Vestis Corporation $VSTS Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC grew its holdings in shares of Vestis Corporation (NYSE:VSTS) by 571.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,979,460 shares of the company’s stock after purchasing an additional 1,684,460 shares during the period. SG Americas Securities LLC owned about 1.50% of Vestis worth $15,559,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Caitong International Asset Management Co. Ltd purchased a new stake in Vestis during the 4th quarter worth approximately $86,000. Alpine Global Management LLC purchased a new position in Vestis in the 4th quarter valued at approximately $90,000. Virtu Financial LLC purchased a new position in Vestis in the 4th quarter valued at approximately $211,000. Invesco Ltd. grew its stake in shares of Vestis by 2.5% in the fourth quarter. Invesco Ltd. now owns 1,300,172 shares of the company’s stock worth $8,672,000 after acquiring an additional 31,428 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its stake in shares of Vestis by 107.4% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 21,860 shares of the company’s stock worth $146,000 after acquiring an additional 11,318 shares in the last quarter. Institutional investors and hedge funds own 97.40% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Robert W. Baird increased their price objective on Vestis from $10.00 to $14.00 and gave the company a “neutral” rating in a research note on Wednesday, May 13th. Barclays upped their price target on Vestis from $6.00 to $9.00 and gave the stock an “underweight” rating in a report on Friday, May 15th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $7.50 price target on shares of Vestis in a research report on Wednesday, May 13th. Stifel Nicolaus lifted their price objective on Vestis from $8.50 to $11.00 and gave the company a “hold” rating in a research note on Wednesday, May 13th. Finally, William Blair raised Vestis from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 12th. One research 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $9.50.

Vestis Price Performance

Shares of VSTS opened at $13.71 on Friday. Vestis Corporation has a twelve month low of $3.98 and a twelve month high of $14.04. The firm’s fifty day simple moving average is $11.58 and its 200-day simple moving average is $8.84. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of -97.92 and a beta of 1.08. The company has a current ratio of 2.13, a quick ratio of 1.69 and a debt-to-equity ratio of 1.44.

Vestis (NYSE:VSTS) last issued its earnings results on Tuesday, May 12th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates 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 negative net margin of 0.63% and a positive return on equity of 5.27%. The company’s revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. Equities analysts forecast that Vestis Corporation will post 0.52 EPS for the current fiscal 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.