Vestis Co. (NYSE:VSTS) Director Keith A. Meister Acquires 109,008 Shares

Vestis Co. (NYSE:VSTS - Get Free Report) Director Keith A. Meister bought 109,008 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was bought at an average cost of $6.05 per share, with a total value of $659,498.40. Following the completion of the acquisition, the director now owns 18,489,509 shares of the company's stock, valued at $111,861,529.45. This represents a 0.59% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Vestis Price Performance

Shares of VSTS traded down $0.04 during mid-day trading on Friday, reaching $6.16. 1,997,471 shares of the company's stock were exchanged, compared to its average volume of 2,174,054. The company has a quick ratio of 1.43, a current ratio of 1.80 and a debt-to-equity ratio of 1.39. The company has a 50-day simple moving average of $7.68 and a two-hundred day simple moving average of $12.07. Vestis Co. has a 52-week low of $5.20 and a 52-week high of $17.83. The company has a market cap of $811.78 million, a price-to-earnings ratio of 77.01 and a beta of 1.61.

Vestis (NYSE:VSTS - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.15 by ($0.20). The firm had revenue of $665.25 million during the quarter, compared to analysts' expectations of $690.81 million. Vestis had a return on equity of 7.91% and a net margin of 0.34%. The firm's quarterly revenue was down 5.7% on a year-over-year basis. On average, sell-side analysts predict that Vestis Co. will post 0.7 EPS for the current fiscal year.

Institutional Trading of Vestis

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Spire Wealth Management acquired a new position in shares of Vestis in the 4th quarter valued at $29,000. Savant Capital LLC boosted its holdings in Vestis by 16.1% in the 4th quarter. Savant Capital LLC now owns 74,292 shares of the company's stock worth $1,132,000 after acquiring an additional 10,323 shares during the period. Rhumbline Advisers lifted its holdings in Vestis by 3.2% in the 4th quarter. Rhumbline Advisers now owns 289,052 shares of the company's stock worth $4,405,000 after buying an additional 9,076 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Vestis by 2.8% in the 4th quarter. Principal Financial Group Inc. now owns 555,225 shares of the company's stock worth $8,462,000 after buying an additional 15,176 shares in the last quarter. Finally, Sanctuary Advisors LLC lifted its holdings in Vestis by 19.5% in the 4th quarter. Sanctuary Advisors LLC now owns 22,609 shares of the company's stock worth $358,000 after buying an additional 3,686 shares in the last quarter. 97.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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.