Counterpoint Mutual Funds LLC Buys New Stake in Vestis Corporation $VSTS

Key Points

• Counterpoint Mutual Funds LLC acquired a new stake in Vestis Corporation during the second quarter, buying 123,888 shares valued at approximately $710,000.
• Vestis reported a 3.5% year-over-year decline in revenue and had earnings per share of $0.05, matching the consensus estimate.
• Wall Street analysts have varying ratings for Vestis, with a consensus target price of $9.13 and two analysts rating the stock as "Sell".

Counterpoint Mutual Funds LLC bought a new stake in Vestis Corporation (NYSE:VSTS - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 123,888 shares of the company's stock, valued at approximately $710,000. Counterpoint Mutual Funds LLC owned approximately 0.09% of Vestis as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Copeland Capital Management LLC lifted its stake in Vestis by 33.0% in the 1st quarter. Copeland Capital Management LLC now owns 5,428 shares of the company's stock valued at $54,000 after buying an additional 1,346 shares in the last quarter. Landscape Capital Management L.L.C. lifted its stake in Vestis by 10.5% in the 1st quarter. Landscape Capital Management L.L.C. now owns 18,447 shares of the company's stock valued at $183,000 after buying an additional 1,753 shares in the last quarter. Federated Hermes Inc. lifted its stake in Vestis by 2.0% in the 1st quarter. Federated Hermes Inc. now owns 121,589 shares of the company's stock valued at $1,204,000 after buying an additional 2,352 shares in the last quarter. KBC Group NV lifted its stake in Vestis by 54.2% in the 1st quarter. KBC Group NV now owns 7,309 shares of the company's stock valued at $72,000 after buying an additional 2,568 shares in the last quarter. Finally, Illinois Municipal Retirement Fund lifted its stake in Vestis by 4.6% in the 1st quarter. Illinois Municipal Retirement Fund now owns 62,177 shares of the company's stock valued at $616,000 after buying an additional 2,727 shares in the last quarter. Hedge funds and other institutional investors own 97.40% of the company's stock.

Vestis Stock Down 1.3%

Shares of NYSE VSTS opened at $4.10 on Tuesday. Vestis Corporation has a 12-month low of $3.98 and a 12-month high of $17.83. The company has a market cap of $539.88 million, a P/E ratio of -17.80 and a beta of 0.98. The company has a current ratio of 1.84, a quick ratio of 1.42 and a debt-to-equity ratio of 1.45. The stock has a fifty day moving average price of $5.05 and a 200 day moving average price of $6.66.

Vestis (NYSE:VSTS - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.05 earnings per share for the quarter, meeting the consensus estimate of $0.05. The company had revenue of $673.80 million during the quarter, compared to the consensus estimate of $673.65 million. Vestis had a positive return on equity of 3.76% and a negative net margin of 1.11%.The company's revenue was down 3.5% on a year-over-year basis. During the same period last year, the firm earned $0.16 earnings per share. Research analysts anticipate that Vestis Corporation will post 0.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

VSTS has been the topic of a number of recent research reports. JPMorgan Chase & Co. reduced their target price on Vestis from $6.00 to $5.50 and set an "underweight" rating on the stock in a research note on Thursday, August 7th. Wall Street Zen raised Vestis from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Two equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Vestis presently has a consensus rating of "Reduce" and a consensus target price of $9.13.

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.

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