Vestis Corporation $VSTS Shares Bought by Bleakley Financial Group LLC

Bleakley Financial Group LLC grew its position in Vestis Corporation (NYSE:VSTS) by 54.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 112,609 shares of the company’s stock after purchasing an additional 39,894 shares during the period. Bleakley Financial Group LLC’s holdings in Vestis were worth $885,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC lifted 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 valued at $35,000 after buying an additional 3,082 shares during the period. Farther Finance Advisors LLC raised its holdings in Vestis by 176.1% in the 4th 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 in the 4th quarter worth $36,000. EverSource Wealth Advisors LLC grew its stake 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 valued at $31,000 after buying an additional 4,502 shares during the period. Finally, Osaic Holdings Inc. increased 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 acquiring an additional 5,028 shares during the last quarter. 97.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

VSTS has been the topic of a number of research analyst reports. William Blair raised shares of Vestis from a “market perform” rating to an “outperform” rating in a research note on Tuesday, May 12th. Zacks Research raised Vestis from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 10th. Barclays upped their target price on shares of Vestis from $6.00 to $9.00 and gave the stock an “underweight” rating in a research note on Friday, May 15th. The Goldman Sachs Group reiterated a “sell” rating and issued a $7.50 price target on shares of Vestis in a research note on Wednesday, May 13th. Finally, Stifel Nicolaus upped their price objective on shares of Vestis from $8.50 to $11.00 and gave the company a “hold” rating in a research note on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, Vestis presently has a consensus rating of “Reduce” and a consensus price target of $9.50.

Vestis Stock Performance

Shares of NYSE VSTS opened at $16.56 on Friday. The company has a debt-to-equity ratio of 1.44, a current ratio of 2.13 and a quick ratio of 1.69. The company has a market cap of $2.19 billion, a PE ratio of -118.29 and a beta of 0.98. The company has a 50-day simple moving average of $13.22 and a 200-day simple moving average of $9.68. Vestis Corporation has a 12 month low of $3.98 and a 12 month high of $16.90.

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