Vestis Corporation (NYSE:VSTS) Sees Significant Decline in Short Interest
by Teresa Graham · The Cerbat GemVestis Corporation (NYSE:VSTS – Get Free Report) was the target of a large drop in short interest in the month of December. As of December 15th, there was short interest totaling 13,026,026 shares, a drop of 17.3% from the November 30th total of 15,754,430 shares. Approximately 11.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 3,804,472 shares, the days-to-cover ratio is currently 3.4 days. Based on an average daily trading volume, of 3,804,472 shares, the days-to-cover ratio is currently 3.4 days. Approximately 11.4% of the shares of the stock are short sold.
Insider Buying and Selling
In other Vestis news, CEO James J. Barber acquired 82,367 shares of Vestis stock in a transaction on Thursday, December 4th. The shares were purchased at an average cost of $6.36 per share, with a total value of $523,854.12. Following the completion of the purchase, the chief executive officer owned 642,469 shares in the company, valued at $4,086,102.84. The trade was a 14.71% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William Goetz acquired 6,746 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The shares were bought at an average cost of $7.42 per share, with a total value of $50,055.32. Following the completion of the purchase, the director owned 29,877 shares of the company’s stock, valued at $221,687.34. This trade represents a 29.16% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired 1,205,810 shares of company stock worth $8,138,302 in the last quarter. Corporate insiders own 13.60% of the company’s stock.
Institutional Trading of Vestis
Several hedge funds have recently modified their holdings of VSTS. Alberta Investment Management Corp raised its position in Vestis by 57.7% in the 2nd quarter. Alberta Investment Management Corp now owns 9,692,000 shares of the company’s stock valued at $55,535,000 after buying an additional 3,547,000 shares during the last quarter. AQR Capital Management LLC increased its stake in Vestis by 19.8% in the 2nd quarter. AQR Capital Management LLC now owns 5,593,129 shares of the company’s stock valued at $32,049,000 after buying an additional 923,459 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Vestis by 0.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,587,432 shares of the company’s stock valued at $20,780,000 after buying an additional 25,675 shares during the last quarter. Vision One Management Partners LP lifted its position in shares of Vestis by 8.5% during the 2nd quarter. Vision One Management Partners LP now owns 3,590,017 shares of the company’s stock worth $20,571,000 after buying an additional 281,000 shares in the last quarter. Finally, Scopia Capital Management LP boosted its stake in shares of Vestis by 16.1% in the 2nd quarter. Scopia Capital Management LP now owns 2,896,583 shares of the company’s stock worth $16,597,000 after buying an additional 401,223 shares during the last quarter. Institutional investors own 97.40% of the company’s stock.
Vestis Price Performance
Shares of NYSE VSTS traded down $0.06 during mid-day trading on Thursday, hitting $6.71. 2,844,247 shares of the stock traded hands, compared to its average volume of 3,068,029. The company has a debt-to-equity ratio of 1.49, a current ratio of 2.08 and a quick ratio of 1.64. Vestis has a twelve month low of $3.98 and a twelve month high of $16.68. The company has a market cap of $884.85 million, a PE ratio of -21.64 and a beta of 0.78. The firm has a 50 day simple moving average of $6.16 and a two-hundred day simple moving average of $5.53.
Vestis (NYSE:VSTS – Get Free Report) last posted its earnings results on Monday, December 1st. The company reported $0.03 EPS for the quarter, hitting the consensus estimate of $0.03. The business had revenue of $712.01 million for the quarter, compared to the consensus estimate of $690.65 million. Vestis had a negative net margin of 1.47% and a positive return on equity of 2.62%. The firm’s revenue was up 4.1% compared to the same quarter last year. During the same period last year, the company earned $0.11 EPS. As a group, equities research analysts forecast that Vestis will post 0.7 EPS for the current fiscal year.
Analyst Ratings Changes
Several equities analysts have weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Vestis from $5.50 to $6.00 and gave the company an “underweight” rating in a report on Wednesday, December 3rd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Vestis in a research note on Wednesday, October 8th. Robert W. Baird increased their price objective on shares of Vestis from $5.00 to $6.50 and gave the stock a “neutral” rating in a research note on Tuesday, December 2nd. Finally, The Goldman Sachs Group upped their price target on shares of Vestis from $5.50 to $6.30 and gave the stock a “neutral” rating in a report on Tuesday, December 2nd. Two research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Vestis presently has a consensus rating of “Strong Sell” and an average target price of $5.95.
View Our Latest Stock Analysis on VSTS
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. The company serves manufacturing, hospitality, retail, food processing, food service, pharmaceuticals, healthcare, automotive, and cleanroom industries.