Counterpoint Mutual Funds LLC Increases Stock Holdings in Vestis Corporation $VSTS

Counterpoint Mutual Funds LLC increased its stake in Vestis Corporation (NYSE:VSTS) by 481.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 720,944 shares of the company’s stock after acquiring an additional 597,056 shares during the quarter. Vestis comprises approximately 0.3% of Counterpoint Mutual Funds LLC’s investment portfolio, making the stock its 11th biggest position. Counterpoint Mutual Funds LLC’s holdings in Vestis were worth $3,266,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in VSTS. EverSource Wealth Advisors LLC grew its position in shares of 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 purchasing an additional 4,502 shares during the period. Osaic Holdings Inc. raised its position in shares of Vestis by 703.2% during the 2nd quarter. Osaic Holdings Inc. now owns 5,743 shares of the company’s stock worth $33,000 after purchasing an additional 5,028 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Vestis by 331.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 9,427 shares of the company’s stock valued at $54,000 after buying an additional 7,242 shares in the last quarter. AREX Capital Management LP acquired a new stake in Vestis in the 2nd quarter worth about $57,000. Finally, Simplicity Wealth LLC purchased a new stake in Vestis during the 3rd quarter worth approximately $46,000. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director William Goetz purchased 6,746 shares of Vestis stock in a transaction dated Monday, December 8th. The shares were purchased at an average price of $7.42 per share, with a total value of $50,055.32. Following the transaction, the director owned 29,877 shares in the company, valued at $221,687.34. This represents a 29.16% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James J. Barber acquired 82,367 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The stock was acquired at an average price of $6.36 per share, for a total transaction of $523,854.12. Following the completion of the acquisition, the chief executive officer directly owned 642,469 shares of the company’s stock, valued at $4,086,102.84. The trade was a 14.71% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have purchased 1,205,810 shares of company stock valued at $8,138,302. Company insiders own 15.70% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Vestis in a research note on Wednesday, January 21st. The Goldman Sachs Group raised their price objective on Vestis from $5.30 to $6.00 and gave the company a “sell” rating in a report on Wednesday, February 11th. Barclays reaffirmed an “underweight” rating on shares of Vestis in a report on Tuesday, February 17th. JPMorgan Chase & Co. increased their target price on shares of Vestis from $5.50 to $6.00 and gave the company an “underweight” rating in a research report on Wednesday, December 3rd. Finally, Robert W. Baird boosted their price target on shares of Vestis from $5.00 to $6.50 and gave the stock a “neutral” rating in a research report on Tuesday, December 2nd. One equities research analyst has rated the stock with a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, Vestis has an average rating of “Strong Sell” and a consensus target price of $5.88.

Vestis Stock Down 5.0%

Shares of NYSE:VSTS opened at $7.58 on Tuesday. Vestis Corporation has a 52-week low of $3.98 and a 52-week high of $13.15. The stock has a market cap of $1.00 billion, a P/E ratio of -20.49 and a beta of 0.73. The business has a fifty day moving average of $6.98 and a two-hundred day moving average of $5.79. The company has a quick ratio of 1.74, a current ratio of 2.17 and a debt-to-equity ratio of 1.48.

Vestis (NYSE:VSTS) last announced its quarterly earnings results on Tuesday, February 10th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.04. Vestis had a negative net margin of 1.75% and a positive return on equity of 2.08%. The firm had revenue of $663.39 million for the quarter, compared to analysts’ expectations of $665.77 million. During the same quarter in the previous year, the company posted $0.14 EPS. The company’s revenue was down 3.0% compared to the same quarter last year. On average, research analysts expect that Vestis Corporation will post 0.7 earnings per share for the current year.

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. The company serves manufacturing, hospitality, retail, food processing, food service, pharmaceuticals, healthcare, automotive, and cleanroom industries.