BlackRock Fund Advisors recently announced the acquisition of new stake in Vestis Corp (NYSE:VSTS). This fresh investment now brings its stake to 7.90% valued currently at $189.16 million. In addition, Geode Capital Management LLC raised its holdings by 1.92 million to 1.92 million shares.
With over 24.76 million Vestis Corp (VSTS) shares trading Friday and a closing price of $19.37 on the day, the dollar volume was approximately $479.69 million. Currently, there are 131.00M common shares owned by the public and among those 130.13M shares have been available to trade.
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Insiders at the company have transacted a total of 33 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 32 of these insider trades were purchases, accounting for 320,820 shares. Insider sales of the common stock occurred on 1 occasions, with total insider shares sold totaling 12,093 shares.
The top 3 mutual fund holders in Vestis Corp are Eaton Vance Atlanta Capital SMID, Vanguard Total Stock Market ETF, and iShares Core S&P Mid Cap ETF. Eaton Vance Atlanta Capital SMID owns 4.49 million shares of the company’s stock, all valued at over $82.13 million. The company bought an additional 4.49 million shares recently to bring their total holdings to about 3.43% of the shares outstanding. iShares Core S&P Mid Cap ETF bought 714.0 shares to bring its total holdings to over 4.03 million shares at a value of $73.72 million. iShares Core S&P Mid Cap ETF now owns shares totaling to 3.08% of the shares outstanding.
Shares of Vestis Corp (NYSE: VSTS) opened at $19.60, up $0.51 from a prior closing price of $19.09. However, the script later moved the day high at 19.86, up 1.47%. It has a 12-month low price of $13.83 and touched a high of $20.25 over the same period. VSTS has an average intraday trading volume of 2.05 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 8.59%, 17.23%, and 16.13% respectively.
Institutional ownership of Vestis Corp (NYSE: VSTS) shares accounts for 12.58% of the company’s 131.00M shares outstanding. Mutual fund holders own 0.46%, while other institutional holders and individual stakeholders account for 28.72% and -16.09% respectively.
It has a market capitalization of $2.53B. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.21% over the week and 3.01% over the month.
Analysts forecast that Vestis Corp (VSTS) will achieve an EPS of $0.32 for the current quarter, $0.22 for the next quarter and $1.06 for 2024. The lowest estimate earnings-per-share for the quarter is $0.21 while analysts give the company a high EPS estimate of $0.53. Earnings per share for the fiscal year are expected to decrease by -37.33%, and 27.28% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate Vestis Corp (VSTS) as a “Strong Buy” at a consensus score of 1.43. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 1 of the 7 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the VSTS, a number of firms have released research notes about the stock. Wells Fargo stated their Overweight rating for the stock in a research note on December 15, 2023, with the firm’s price target at $24.
