Keith A. Meister Buys 314,390 Shares of Vestis Co. (NYSE:VSTS) Stock

Vestis Co. (NYSE:VSTS - Get Free Report) Director Keith A. Meister acquired 314,390 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were purchased at an average cost of $6.03 per share, for a total transaction of $1,895,771.70. Following the completion of the acquisition, the director now directly owns 18,803,899 shares in the company, valued at approximately $113,387,510.97. The trade was a 1.70% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Vestis Stock Performance

Vestis stock traded down $0.04 during midday trading on Friday, reaching $6.16. The stock had a trading volume of 1,997,471 shares, compared to its average volume of 2,174,054. Vestis Co. has a 12 month low of $5.20 and a 12 month high of $17.83. The firm's 50-day moving average price is $7.68 and its 200 day moving average price is $12.07. The firm has a market capitalization of $811.78 million, a PE ratio of 77.01 and a beta of 1.61. The company has a quick ratio of 1.43, a current ratio of 1.80 and a debt-to-equity ratio of 1.39.

Vestis (NYSE:VSTS - Get Free Report) last announced its quarterly earnings data 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 net margin of 0.34% and a return on equity of 7.91%. The firm had revenue of $665.25 million during the quarter, compared to the consensus estimate of $690.81 million. The business's quarterly revenue was down 5.7% on a year-over-year basis. As a group, research analysts predict that Vestis Co. will post 0.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vestis

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Gamco Investors INC. ET AL increased its position in shares of Vestis by 2.0% during the fourth quarter. Gamco Investors INC. ET AL now owns 45,350 shares of the company's stock valued at $691,000 after buying an additional 875 shares during the period. Copeland Capital Management LLC increased its position in shares of Vestis by 33.0% during the first quarter. Copeland Capital Management LLC now owns 5,428 shares of the company's stock valued at $54,000 after buying an additional 1,346 shares during the period. Bank of Montreal Can increased its position in shares of Vestis by 11.1% during the fourth quarter. Bank of Montreal Can now owns 15,315 shares of the company's stock valued at $233,000 after buying an additional 1,534 shares during the period. Swiss National Bank increased its position in shares of Vestis by 0.7% during the fourth quarter. Swiss National Bank now owns 232,750 shares of the company's stock valued at $3,547,000 after buying an additional 1,700 shares during the period. Finally, Landscape Capital Management L.L.C. increased its position in shares of Vestis by 10.5% during the first quarter. Landscape Capital Management L.L.C. now owns 18,447 shares of the company's stock valued at $183,000 after buying an additional 1,753 shares during the period. 97.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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