Vestis Corporation $VSTS Stock Holdings Increased by Vanguard Group Inc.

Vanguard Group Inc. increased its holdings in Vestis Corporation (NYSE:VSTS) by 3.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,960,651 shares of the company’s stock after purchasing an additional 346,736 shares during the quarter. Vanguard Group Inc. owned 7.55% of Vestis worth $66,438,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nisa Investment Advisors LLC raised its holdings in shares of 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 raised its holdings in shares of 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. EverSource Wealth Advisors LLC raised its holdings in shares of Vestis by 471.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,456 shares of the company’s stock worth $31,000 after purchasing an additional 4,502 shares in the last quarter. Osaic Holdings Inc. raised its holdings in shares of Vestis by 703.2% in the 2nd quarter. Osaic Holdings Inc. now owns 5,743 shares of the company’s stock worth $33,000 after purchasing an additional 5,028 shares in the last quarter. Finally, Simplicity Wealth LLC bought a new stake in shares of Vestis in the 3rd quarter worth approximately $46,000. 97.40% of the stock is currently owned by institutional investors.

Vestis Stock Performance

Shares of VSTS opened at $12.10 on Friday. The company’s 50 day moving average price is $8.69 and its 200 day moving average price is $7.36. Vestis Corporation has a 52 week low of $3.98 and a 52 week high of $12.60. The company has a market capitalization of $1.60 billion, a PE ratio of -86.45 and a beta of 0.85. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.74 and a current ratio of 2.13.

Vestis (NYSE:VSTS) last announced its quarterly earnings data on Tuesday, May 12th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.07. Vestis had a negative net margin of 0.63% and a positive return on equity of 5.27%. The firm had revenue of $659.44 million for the quarter, compared to the consensus estimate of $655.32 million. During the same period in the previous year, the firm posted ($0.05) earnings per share. The firm’s revenue was down .9% on a year-over-year basis. Research analysts expect that Vestis Corporation will post 0.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on VSTS shares. Stifel Nicolaus boosted their target price on shares of Vestis from $8.50 to $11.00 and gave the stock a “hold” rating in a report on Wednesday. Weiss Ratings downgraded shares of Vestis from a “sell (d)” rating to a “sell (d-)” rating in a report on Wednesday. Robert W. Baird lifted their target price on shares of Vestis from $10.00 to $14.00 and gave the stock a “neutral” rating in a research report on Wednesday. Barclays reissued an “underweight” rating on shares of Vestis in a research report on Tuesday, February 17th. Finally, William Blair raised shares of Vestis from a “market perform” rating to an “outperform” rating in a research report on Tuesday. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $9.63.

Vestis Profile

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.