Vestis Corporation $VSTS Stock Purchased by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. increased its holdings in shares of Vestis Corporation (NYSE:VSTS) by 46.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,731,475 shares of the company’s stock after purchasing an additional 550,000 shares during the period. Jefferies Financial Group Inc. owned 1.31% of Vestis worth $23,133,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in VSTS. Axon Capital LP purchased a new stake in shares of Vestis in the third quarter worth about $2,432,000. Weiss Asset Management LP purchased a new stake in shares of Vestis during the 1st quarter valued at about $584,000. Bank of New York Mellon Corp purchased a new stake in shares of Vestis during the 2nd quarter valued at about $9,368,000. Militia Capital Management LLC purchased a new stake in shares of Vestis during the 1st quarter valued at about $618,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in Vestis by 69.1% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,072,081 shares of the company’s stock worth $8,427,000 after acquiring an additional 437,965 shares in the last quarter. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Vestis Price Performance

Shares of VSTS opened at $14.36 on Thursday. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of 30.57 and a beta of 0.83. The stock has a 50 day moving average of $14.02 and a 200-day moving average of $11.72. The company has a current ratio of 2.17, a quick ratio of 1.75 and a debt-to-equity ratio of 1.38. Vestis Corporation has a 52 week low of $5.00 and a 52 week high of $16.90.

Vestis (NYSE:VSTS) last posted its quarterly earnings results on Tuesday, August 11th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.08. Vestis had a positive return on equity of 7.27% and a negative net margin of 0.20%. The business had revenue of $661.66 million for the quarter, compared to analyst estimates of $668.94 million. As a group, analysts forecast that Vestis Corporation will post 0.62 EPS for the current year.

Insider Activity

In other Vestis news, CEO James Barber purchased 84,500 shares of Vestis stock in a transaction dated Wednesday, September 2nd. The shares were bought at an average cost of $12.37 per share, for a total transaction of $1,045,265.00. Following the transaction, the chief executive officer owned 867,222 shares in the company, valued at $10,727,536.14. This represents a 10.80% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 15.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on VSTS shares. Zacks Research cut Vestis from a “strong-buy” rating to a “hold” rating in a report on Monday, August 10th. Robert W. Baird increased their price objective on shares of Vestis from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Wednesday, August 12th. Stifel Nicolaus lifted their price objective on shares of Vestis from $11.00 to $14.00 and gave the company a “hold” rating in a research note on Wednesday, August 12th. The Goldman Sachs Group boosted their target price on shares of Vestis from $8.20 to $9.30 and gave the stock a “sell” rating in a research report on Tuesday, August 11th. Finally, Barclays boosted their target price on shares of Vestis from $9.00 to $11.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 12th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, Vestis currently has a consensus rating of “Reduce” and a consensus price target of $12.66.

Vestis Company Profile

Vestis Corporation provides uniform rental and workplace supplies services to businesses and other organizations. Its offerings include workwear, uniforms, floor mats, towels, linens, restroom supplies, and first-aid and safety products. The company also manages services such as delivery, laundering, and replacement of reusable items, helping customers maintain their workwear and workplace supplies. Vestis serves customers in the United States and Canada. It became an independent, publicly traded company in 2023 after separating from Aramark, where its business had operated as the Uniform Services division.