Bleakley Financial Group LLC Boosts Holdings in Vestis Corporation $VSTS

Bleakley Financial Group LLC raised its stake in shares of Vestis Corporation (NYSE:VSTS) by 54.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 112,609 shares of the company’s stock after buying an additional 39,894 shares during the quarter. Bleakley Financial Group LLC owned about 0.09% of Vestis worth $885,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of VSTS. Royal Bank of Canada increased its holdings in Vestis by 1,520.5% in the 4th quarter. Royal Bank of Canada now owns 5,688,399 shares of the company’s stock worth $37,942,000 after buying an additional 5,337,380 shares in the last quarter. Greenstone Partners & Co. LLC bought a new position in Vestis in the fourth quarter valued at about $33,979,000. Jacobs Levy Equity Management Inc. boosted its position in Vestis by 1,265.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,960,150 shares of the company’s stock worth $8,879,000 after purchasing an additional 1,816,633 shares during the last quarter. SG Americas Securities LLC boosted its position in Vestis by 571.0% in the first quarter. SG Americas Securities LLC now owns 1,979,460 shares of the company’s stock worth $15,559,000 after purchasing an additional 1,684,460 shares during the last quarter. Finally, Jefferies Financial Group Inc. bought a new stake in shares of Vestis during the 4th quarter valued at about $8,419,000. Institutional investors own 97.40% of the company’s stock.

Analyst Ratings Changes

VSTS has been the topic of several recent research reports. Barclays increased their price objective on shares of Vestis from $6.00 to $9.00 and gave the stock an “underweight” rating in a research note on Friday, May 15th. The Goldman Sachs Group restated a “sell” rating and set a $7.50 target price on shares of Vestis in a research report on Wednesday, May 13th. Stifel Nicolaus upped their target price on shares of Vestis from $8.50 to $11.00 and gave the company a “hold” rating in a report on Wednesday, May 13th. Zacks Research upgraded shares of Vestis from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 10th. Finally, Robert W. Baird lifted their price objective on shares of Vestis from $10.00 to $14.00 and gave the company a “neutral” rating in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Vestis has an average rating of “Reduce” and an average target price of $9.50.

Vestis Trading Up 0.9%

VSTS stock opened at $16.56 on Friday. Vestis Corporation has a 12 month low of $3.98 and a 12 month high of $16.90. The firm’s 50-day moving average is $13.22 and its 200 day moving average is $9.68. The company has a market capitalization of $2.19 billion, a PE ratio of -118.29 and a beta of 0.98. The company has a debt-to-equity ratio of 1.44, a current ratio of 2.13 and a quick ratio of 1.69.

Vestis (NYSE:VSTS) last announced 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. The firm had revenue of $659.44 million during the quarter, compared to analyst estimates of $655.32 million. Vestis had a positive return on equity of 5.27% and a negative net margin of 0.63%.Vestis’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.05) earnings per share. On average, research analysts anticipate that Vestis Corporation will post 0.52 EPS 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.