FourThought Financial Partners LLC Invests $528,000 in Vestis Corporation $VSTS

FourThought Financial Partners LLC purchased a new position in shares of Vestis Corporation (NYSE:VSTS) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 79,227 shares of the company’s stock, valued at approximately $528,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Nisa Investment Advisors LLC boosted its holdings in Vestis by 147.3% in 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 holdings in Vestis by 176.1% in 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. EverSource Wealth Advisors LLC boosted its holdings in Vestis by 471.9% in 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. Osaic Holdings Inc. boosted its holdings in Vestis by 703.2% in 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. Finally, PNC Financial Services Group Inc. boosted its holdings in Vestis by 147.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,006 shares of the company’s stock valued at $53,000 after acquiring an additional 4,766 shares during the last quarter. 97.40% of the stock is currently owned by institutional investors.

Vestis Price Performance

Shares of VSTS opened at $11.64 on Friday. Vestis Corporation has a 52-week low of $3.98 and a 52-week high of $12.60. 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 business’s 50 day moving average price is $9.09 and its two-hundred day moving average price is $7.60. The firm has a market cap of $1.54 billion, a PE ratio of -83.10 and a beta of 0.85.

Vestis (NYSE:VSTS) last issued its earnings results on Tuesday, May 12th. The company reported $0.16 earnings per share for the quarter, topping 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 company had revenue of $659.44 million for the quarter, compared to analyst estimates of $655.32 million. During the same period in the prior year, the firm earned ($0.05) earnings per share. Vestis’s revenue for the quarter was down .9% on a year-over-year basis. On average, equities analysts anticipate that Vestis Corporation will post 0.5 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. William Blair upgraded Vestis from a “market perform” rating to an “outperform” rating in a report on Tuesday, May 12th. Robert W. Baird upped their target price on Vestis from $10.00 to $14.00 and gave the company a “neutral” rating in a report on Wednesday, May 13th. Barclays upped their target price on Vestis from $6.00 to $9.00 and gave the company an “underweight” rating in a report on Friday, May 15th. Weiss Ratings cut Vestis from a “sell (d)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. Finally, Stifel Nicolaus upped 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. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce” and an average target price of $9.50.

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.