Louisiana State Employees Retirement System Buys New Position in Vestis Corporation $VSTS

Louisiana State Employees Retirement System purchased a new position in Vestis Corporation (NYSE:VSTS) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 49,700 shares of the company’s stock, valued at approximately $391,000.

Several other large investors have also added to or reduced their stakes in VSTS. EverSource Wealth Advisors LLC increased its position in Vestis by 471.9% during the 2nd 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. lifted its position in shares of Vestis by 703.2% in 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 period. Nisa Investment Advisors LLC boosted its stake in shares of Vestis by 147.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 5,175 shares of the company’s stock valued at $35,000 after purchasing an additional 3,082 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Vestis by 176.1% during the 4th quarter. Farther Finance Advisors LLC now owns 5,193 shares of the company’s stock valued at $35,000 after purchasing an additional 3,312 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new position in shares of Vestis during the fourth quarter valued at about $36,000. Institutional investors own 97.40% of the company’s stock.

Vestis Stock Up 0.0%

NYSE:VSTS opened at $14.12 on Thursday. The company has a debt-to-equity ratio of 1.44, a current ratio of 2.13 and a quick ratio of 1.69. The firm’s 50-day moving average price is $12.40 and its 200-day moving average price is $9.29. The company has a market capitalization of $1.86 billion, a PE ratio of -100.82 and a beta of 0.98. Vestis Corporation has a 1-year low of $3.98 and a 1-year high of $15.06.

Vestis (NYSE:VSTS) last issued its quarterly earnings results on Tuesday, May 12th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.07. Vestis had a negative net margin of 0.63% and a positive return on equity of 5.27%. The company had revenue of $659.44 million during the quarter, compared to analysts’ expectations of $655.32 million. During the same period last year, the company posted ($0.05) EPS. Vestis’s revenue was down .9% on a year-over-year basis. On average, equities analysts predict that Vestis Corporation will post 0.52 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Stifel Nicolaus increased their price target on shares of Vestis from $8.50 to $11.00 and gave the stock a “hold” rating in a research note on Wednesday, May 13th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $7.50 price objective on shares of Vestis in a research report on Wednesday, May 13th. Barclays upped their target price on Vestis from $6.00 to $9.00 and gave the stock an “underweight” rating in a report on Friday, May 15th. William Blair raised Vestis from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 12th. Finally, 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. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Vestis has a consensus rating of “Reduce” and a consensus target price of $9.50.

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.