BNP Paribas Financial Markets Buys Shares of 89,037 Vestis Co. (NYSE:VSTS)

BNP Paribas Financial Markets purchased a new stake in Vestis Co. (NYSE:VSTS - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 89,037 shares of the company's stock, valued at approximately $1,357,000. BNP Paribas Financial Markets owned approximately 0.07% of Vestis as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Spire Wealth Management purchased a new position in shares of Vestis in the fourth quarter worth approximately $29,000. Smartleaf Asset Management LLC boosted its stake in Vestis by 548.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,510 shares of the company's stock worth $38,000 after purchasing an additional 2,123 shares during the period. Quantbot Technologies LP purchased a new position in Vestis during the 4th quarter worth approximately $93,000. Sterling Capital Management LLC raised its stake in Vestis by 45.9% during the 4th quarter. Sterling Capital Management LLC now owns 7,882 shares of the company's stock valued at $120,000 after purchasing an additional 2,479 shares during the period. Finally, CIBC Asset Management Inc purchased a new stake in shares of Vestis in the fourth quarter valued at $180,000. Institutional investors and hedge funds own 97.40% of the company's stock.

Vestis Stock Performance

Shares of NYSE:VSTS traded up $0.22 on Friday, hitting $5.97. 2,788,971 shares of the company were exchanged, compared to its average volume of 2,156,962. The company's 50 day moving average price is $8.09 and its two-hundred day moving average price is $12.32. The firm has a market capitalization of $786.74 million, a price-to-earnings ratio of 74.63 and a beta of 1.61. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.43 and a current ratio of 1.80. Vestis Co. has a one year low of $5.20 and a one year high of $17.83.

Vestis (NYSE:VSTS - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.20). Vestis had a net margin of 0.34% and a return on equity of 7.91%. The firm had revenue of $665.25 million for the quarter, compared to the consensus estimate of $690.81 million. The business's revenue for the quarter was down 5.7% compared to the same quarter last year. Research analysts expect that Vestis Co. will post 0.7 earnings per share for the current year.

Analysts Set New Price Targets

VSTS has been the topic of a number of research analyst reports. The Goldman Sachs Group lowered their price target on Vestis from $15.00 to $13.00 and set a "neutral" rating on the stock in a report on Monday, March 17th. Robert W. Baird reduced their target price on shares of Vestis from $17.00 to $13.00 and set a "neutral" rating for the company in a research note on Thursday, March 20th. Finally, Barclays decreased their price target on Vestis from $10.00 to $5.00 and set an "underweight" rating for the company in a research note on Friday, May 9th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $11.75.

Insider Activity

In related news, COO William J. Seward purchased 10,000 shares of the stock in a transaction on Thursday, May 8th. The shares were purchased at an average cost of $6.23 per share, for a total transaction of $62,300.00. Following the completion of the transaction, the chief operating officer now directly owns 130,862 shares of the company's stock, valued at approximately $815,270.26. The trade was a 8.27% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Douglas A. Pertz acquired 70,000 shares of the business's stock in a transaction on Thursday, May 8th. The shares were bought at an average cost of $6.17 per share, with a total value of $431,900.00. Following the completion of the acquisition, the director now owns 297,010 shares of the company's stock, valued at approximately $1,832,551.70. This trade represents a 30.84% increase in their position. The disclosure for this purchase can be found here. 13.60% of the stock is currently owned by company insiders.

Vestis 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.