Vestis Corporation $VSTS Stake Cut by Private Management Group Inc.

Private Management Group Inc. reduced its holdings in Vestis Corporation (NYSE:VSTS) by 23.8% in the 4th quarter, Holdings Channel reports. The fund owned 1,973,146 shares of the company’s stock after selling 616,480 shares during the period. Private Management Group Inc.’s holdings in Vestis were worth $13,161,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Vestis by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 9,960,651 shares of the company’s stock worth $66,438,000 after acquiring an additional 346,736 shares in the last quarter. AQR Capital Management LLC lifted its stake in Vestis by 19.8% in the 2nd quarter. AQR Capital Management LLC now owns 5,593,129 shares of the company’s stock worth $32,049,000 after acquiring an additional 923,459 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Vestis by 0.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,587,432 shares of the company’s stock worth $20,780,000 after acquiring an additional 25,675 shares in the last quarter. Scopia Capital Management LP raised its stake in shares of Vestis by 16.1% during the 2nd quarter. Scopia Capital Management LP now owns 2,896,583 shares of the company’s stock worth $16,597,000 after purchasing an additional 401,223 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Vestis by 7.8% during the 4th quarter. Geode Capital Management LLC now owns 2,713,396 shares of the company’s stock worth $18,101,000 after purchasing an additional 195,382 shares in the last quarter. 97.40% of the stock is owned by hedge funds and other institutional investors.

Vestis Stock Up 2.3%

Shares of VSTS stock opened at $13.32 on Friday. The stock’s 50 day simple moving average is $10.61 and its 200 day simple moving average is $8.37. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.69 and a current ratio of 2.13. Vestis Corporation has a twelve month low of $3.98 and a twelve month high of $13.52. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of -95.15 and a beta of 1.08.

Vestis (NYSE:VSTS) last issued its quarterly earnings data on Tuesday, May 12th. The company reported $0.16 earnings per share 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 business had revenue of $659.44 million for the quarter, compared to the consensus estimate of $655.32 million. During the same period last year, the business earned ($0.05) EPS. The firm’s revenue was down .9% compared to the same quarter last year. As a group, research analysts predict that Vestis Corporation will post 0.52 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on VSTS shares. William Blair raised Vestis from a “market perform” rating to an “outperform” rating in a research note on Tuesday, May 12th. 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. Robert W. Baird raised their price target on Vestis from $10.00 to $14.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 13th. Weiss Ratings downgraded Vestis from a “sell (d)” rating to a “sell (d-)” rating in a research note on Wednesday, May 13th. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and set a $7.50 price target on shares of Vestis 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, Vestis currently has a consensus rating of “Reduce” and an average target price of $9.50.

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.