Vestis Co. (NYSE:VSTS) Position Raised by Vision One Management Partners LP

Vision One Management Partners LP increased its position in Vestis Co. (NYSE:VSTS - Free Report) by 34.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,107,559 shares of the company's stock after acquiring an additional 538,739 shares during the period. Vestis comprises about 17.2% of Vision One Management Partners LP's investment portfolio, making the stock its 2nd biggest holding. Vision One Management Partners LP owned 1.60% of Vestis worth $32,119,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Gamco Investors INC. ET AL grew its holdings in Vestis by 2.0% during the fourth quarter. Gamco Investors INC. ET AL now owns 45,350 shares of the company's stock valued at $691,000 after purchasing an additional 875 shares during the period. Bank of Montreal Can grew its holdings in Vestis by 11.1% during the fourth quarter. Bank of Montreal Can now owns 15,315 shares of the company's stock valued at $233,000 after purchasing an additional 1,534 shares during the period. Swiss National Bank grew its holdings in Vestis by 0.7% during the fourth quarter. Swiss National Bank now owns 232,750 shares of the company's stock valued at $3,547,000 after purchasing an additional 1,700 shares during the period. True Wealth Design LLC bought a new stake in Vestis during the fourth quarter valued at about $29,000. Finally, Spire Wealth Management bought a new stake in Vestis during the fourth quarter valued at about $29,000. Institutional investors own 97.40% of the company's stock.

Vestis Price Performance

Shares of Vestis stock traded up $0.22 during trading hours on Friday, hitting $5.97. The company's stock had a trading volume of 2,788,971 shares, compared to its average volume of 2,154,778. The business has a 50 day moving average price of $8.09 and a two-hundred day moving average price of $12.34. Vestis Co. has a 12-month low of $5.20 and a 12-month high of $17.83. The company has a market cap of $786.74 million, a PE ratio of 74.63 and a beta of 1.61. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.43 and a current ratio of 1.80.

Vestis (NYSE:VSTS - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.15 by ($0.20). Vestis had a net margin of 0.34% and a return on equity of 7.91%. The business had revenue of $665.25 million during the quarter, compared to analysts' expectations of $690.81 million. The business's revenue for the quarter was down 5.7% compared to the same quarter last year. Analysts expect that Vestis Co. will post 0.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

VSTS has been the subject of several recent research reports. Robert W. Baird cut their price target on Vestis from $17.00 to $13.00 and set a "neutral" rating for the company in a report on Thursday, March 20th. The Goldman Sachs Group cut their price target on Vestis from $15.00 to $13.00 and set a "neutral" rating for the company in a report on Monday, March 17th. Finally, Barclays cut their price target on Vestis from $10.00 to $5.00 and set an "underweight" rating for the company in a report on Friday, May 9th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat.com, Vestis currently has an average rating of "Hold" and an average target price of $11.75.

Insider Activity

In other news, Director Douglas A. Pertz bought 70,000 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The shares were bought at an average cost of $6.17 per share, for a total transaction of $431,900.00. Following the completion of the transaction, the director now owns 297,010 shares of the company's stock, valued at approximately $1,832,551.70. This represents a 30.84% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO William J. Seward bought 10,000 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The stock was purchased at an average price of $6.23 per share, for a total transaction of $62,300.00. Following the completion of the transaction, the chief operating officer now directly owns 130,862 shares of the company's stock, valued at $815,270.26. This represents a 8.27% increase in their position. The disclosure for this purchase can be found here. Company insiders own 13.60% of the company's stock.

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.