Los Angeles Capital Management LLC Makes New Investment in Vestis Corporation $VSTS

Los Angeles Capital Management LLC acquired a new stake in Vestis Corporation (NYSE:VSTS) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 11,756 shares of the company’s stock, valued at approximately $67,000.

Other large investors have also recently made changes to their positions in the company. Ascent Group LLC purchased a new stake in Vestis during the second quarter worth approximately $59,000. HB Wealth Management LLC purchased a new position in Vestis in the second quarter worth $65,000. Ethic Inc. acquired a new stake in shares of Vestis during the 2nd quarter valued at approximately $74,000. Brighton Jones LLC acquired a new position in Vestis during the second quarter worth $89,000. Finally, Corton Capital Inc. purchased a new stake in shares of Vestis in the 2nd quarter worth about $109,000. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Wall Street Zen raised Vestis from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Weiss Ratings reissued a “sell (d)” rating on shares of Vestis in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. decreased their target price on Vestis from $6.00 to $5.50 and set an “underweight” rating for the company in a report on Thursday, August 7th. Two analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Strong Sell” and an average target price of $9.13.

Vestis Stock Up 5.5%

Shares of NYSE:VSTS opened at $5.47 on Wednesday. The firm has a market cap of $720.51 million, a PE ratio of -23.76 and a beta of 0.98. The company has a fifty day simple moving average of $4.84 and a 200 day simple moving average of $5.44. The company has a current ratio of 1.84, a quick ratio of 1.42 and a debt-to-equity ratio of 1.45. Vestis Corporation has a 12-month low of $3.98 and a 12-month high of $17.83.

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.