Louisiana State Employees Retirement System bought a new position in Vestis Corporation (NYSE:VSTS – Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 49,700 shares of the company’s stock, valued at approximately $391,000.
A number of other institutional investors have also recently modified their holdings of the stock. State of Wyoming increased its holdings in shares of Vestis by 10.4% during the fourth quarter. State of Wyoming now owns 15,145 shares of the company’s stock valued at $101,000 after acquiring an additional 1,428 shares in the last quarter. Captrust Financial Advisors raised its position in shares of Vestis by 15.6% in the 2nd quarter. Captrust Financial Advisors now owns 20,599 shares of the company’s stock worth $118,000 after purchasing an additional 2,787 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Vestis by 147.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,175 shares of the company’s stock worth $35,000 after purchasing an additional 3,082 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Vestis by 176.1% in the 4th quarter. Farther Finance Advisors LLC now owns 5,193 shares of the company’s stock worth $35,000 after purchasing an additional 3,312 shares in the last quarter. Finally, Mariner LLC grew its position in Vestis by 3.2% during the 3rd quarter. Mariner LLC now owns 123,981 shares of the company’s stock valued at $562,000 after purchasing an additional 3,798 shares during the last quarter. 97.40% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of analysts have weighed in on the stock. William Blair upgraded shares of Vestis from a “market perform” rating to an “outperform” rating in a research note on Tuesday, May 12th. Robert W. Baird upped their target price on shares of Vestis from $10.00 to $14.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 13th. Barclays increased their price target on shares of Vestis from $6.00 to $9.00 and gave the company an “underweight” rating in a report on Friday, May 15th. The Goldman Sachs Group restated a “sell” rating and issued a $7.50 price objective on shares of Vestis in a report on Wednesday, May 13th. Finally, Weiss Ratings cut Vestis from a “sell (d)” rating to a “sell (d-)” rating in a research report on Wednesday, May 13th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $9.50.
Vestis Price Performance
NYSE VSTS opened at $14.12 on Thursday. Vestis Corporation has a one year low of $3.98 and a one year high of $15.06. The stock has a 50-day moving average of $12.40 and a 200 day moving average of $9.29. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.69 and a current ratio of 2.13. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of -100.82 and a beta of 0.98.
Vestis (NYSE:VSTS – Get Free Report) last posted its earnings results on Tuesday, May 12th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.07. The business had revenue of $659.44 million for the quarter, compared to analysts’ expectations of $655.32 million. Vestis had a negative net margin of 0.63% and a positive return on equity of 5.27%. The business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.05) EPS. On average, sell-side analysts forecast that Vestis Corporation will post 0.52 EPS for the current year.
About Vestis
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.
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