boosted its position in shares of Vestis by 471.9% during the second quarter. EverSource Wealth Advisors LLC now owns 5,456 shares of the company’s stock valued at $31,000 after buying an additional 4,502 shares during the last quarter. Osaic Holdings Inc. boosted 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 during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Vestis by 147.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 5,175 shares of the company’s stock worth $35,000 after acquiring an additional 3,082 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Vestis by 176.1% in the fourth 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 during the period. Finally, Eurizon Capital SGR S.p.A. purchased a new position in shares of Vestis during the fourth quarter valued at approximately $36,000. 97.40% of the stock is owned by institutional investors.

Vestis Trading Down 1.8%

NYSE VSTS opened at $7.73 on Monday. The firm has a market cap of $1.02 billion, a PE ratio of -20.99 and a beta of 0.48. Vestis has a 1-year low of $3.98 and a 1-year high of $11.97. The stock has a 50-day moving average of $7.04 and a 200-day moving average of $5.88. The company has a current ratio of 2.17, a quick ratio of 1.74 and a debt-to-equity ratio of 1.48.

Vestis (NYSE:VSTS) last posted its quarterly earnings results on Tuesday, February 10th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.04. The business had revenue of $663.39 million for the quarter, compared to analyst estimates of $665.77 million. Vestis had a positive return on equity of 2.08% and a negative net margin of 1.75%.Vestis’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period last year, the company earned $0.14 EPS. As a group, sell-side analysts forecast that Vestis will post 0.7 EPS for the current year.

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.