Vestis Co. (NYSE:VSTS) Major Shareholder Buys $1,460,993.96 in Stock

Vestis Co. (NYSE:VSTSGet Free Report) major shareholder Corvex Management Lp bought 116,044 shares of Vestis stock in a transaction dated Monday, May 20th. The stock was acquired at an average cost of $12.59 per share, with a total value of $1,460,993.96. Following the transaction, the insider now owns 16,707,877 shares of the company’s stock, valued at approximately $210,352,171.43. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Corvex Management Lp also recently made the following trade(s):

  • On Wednesday, May 8th, Corvex Management Lp acquired 622,346 shares of Vestis stock. The stock was acquired at an average price of $10.43 per share, with a total value of $6,491,068.78.
  • On Monday, May 6th, Corvex Management Lp bought 1,828,009 shares of Vestis stock. The shares were acquired at an average price of $9.54 per share, for a total transaction of $17,439,205.86.

Vestis Stock Up 1.6 %

NYSE:VSTS opened at $12.64 on Thursday. The company has a quick ratio of 2.16, a current ratio of 2.51 and a debt-to-equity ratio of 1.69. Vestis Co. has a twelve month low of $8.92 and a twelve month high of $22.37. The stock’s 50-day simple moving average is $16.57 and its 200 day simple moving average is $18.40.

Vestis (NYSE:VSTSGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.09). The firm had revenue of $705.37 million for the quarter, compared to the consensus estimate of $722.54 million. The business’s quarterly revenue was up .9% compared to the same quarter last year. Equities analysts predict that Vestis Co. will post 0.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Robert W. Baird dropped their price target on shares of Vestis from $24.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. Stifel Nicolaus reaffirmed a “hold” rating on shares of Vestis in a report on Friday, May 3rd. Barclays reduced their target price on Vestis from $19.00 to $10.00 and set an “underweight” rating on the stock in a report on Friday, May 3rd. JPMorgan Chase & Co. cut shares of Vestis from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $22.00 to $11.00 in a research report on Friday, May 3rd. Finally, The Goldman Sachs Group decreased their target price on shares of Vestis from $20.00 to $11.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Vestis currently has an average rating of “Hold” and an average price target of $16.38.

Read Our Latest Analysis on Vestis

Institutional Trading of Vestis

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Sound Income Strategies LLC acquired a new stake in shares of Vestis during the 4th quarter valued at $25,000. Parkside Financial Bank & Trust bought a new position in Vestis in the fourth quarter valued at about $25,000. CI Investments Inc. acquired a new stake in shares of Vestis during the third quarter valued at about $28,000. Daiwa Securities Group Inc. bought a new stake in shares of Vestis during the fourth quarter worth about $34,000. Finally, TFO Wealth Partners LLC acquired a new position in shares of Vestis in the fourth quarter valued at approximately $42,000. Institutional investors own 97.40% of the company’s stock.

Vestis Company Profile

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Vestis (NYSE:VSTS)

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