Vestis Co. (NYSE:VSTS) COO William J. Seward Acquires 10,000 Shares

Vestis Co. (NYSE:VSTS - Get Free Report) COO William J. Seward purchased 10,000 shares of the business's stock in a transaction dated 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 purchase, the chief operating officer now directly owns 130,862 shares of the company's stock, valued at $815,270.26. This trade represents a 8.27% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Vestis Trading Down 0.7%

NYSE:VSTS traded down $0.04 during mid-day trading on Friday, hitting $6.16. The company had a trading volume of 1,939,836 shares, compared to its average volume of 2,139,607. Vestis Co. has a fifty-two week low of $5.20 and a fifty-two week high of $17.83. The business's fifty day moving average is $8.59 and its two-hundred day moving average is $12.60. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.43 and a current ratio of 1.80. The firm has a market cap of $811.52 million, a P/E ratio of 76.98 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) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.20). The company had revenue of $665.25 million during the quarter, compared to analyst estimates of $690.81 million. Vestis had a net margin of 0.34% and a return on equity of 7.91%. Vestis's revenue for the quarter was down 5.7% compared to the same quarter last year. As a group, research analysts expect that Vestis Co. will post 0.7 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of VSTS. Annex Advisory Services LLC raised its stake in shares of Vestis by 13.5% during the 4th quarter. Annex Advisory Services LLC now owns 293,899 shares of the company's stock worth $4,479,000 after purchasing an additional 34,951 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Vestis during the 4th quarter worth approximately $2,194,000. Proficio Capital Partners LLC bought a new stake in shares of Vestis during the 4th quarter worth approximately $185,000. Ieq Capital LLC raised its stake in shares of Vestis by 689.7% during the 4th quarter. Ieq Capital LLC now owns 160,671 shares of the company's stock worth $2,449,000 after purchasing an additional 140,324 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Vestis by 17.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,538,882 shares of the company's stock worth $38,693,000 after purchasing an additional 382,071 shares in the last quarter. 97.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

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.