Vestis (NYSE:VSTS) Stock Price Down 5% - Should You Sell?

Vestis Corporation (NYSE:VSTS - Get Free Report)'s share price fell 5% on Monday . The stock traded as low as $5.78 and last traded at $5.81. 571,485 shares changed hands during trading, a decline of 76% from the average session volume of 2,407,084 shares. The stock had previously closed at $6.11.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on VSTS. Barclays dropped their price target on shares of 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 dropped their price target on shares of 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 dropped their price target on shares of 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 four have given a hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $11.75.

Vestis Stock Down 5.9%

The company's 50 day moving average price is $6.64 and its two-hundred day moving average price is $10.62. The firm has a market cap of $757.74 million, a PE ratio of -31.94 and a beta of 1.05. The company has a current ratio of 1.87, a quick ratio of 1.41 and a debt-to-equity ratio of 1.46.

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 analysts' consensus estimates of $0.15 by ($0.20). Vestis had a negative net margin of 0.89% and a positive return on equity of 5.36%. The firm had revenue of $665.25 million for 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 Corporation will post 0.7 EPS for the current fiscal year.

Insider Activity at Vestis

In other news, Director Keith A. Meister bought 377,277 shares of the stock in a transaction that occurred on Friday, May 23rd. The shares were bought at an average price of $5.89 per share, for a total transaction of $2,222,161.53. Following the purchase, the director owned 18,380,501 shares in the company, valued at $108,261,150.89. This represents a 2.10% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Douglas A. Pertz bought 70,000 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were purchased at an average price of $6.17 per share, for a total transaction of $431,900.00. Following the purchase, the director owned 297,010 shares in the company, valued at $1,832,551.70. This represents a 30.84% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 880,675 shares of company stock worth $5,271,632. 13.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Principal Financial Group Inc. increased 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 valued at $8,462,000 after acquiring an additional 15,176 shares during the last quarter. Sanctuary Advisors LLC increased its holdings in Vestis by 19.5% in the 4th quarter. Sanctuary Advisors LLC now owns 22,609 shares of the company's stock valued at $358,000 after acquiring an additional 3,686 shares during the last quarter. Handelsbanken Fonder AB bought a new stake in Vestis in the 4th quarter valued at $520,000. Y Intercept Hong Kong Ltd increased its holdings in Vestis by 30.9% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 19,377 shares of the company's stock valued at $295,000 after acquiring an additional 4,571 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Vestis by 20.8% in the 4th quarter. Bank of New York Mellon Corp now owns 1,096,922 shares of the company's stock valued at $16,717,000 after acquiring an additional 188,661 shares during the last quarter. Hedge funds and other institutional investors own 97.40% of the company's stock.

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.