Vestis Corporation $VSTS Shares Bought by Allianz Asset Management GmbH

Allianz Asset Management GmbH raised its position in Vestis Corporation (NYSE:VSTS) by 6.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 571,383 shares of the company’s stock after acquiring an additional 35,353 shares during the period. Allianz Asset Management GmbH owned approximately 0.43% of Vestis worth $3,274,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Alberta Investment Management Corp increased its holdings in shares of Vestis by 65.2% in the 1st quarter. Alberta Investment Management Corp now owns 6,145,000 shares of the company’s stock valued at $60,836,000 after purchasing an additional 2,426,167 shares in the last quarter. Royce & Associates LP increased its holdings in shares of Vestis by 196.2% in the 1st quarter. Royce & Associates LP now owns 2,842,936 shares of the company’s stock valued at $28,145,000 after purchasing an additional 1,883,106 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of Vestis by 700.5% in the 1st quarter. Jane Street Group LLC now owns 1,982,027 shares of the company’s stock valued at $19,622,000 after purchasing an additional 1,734,442 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Vestis by 49.4% in the 1st quarter. AQR Capital Management LLC now owns 4,669,670 shares of the company’s stock valued at $45,950,000 after purchasing an additional 1,544,001 shares in the last quarter. Finally, Stanley Capital Management LLC increased its holdings in shares of Vestis by 163.6% in the 1st quarter. Stanley Capital Management LLC now owns 2,191,107 shares of the company’s stock valued at $21,692,000 after purchasing an additional 1,359,807 shares in the last quarter. Institutional investors and hedge funds own 97.40% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on VSTS shares. JPMorgan Chase & Co. cut their price target on shares of Vestis from $6.00 to $5.50 and set an “underweight” rating for the company in a report on Thursday, August 7th. Weiss Ratings reiterated a “sell (d)” rating on shares of Vestis in a report on Friday. Finally, Wall Street Zen upgraded shares of Vestis from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Two research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Vestis currently has an average rating of “Strong Sell” and an average target price of $9.13.

Vestis Stock Performance

NYSE:VSTS opened at $5.26 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.42 and a debt-to-equity ratio of 1.45. The firm has a 50-day moving average price of $4.61 and a two-hundred day moving average price of $5.84. Vestis Corporation has a twelve month low of $3.98 and a twelve month high of $17.83. The company has a market capitalization of $692.82 million, a P/E ratio of -22.85 and a beta of 0.97.

Vestis (NYSE:VSTS) last posted its earnings results on Tuesday, August 5th. The company reported $0.05 earnings per share for the quarter, meeting the consensus estimate of $0.05. Vestis had a negative net margin of 1.11% and a positive return on equity of 3.76%. The firm had revenue of $673.80 million during the quarter, compared to the consensus estimate of $673.65 million. During the same period last year, the firm posted $0.16 EPS. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. As a group, research analysts expect that Vestis Corporation will post 0.7 earnings per share for the current fiscal 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.