Vestis Corporation $VSTS Shares Acquired by Invenomic Capital Management LP

Invenomic Capital Management LP lifted its stake in shares of Vestis Corporation (NYSE:VSTS) by 35.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,731,536 shares of the company’s stock after acquiring an additional 449,497 shares during the period. Invenomic Capital Management LP owned 1.31% of Vestis worth $11,549,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Nisa Investment Advisors LLC boosted its stake 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 valued at $35,000 after acquiring an additional 3,082 shares during the last quarter. Farther Finance Advisors LLC boosted its stake 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 valued at $35,000 after acquiring an additional 3,312 shares during the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Vestis during the fourth quarter valued at $36,000. EverSource Wealth Advisors LLC boosted its stake in shares of Vestis by 471.9% during the second quarter. EverSource Wealth Advisors LLC now owns 5,456 shares of the company’s stock valued at $31,000 after acquiring an additional 4,502 shares during the last quarter. Finally, Osaic Holdings Inc. boosted its stake in shares of Vestis by 703.2% during the second quarter. Osaic Holdings Inc. now owns 5,743 shares of the company’s stock valued at $33,000 after acquiring an additional 5,028 shares during the last quarter. Institutional investors and hedge funds own 97.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on VSTS shares. Barclays raised their price target on Vestis from $6.00 to $9.00 and gave the stock an “underweight” rating in a research note on Friday, May 15th. William Blair raised Vestis from a “market perform” rating to an “outperform” rating in a research note on Tuesday, May 12th. The Goldman Sachs Group reissued a “sell” rating and issued a $7.50 price target on shares of Vestis in a research note on Wednesday, May 13th. Stifel Nicolaus raised their price target on Vestis from $8.50 to $11.00 and gave the stock a “hold” rating in a research note on Wednesday, May 13th. Finally, Weiss Ratings lowered Vestis from a “sell (d)” rating to a “sell (d-)” rating in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $9.50.

Vestis Stock Down 2.9%

Shares of NYSE:VSTS opened at $12.79 on Thursday. The stock’s 50-day moving average price is $11.03 and its two-hundred day moving average price is $8.55. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of -91.36 and a beta of 1.08. The company has a current ratio of 2.13, a quick ratio of 1.69 and a debt-to-equity ratio of 1.44. Vestis Corporation has a 12-month low of $3.98 and a 12-month high of $13.52.

Vestis (NYSE:VSTS) last released its quarterly earnings data on Tuesday, May 12th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.07. The company had revenue of $659.44 million for the quarter, compared to the consensus estimate of $655.32 million. Vestis had a positive return on equity of 5.27% and a negative net margin of 0.63%.The company’s quarterly revenue was down .9% compared to the same quarter last year. During the same period last year, the business posted ($0.05) EPS. On average, research analysts forecast that Vestis Corporation will post 0.52 EPS for the current year.

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.