Vestis Corporation $VSTS Shares Bought by SG Americas Securities LLC

Key Points

• SG Americas Securities LLC boosted its stake in Vestis by 1,506.6% in Q4, buying 276,638 shares to hold 295,000 shares (about 0.22% of the company) valued at $1.968 million.
• Vestis posted Q4 EPS of $0.10 versus $0.06 expected but slightly missed revenue ($663.4M vs. $665.8M) and still shows a negative net margin (−1.75%) and a negative trailing P/E.
• Sell-side sentiment is weak — the consensus rating is Strong Sell with an average price target of $5.88, below the recent share price of about $7.84.

SG Americas Securities LLC boosted its holdings in Vestis Corporation (NYSE:VSTS - Free Report) by 1,506.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 295,000 shares of the company's stock after purchasing an additional 276,638 shares during the quarter. SG Americas Securities LLC owned approximately 0.22% of Vestis worth $1,968,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its position in shares of Vestis by 471.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,456 shares of the company's stock worth $31,000 after buying an additional 4,502 shares during the period. Osaic Holdings Inc. lifted its position in shares of Vestis by 703.2% during the second quarter. Osaic Holdings Inc. now owns 5,743 shares of the company's stock worth $33,000 after purchasing an additional 5,028 shares in the last quarter. Simplicity Wealth LLC acquired a new position in Vestis in the 3rd quarter worth $46,000. Sanders Morris Harris LLC purchased a new position in Vestis in the third quarter valued at about $47,000. Finally, CIBC Bancorp USA Inc. purchased a new position in shares of Vestis during the 3rd quarter valued at approximately $56,000. Hedge funds and other institutional investors own 97.40% of the company's stock.

Vestis Price Performance

Shares of Vestis stock opened at $7.84 on Monday. Vestis Corporation has a 52 week low of $3.98 and a 52 week high of $9.80. The stock has a market cap of $1.03 billion, a PE ratio of -21.18 and a beta of 0.40. The company's 50-day moving average price is $7.55 and its two-hundred day moving average price is $6.45. The company has a current ratio of 2.17, a quick ratio of 1.74 and a debt-to-equity ratio of 1.48.

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

Analyst Upgrades and Downgrades

VSTS has been the topic of several research analyst reports. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Vestis in a research report on Wednesday, January 21st. Barclays reissued an "underweight" rating on shares of Vestis in a report on Tuesday, February 17th. Finally, The Goldman Sachs Group increased their price objective on Vestis from $5.30 to $6.00 and gave the stock a "sell" rating in a report on Wednesday, February 11th. One equities research analyst has rated the stock with a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Strong Sell" and an average target price of $5.88.

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. The company serves manufacturing, hospitality, retail, food processing, food service, pharmaceuticals, healthcare, automotive, and cleanroom industries.

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