Vestis Corporation $VSTS Shares Sold by Private Management Group Inc.

Private Management Group Inc. cut its stake in Vestis Corporation (NYSE:VSTS) by 23.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,973,146 shares of the company’s stock after selling 616,480 shares during the period. Private Management Group Inc. owned 1.50% of Vestis worth $13,161,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. State of Wyoming boosted its stake in Vestis by 10.4% during the fourth quarter. State of Wyoming now owns 15,145 shares of the company’s stock valued at $101,000 after buying an additional 1,428 shares in the last quarter. Captrust Financial Advisors boosted its stake in Vestis by 15.6% during the second quarter. Captrust Financial Advisors now owns 20,599 shares of the company’s stock valued at $118,000 after buying an additional 2,787 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Vestis by 147.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,175 shares of the company’s stock valued at $35,000 after buying an additional 3,082 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Vestis by 176.1% during the fourth quarter. Farther Finance Advisors LLC now owns 5,193 shares of the company’s stock valued at $35,000 after buying an additional 3,312 shares in the last quarter. Finally, Mariner LLC boosted its stake in Vestis by 3.2% during the third quarter. Mariner LLC now owns 123,981 shares of the company’s stock valued at $562,000 after buying an additional 3,798 shares in the last quarter. 97.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on VSTS shares. Robert W. Baird raised their target price on Vestis from $10.00 to $14.00 and gave the company a “neutral” rating in a research note on Wednesday, May 13th. Weiss Ratings cut Vestis from a “sell (d)” rating to a “sell (d-)” rating in a research note on Wednesday, May 13th. Stifel Nicolaus increased their price target on Vestis from $8.50 to $11.00 and gave the company a “hold” rating in a research report on Wednesday, May 13th. Barclays increased their price target on Vestis from $6.00 to $9.00 and gave the company an “underweight” rating in a research report on Friday, May 15th. Finally, William Blair upgraded Vestis from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 12th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $9.50.

Vestis Trading Up 2.3%

NYSE:VSTS opened at $13.32 on Friday. The company has a quick ratio of 1.69, a current ratio of 2.13 and a debt-to-equity ratio of 1.44. Vestis Corporation has a 1-year low of $3.98 and a 1-year high of $13.52. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of -95.15 and a beta of 1.08. The stock has a fifty day simple moving average of $10.61 and a 200 day simple moving average of $8.37.

Vestis (NYSE:VSTS) last announced its quarterly earnings data on Tuesday, May 12th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.07. The firm had revenue of $659.44 million during the quarter, compared to the consensus estimate of $655.32 million. Vestis had a positive return on equity of 5.27% and a negative net margin of 0.63%.The business’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the prior year, the business earned ($0.05) EPS. Sell-side analysts forecast that Vestis Corporation will post 0.52 earnings per share for the current year.

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.