Insider Buying: Vestis Co. (NYSE:VSTS) Director Purchases $200,586.00 in Stock

Vestis Co. (NYSE:VSTS) Director James Phillip Holloman bought 20,200 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were bought at an average price of $9.93 per share, with a total value of $200,586.00. Following the completion of the purchase, the director now owns 44,132 shares in the company, valued at $438,230.76. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Vestis Trading Up 3.1 %

Shares of NYSE:VSTS opened at $10.55 on Thursday. The company’s fifty day moving average is $17.83 and its 200-day moving average is $18.60. The company has a debt-to-equity ratio of 1.69, a quick ratio of 2.16 and a current ratio of 2.51. Vestis Co. has a 52 week low of $8.92 and a 52 week high of $22.37.

Vestis (NYSE:VSTS) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.09). The business had revenue of $705.37 million for the quarter, compared to analysts’ expectations of $722.54 million. The company’s revenue for the quarter was up .9% compared to the same quarter last year. On average, equities analysts forecast that Vestis Co. will post 1.03 EPS for the current fiscal year.

Vestis Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Friday, March 15th were issued a dividend of $0.035 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.14 dividend on an annualized basis and a yield of 1.33%.

Hedge Funds Weigh In On Vestis

Several institutional investors have recently bought and sold shares of VSTS. Vanguard Group Inc. bought a new position in shares of Vestis in the fourth quarter valued at about $302,586,000. Capital International Investors acquired a new position in Vestis during the 4th quarter valued at about $125,586,000. Channing Capital Management LLC bought a new position in shares of Vestis in the 4th quarter valued at about $72,529,000. Wellington Management Group LLP acquired a new stake in shares of Vestis during the 4th quarter worth approximately $56,431,000. Finally, Victory Capital Management Inc. bought a new stake in shares of Vestis during the fourth quarter worth approximately $48,292,000. Institutional investors own 97.40% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on VSTS shares. Wolfe Research began coverage on shares of Vestis in a research report on Thursday, January 11th. They set an “outperform” rating and a $24.00 price objective for the company. Robert W. Baird decreased their price objective on Vestis from $24.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. Barclays cut their target price on Vestis from $19.00 to $10.00 and set an “underweight” rating for the company in a research note on Friday, May 3rd. JPMorgan Chase & Co. lowered shares of Vestis from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $22.00 to $11.00 in a report on Friday, May 3rd. Finally, Redburn Atlantic downgraded shares of Vestis from a “buy” rating to a “neutral” rating and set a $13.40 price objective for the company. in a report on Tuesday. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $16.38.

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.