Bfsg LLC Increases Stock Holdings in Vestis Corporation $VSTS

Bfsg LLC grew its position in Vestis Corporation (NYSE:VSTS) by 44.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,510 shares of the company’s stock after buying an additional 6,300 shares during the quarter. Bfsg LLC’s holdings in Vestis were worth $118,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Spire Wealth Management increased its position in Vestis by 168.2% during the 1st quarter. Spire Wealth Management now owns 5,110 shares of the company’s stock worth $51,000 after purchasing an additional 3,205 shares in the last quarter. Copeland Capital Management LLC increased its position in Vestis by 33.0% during the 1st quarter. Copeland Capital Management LLC now owns 5,428 shares of the company’s stock worth $54,000 after purchasing an additional 1,346 shares in the last quarter. KBC Group NV increased its position in Vestis by 54.2% during the 1st quarter. KBC Group NV now owns 7,309 shares of the company’s stock worth $72,000 after purchasing an additional 2,568 shares in the last quarter. Toronto Dominion Bank purchased a new stake in Vestis during the 4th quarter worth about $154,000. Finally, Hsbc Holdings PLC purchased a new stake in Vestis during the 1st quarter worth about $137,000. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Vestis Stock Up 0.1%

VSTS opened at $4.09 on Wednesday. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.84 and a quick ratio of 1.42. The stock has a market capitalization of $538.57 million, a price-to-earnings ratio of -17.76 and a beta of 0.98. The business has a 50-day moving average of $5.01 and a two-hundred day moving average of $6.64. Vestis Corporation has a 12 month low of $3.98 and a 12 month high of $17.83.

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

Analysts Set New Price Targets

A number of analysts recently commented on the company. JPMorgan Chase & Co. dropped their price objective on Vestis from $6.00 to $5.50 and set an “underweight” rating for the company in a research report on Thursday, August 7th. Wall Street Zen upgraded Vestis from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Two research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $9.13.

About Vestis

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.