Pacific Point Advisors LLC Grows Stake in Vestis Corporation $VSTS

Key Points

• Pacific Point Advisors LLC increased its position in Vestis by 603.8% in Q4, adding 184,181 shares to hold 214,686 shares (≈0.16% of the company) valued at about $1.43 million.
• Research analysts have a consensus rating of Strong Sell with a $5.88 average price target (one Hold, four Sell), despite the stock trading near $7.88 and a market cap of roughly $1.04 billion.
• Vestis beat quarterly EPS estimates ($0.10 vs. $0.06) but still reports a negative net margin (−1.75%) and a debt-to-equity ratio of 1.48, while institutional and hedge funds own about 97.4% of the shares.

Pacific Point Advisors LLC grew its position in Vestis Corporation (NYSE:VSTS - Free Report) by 603.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 214,686 shares of the company's stock after purchasing an additional 184,181 shares during the quarter. Pacific Point Advisors LLC owned about 0.16% of Vestis worth $1,432,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. AQR Capital Management LLC lifted its stake in shares of Vestis by 19.8% during the second quarter. AQR Capital Management LLC now owns 5,593,129 shares of the company's stock worth $32,049,000 after buying an additional 923,459 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Vestis by 0.6% during the third quarter. Dimensional Fund Advisors LP now owns 4,587,432 shares of the company's stock worth $20,780,000 after buying an additional 25,675 shares during the period. Vision One Management Partners LP lifted its stake in shares of Vestis by 8.5% during the second quarter. Vision One Management Partners LP now owns 3,590,017 shares of the company's stock worth $20,571,000 after buying an additional 281,000 shares during the period. Scopia Capital Management LP lifted its stake in shares of Vestis by 16.1% during the second quarter. Scopia Capital Management LP now owns 2,896,583 shares of the company's stock worth $16,597,000 after buying an additional 401,223 shares during the period. Finally, Private Management Group Inc. lifted its stake in shares of Vestis by 6.1% during the third quarter. Private Management Group Inc. now owns 2,589,626 shares of the company's stock worth $11,731,000 after buying an additional 149,908 shares during the period. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Barclays restated an "underweight" rating on shares of Vestis in a research report on Tuesday, February 17th. The Goldman Sachs Group boosted their target price on shares of Vestis from $5.30 to $6.00 and gave the company a "sell" rating in a research report on Wednesday, February 11th. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Vestis in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Strong Sell" and a consensus price target of $5.88.

Vestis Trading Up 1.0%

Shares of Vestis stock opened at $7.88 on Wednesday. The firm has a 50-day simple moving average of $7.59 and a two-hundred day simple moving average of $6.50. The company has a market cap of $1.04 billion, a P/E ratio of -21.28 and a beta of 0.40. Vestis Corporation has a fifty-two week low of $3.98 and a fifty-two week high of $9.80. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.74 and a current ratio of 2.17.

Vestis (NYSE:VSTS - Get Free Report) last issued its quarterly earnings data on Tuesday, February 10th. The company reported $0.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.06 by $0.04. The business had revenue of $663.39 million during the quarter, compared to the consensus estimate of $665.77 million. Vestis had a negative net margin of 1.75% and a positive return on equity of 2.08%. The company's revenue was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.14 earnings per share. As a group, equities analysts predict that Vestis Corporation will post 0.7 earnings per share for the current fiscal year.

Vestis 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.

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