QSM Asset Management Ltd Purchases 76,036 Shares of Vestis Corporation $VSTS

QSM Asset Management Ltd lifted its position in shares of Vestis Corporation (NYSE:VSTS) by 25.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 380,072 shares of the company’s stock after purchasing an additional 76,036 shares during the quarter. Vestis accounts for approximately 1.5% of QSM Asset Management Ltd’s investment portfolio, making the stock its 21st largest holding. QSM Asset Management Ltd’s holdings in Vestis were worth $2,535,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of VSTS. EverSource Wealth Advisors LLC raised its stake in shares of Vestis by 471.9% in the second quarter. EverSource Wealth Advisors LLC now owns 5,456 shares of the company’s stock valued at $31,000 after purchasing an additional 4,502 shares in the last quarter. Osaic Holdings Inc. boosted its stake in Vestis by 703.2% during the second quarter. Osaic Holdings Inc. now owns 5,743 shares of the company’s stock worth $33,000 after buying an additional 5,028 shares in the last quarter. Simplicity Wealth LLC bought a new stake in Vestis in the 3rd quarter valued at $46,000. Sanders Morris Harris LLC bought a new stake in Vestis in the 3rd quarter valued at $47,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of Vestis by 331.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 9,427 shares of the company’s stock valued at $54,000 after buying an additional 7,242 shares in the last quarter. 97.40% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

VSTS has been the subject of a number of analyst reports. The Goldman Sachs Group raised their price objective on shares of Vestis from $5.30 to $6.00 and gave the stock a “sell” rating in a report on Wednesday, February 11th. JPMorgan Chase & Co. upped their target price on shares of Vestis from $5.50 to $6.00 and gave the company an “underweight” rating in a research note on Wednesday, December 3rd. Weiss Ratings reissued a “sell (d)” rating on shares of Vestis in a research report on Wednesday, January 21st. Robert W. Baird raised their price target 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, Barclays reaffirmed an “underweight” rating on shares of Vestis in a report on Tuesday, February 17th. One research analyst has rated the stock with a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Strong Sell” and a consensus price target of $5.88.

Vestis Trading Up 1.3%

VSTS stock opened at $7.81 on Tuesday. The business has a fifty day moving average price of $7.46 and a 200 day moving average price of $6.34. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.17 and a quick ratio of 1.74. Vestis Corporation has a fifty-two week low of $3.98 and a fifty-two week high of $10.05. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of -21.12 and a beta of 0.48.

Vestis (NYSE:VSTS) last posted its quarterly earnings data on Tuesday, February 10th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.04. The company had revenue of $663.39 million for the quarter, compared to analyst estimates of $665.77 million. Vestis had a positive return on equity of 2.08% and a negative net margin of 1.75%.The business’s revenue was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.14 earnings per share. Analysts expect that Vestis Corporation will post 0.7 EPS for the current fiscal 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.