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A Guide To The Risks Of Investing In Vestis Corp (VSTS)

Vestis Corp’s filing revealed that its EVP, CLO and General Counsel DONOVAN TIMOTHY R acquired Company’s shares for reported $0.15 million on May 10 ’24. In the deal valued at $11.57 per share,12,975 shares were bought. As a result of this transaction, DONOVAN TIMOTHY R now holds 48,875 shares worth roughly $0.56 million.

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Then, Jokinen Tracy C bought 8,395 shares, generating $98,110 in total proceeds. Upon buying the shares at $11.69, the Director now owns 29,161 shares.

Before that, Corvex Management LP bought 622,346 shares. Vestis Corp shares valued at $6,491,069 were divested by the 10% Owner at a price of $10.43 per share. As a result of the transaction, Corvex Management LP now holds 16,591,833 shares, worth roughly $190.64 million.

Redburn Atlantic downgraded its Vestis Corp [VSTS] rating to a Neutral from a a Buy in a research note published recently. A number of analysts have revised their coverage, including Stifel’s analysts, who decreased its forecast for the stock in early May from “a Buy” to “a Hold”. JP Morgan also remained covering VSTS and has decreased its forecast on May 03, 2024 with a “Neutral” recommendation from previously “an Overweight” rating. Barclays revised its rating on February 28, 2024. It rated VSTS as “an Underweight” which previously was an “an Equal weight”.

Price Performance Review of VSTS

On Friday, Vestis Corp [NYSE:VSTS] saw its stock fall -0.78% to $11.49. Over the last five days, the stock has gained 22.10%. Vestis Corp shares have fallen nearly -45.65% since the year began. A total of 3.35 million shares were traded, compared to the trading of 4.09 million shares in the previous session.

Levels Of Support And Resistance For VSTS Stock

The 24-hour chart illustrates a support level at 11.30, which if violated will result in even more drops to 11.12. On the upside, there is a resistance level at 11.85. A further resistance level may holdings at 12.22. The Relative Strength Index (RSI) on the 14-day chart is 27.40, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -3.39, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 74.78%. Stochastics %K at 22.47% indicates the stock is a holding.

The most recent change occurred on January 25, 2024 when Goldman began covering the stock and recommended ‘”a Neutral”‘ rating along with a $22 price target.

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