Vestis Corporation $VSTS Stake Raised by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al increased its position in shares of Vestis Corporation (NYSE:VSTS) by 368.6% during the third quarter, Holdings Channel reports. The institutional investor owned 146,200 shares of the company’s stock after purchasing an additional 115,000 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Vestis were worth $1,953,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in VSTS. Philadelphia Investment Partners LLC acquired a new position in Vestis in the 2nd quarter valued at approximately $47,000. Public Employees Retirement System of Ohio bought a new stake in shares of Vestis in the 2nd quarter worth approximately $145,000. R Squared Ltd bought a new stake in shares of Vestis in the 1st quarter worth approximately $88,000. Allen Capital Group LLC acquired a new stake in shares of Vestis during the 1st quarter worth approximately $94,000. Finally, Sanders Morris Harris LLC acquired a new stake in shares of Vestis during the 3rd quarter worth approximately $173,000. 97.40% of the stock is currently owned by institutional investors.

Vestis Stock Performance

NYSE:VSTS opened at $14.63 on Wednesday. Vestis Corporation has a 12-month low of $4.93 and a 12-month high of $16.90. The company has a quick ratio of 1.75, a current ratio of 2.17 and a debt-to-equity ratio of 1.38. The firm has a market capitalization of $1.93 billion, a PE ratio of 31.23 and a beta of 0.83. The firm has a 50-day moving average price of $13.81 and a 200 day moving average price of $11.50.

Vestis (NYSE:VSTS) last posted its earnings results on Tuesday, August 11th. The company reported $0.18 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 the consensus estimate of $668.94 million. Vestis had a positive return on equity of 7.27% and a negative net margin of 0.20%. Research analysts anticipate that Vestis Corporation will post 0.62 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on VSTS shares. Barclays boosted their price objective on Vestis from $9.00 to $11.00 and gave the company an “underweight” rating in a research report on Wednesday, August 12th. The Goldman Sachs Group raised their target price on Vestis from $8.20 to $9.30 and gave the stock a “sell” rating in a research report on Tuesday, August 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Vestis in a research note on Friday, August 7th. Robert W. Baird lifted their price target on shares of Vestis from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 12th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Vestis from $11.00 to $13.00 and gave the company an “underweight” rating in a report on Thursday, August 13th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $12.66.

Insider Activity

In other news, CEO James Barber bought 84,500 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The stock was bought at an average price of $12.37 per share, for a total transaction of $1,045,265.00. Following the completion of the purchase, the chief executive officer owned 867,222 shares of the company’s stock, valued at approximately $10,727,536.14. The trade was a 10.80% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 15.70% of the company’s stock.

About Vestis

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.