Vestis Corporation $VSTS Stock Holdings Boosted by State of Wyoming

State of Wyoming raised its position in Vestis Corporation (NYSE:VSTS) by 477.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,201 shares of the company’s stock after acquiring an additional 38,197 shares during the quarter. State of Wyoming’s holdings in Vestis were worth $617,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of VSTS. VIRGINIA RETIREMENT SYSTEMS ET Al grew its holdings in shares of Vestis by 368.6% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 146,200 shares of the company’s stock valued at $1,953,000 after purchasing an additional 115,000 shares in the last quarter. Axon Capital LP purchased a new position in Vestis in the 3rd quarter valued at approximately $2,432,000. Range Financial Group LLC boosted its position in Vestis by 2.2% in the 3rd quarter. Range Financial Group LLC now owns 120,196 shares of the company’s stock valued at $1,606,000 after buying an additional 2,586 shares during the period. Nisa Investment Advisors LLC boosted its position in Vestis by 65.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 14,500 shares of the company’s stock valued at $194,000 after buying an additional 5,733 shares during the period. Finally, Robeco Institutional Asset Management B.V. acquired a new position in shares of Vestis in the third quarter worth $325,000. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Vestis news, CEO James Barber purchased 84,500 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The stock was bought at an average cost of $12.37 per share, with a total value of $1,045,265.00. Following the acquisition, the chief executive officer directly owned 867,222 shares of the company’s stock, valued at approximately $10,727,536.14. This represents a 10.80% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 15.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on VSTS shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Vestis in a research note on Friday, August 7th. Barclays lifted their target price on Vestis from $9.00 to $11.00 and gave the company an “underweight” rating in a report on Wednesday, August 12th. The Goldman Sachs Group boosted their target price on Vestis from $8.20 to $9.30 and gave the stock a “sell” rating in a research note on Tuesday, August 11th. Robert W. Baird upped their price target on Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Wednesday, August 12th. Finally, Stifel Nicolaus increased their price target on Vestis from $11.00 to $14.00 and gave the company a “hold” rating in a research report on Wednesday, August 12th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $12.66.

Vestis Trading Down 0.3%

Shares of NYSE:VSTS opened at $14.79 on Monday. Vestis Corporation has a 52 week low of $4.83 and a 52 week high of $16.90. The company’s 50 day moving average is $13.73 and its two-hundred day moving average is $11.41. The company has a current ratio of 2.17, a quick ratio of 1.75 and a debt-to-equity ratio of 1.38. The company has a market cap of $1.95 billion, a PE ratio of -295.74 and a beta of 0.82.

Vestis (NYSE:VSTS) last released its quarterly earnings data on Tuesday, August 11th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.08. The business had revenue of $661.66 million during the quarter, compared to analysts’ expectations of $668.94 million. Vestis had a negative net margin of 0.20% and a positive return on equity of 7.27%. Equities analysts predict that Vestis Corporation will post 0.62 earnings per share for the current fiscal year.

Vestis Profile

Vestis Corporation (NYSE: VSTS) provides workplace apparel and facility services to businesses and organizations across the United States and Canada. Its offerings are designed to help customers manage employee uniforms and maintain clean, safe, and professional work environments.

The company supplies and services uniforms, workwear, and protective apparel, along with related products such as linens, towels, floor mats, restroom supplies, first-aid products, and other workplace essentials.