State of Wyoming raised its stake in Vestis Corporation (NYSE:VSTS – Free Report) by 477.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 46,201 shares of the company’s stock after acquiring an additional 38,197 shares during the period. State of Wyoming’s holdings in Vestis were worth $617,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp acquired a new stake in Vestis during the second quarter worth approximately $9,368,000. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Vestis by 69.1% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,072,081 shares of the company’s stock valued at $8,427,000 after buying an additional 437,965 shares in the last quarter. RBF Capital LLC boosted its holdings in shares of Vestis by 2.0% in the 1st quarter. RBF Capital LLC now owns 878,251 shares of the company’s stock valued at $6,903,000 after buying an additional 17,009 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Vestis by 1.9% in the 1st quarter. Principal Financial Group Inc. now owns 544,214 shares of the company’s stock valued at $4,278,000 after buying an additional 9,901 shares during the last quarter. Finally, Empowered Funds LLC grew its position in shares of Vestis by 8.5% in the 1st quarter. Empowered Funds LLC now owns 502,782 shares of the company’s stock valued at $3,952,000 after buying an additional 39,433 shares during the last quarter. 97.40% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Vestis
In other Vestis news, CEO James Barber acquired 84,500 shares of the stock in a transaction on Wednesday, September 2nd. The shares were bought at an average cost of $12.37 per share, with a total value of $1,045,265.00. Following the transaction, the chief executive officer owned 867,222 shares of the company’s stock, valued at approximately $10,727,536.14. This trade represents a 10.80% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 15.70% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts recently commented on the stock. Robert W. Baird lifted their price target on shares of Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 12th. Zacks Research lowered Vestis from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. JPMorgan Chase & Co. lifted their target price on Vestis from $11.00 to $13.00 and gave the stock an “underweight” rating in a research report on Thursday, August 13th. The Goldman Sachs Group lifted their target price on Vestis from $8.20 to $9.30 and gave the stock a “sell” rating in a research report on Tuesday, August 11th. Finally, Stifel Nicolaus upped their target price on Vestis from $11.00 to $14.00 and gave the company a “hold” rating in a research report on Wednesday, August 12th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $12.66.
Check Out Our Latest Stock Analysis on VSTS
Vestis Stock Performance
Shares of VSTS opened at $14.79 on Monday. The company has a current ratio of 2.17, a quick ratio of 1.75 and a debt-to-equity ratio of 1.38. The firm has a market cap of $1.95 billion, a PE ratio of -295.74 and a beta of 0.82. The company’s 50 day simple moving average is $13.73 and its 200-day simple moving average is $11.41. Vestis Corporation has a 12-month low of $4.83 and a 12-month high of $16.90.
Vestis (NYSE:VSTS – Get Free Report) last announced its earnings results on Tuesday, August 11th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.08. Vestis had a negative net margin of 0.20% and a positive return on equity of 7.27%. The business had revenue of $661.66 million for the quarter, compared to analysts’ expectations of $668.94 million. As a group, equities analysts predict that Vestis Corporation will post 0.62 EPS for the current year.
Vestis Profile
Vestis Corporation (NYSE: VSTS) provides workplace apparel and facility services to businesses and organizations across the United States and Canada. Its offerings are designed to help customers manage employee uniforms and maintain clean, safe, and professional work environments.
The company supplies and services uniforms, workwear, and protective apparel, along with related products such as linens, towels, floor mats, restroom supplies, first-aid products, and other workplace essentials.
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