Vestis Corporation $VSTS Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC raised its stake in Vestis Corporation (NYSE:VSTS) by 571.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,979,460 shares of the company’s stock after purchasing an additional 1,684,460 shares during the period. SG Americas Securities LLC’s holdings in Vestis were worth $15,559,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State of Wyoming boosted its holdings in shares of Vestis by 10.4% in the 4th quarter. State of Wyoming now owns 15,145 shares of the company’s stock valued at $101,000 after buying an additional 1,428 shares in the last quarter. Captrust Financial Advisors boosted its stake in Vestis by 15.6% in the second quarter. Captrust Financial Advisors now owns 20,599 shares of the company’s stock valued at $118,000 after acquiring an additional 2,787 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Vestis by 147.3% during the fourth 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 during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Vestis by 176.1% during the fourth 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 during the last quarter. Finally, Mariner LLC grew its holdings in shares of Vestis by 3.2% during the third quarter. Mariner LLC now owns 123,981 shares of the company’s stock worth $562,000 after purchasing an additional 3,798 shares during the last quarter. Institutional investors and hedge funds own 97.40% of the company’s stock.

Analysts Set New Price Targets

VSTS has been the subject of several research reports. Stifel Nicolaus boosted their target price on Vestis from $8.50 to $11.00 and gave the company a “hold” rating in a report on Wednesday, May 13th. Weiss Ratings cut shares of Vestis from a “sell (d)” rating to a “sell (d-)” rating in a research note on Wednesday, May 13th. Robert W. Baird boosted their price target 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. The Goldman Sachs Group reissued a “sell” rating and set a $7.50 price target on shares of Vestis in a report on Wednesday, May 13th. Finally, Barclays raised their price objective on shares of Vestis from $6.00 to $9.00 and gave the company an “underweight” rating in a research report on Friday, May 15th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, Vestis presently has an average rating of “Reduce” and an average price target of $9.50.

Vestis Trading Up 1.6%

NYSE:VSTS opened at $13.71 on Friday. Vestis Corporation has a 1 year low of $3.98 and a 1 year high of $14.04. 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 stock has a fifty day moving average price of $11.58 and a two-hundred day moving average price of $8.84. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of -97.92 and a beta of 1.08.

Vestis (NYSE:VSTS) last issued its earnings results on Tuesday, May 12th. The company reported $0.16 EPS for the quarter, topping the consensus estimate 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 company had revenue of $659.44 million for the quarter, compared to analyst estimates of $655.32 million. During the same period in the previous year, the firm earned ($0.05) EPS. The business’s revenue was down .9% on a year-over-year basis. As a group, sell-side analysts anticipate that Vestis Corporation will post 0.52 earnings per share for the current fiscal year.

Vestis Company 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.