Vestis Co. (NYSE:VSTS) COO Purchases $62,300.00 in Stock

Vestis Co. (NYSE:VSTS - Get Free Report) COO William J. Seward acquired 10,000 shares of the business's stock in a transaction dated Thursday, May 8th. The stock was purchased at an average cost of $6.23 per share, for a total transaction of $62,300.00. Following the transaction, the chief operating officer now owns 130,862 shares in the company, valued at approximately $815,270.26. The trade was a 8.27% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Vestis Stock Performance

Vestis stock traded up $0.29 during mid-day trading on Monday, reaching $6.58. 4,131,154 shares of the company traded hands, compared to its average volume of 2,149,589. The firm's fifty day moving average is $9.08 and its two-hundred day moving average is $12.86. The company has a market capitalization of $866.47 million, a price-to-earnings ratio of 82.20 and a beta of 1.61. Vestis Co. has a fifty-two week low of $5.20 and a fifty-two week high of $17.83. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.80 and a quick ratio of 1.43.

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Robert W. Baird lowered 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. Barclays lowered their price objective on Vestis from $10.00 to $5.00 and set an "underweight" rating for the company in a research report on Friday. Finally, The Goldman Sachs Group reduced their target price on Vestis from $15.00 to $13.00 and set a "neutral" rating on the stock in a research report on Monday, March 17th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat.com, Vestis currently has an average rating of "Hold" and a consensus target price of $11.75.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of VSTS. Annex Advisory Services LLC increased its holdings in Vestis by 13.5% in the 4th quarter. Annex Advisory Services LLC now owns 293,899 shares of the company's stock worth $4,479,000 after buying an additional 34,951 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Vestis in the 4th quarter valued at $2,194,000. Proficio Capital Partners LLC acquired a new stake in shares of Vestis in the fourth quarter worth $185,000. Ieq Capital LLC increased its stake in shares of Vestis by 689.7% in the fourth quarter. Ieq Capital LLC now owns 160,671 shares of the company's stock worth $2,449,000 after acquiring an additional 140,324 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Vestis by 17.7% during the fourth 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 during the last quarter. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.