Vestis Corporation $VSTS Stake Boosted by Stanley Capital Management LLC

Key Points

• Stanley Capital Management LLC significantly increased its stake in Vestis Corporation by 163.6%, acquiring over 1.35 million additional shares, making Vestis its 6th largest holding.
• Vestis Corporation's shares opened at $4.36 and the company has a market cap of $574.16 million, with analysts currently giving it a consensus "Reduce" rating and a price target of $9.13.
• Despite reporting earnings that met consensus estimates, Vestis experienced a 3.5% year-over-year revenue decline, emphasizing challenges faced in the current market environment.

Stanley Capital Management LLC boosted its stake in Vestis Corporation (NYSE:VSTS - Free Report) by 163.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,191,107 shares of the company's stock after purchasing an additional 1,359,807 shares during the quarter. Vestis makes up 4.3% of Stanley Capital Management LLC's investment portfolio, making the stock its 6th largest position. Stanley Capital Management LLC owned about 1.66% of Vestis worth $21,692,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in VSTS. Northern Trust Corp boosted its stake in Vestis by 3.7% in the 4th quarter. Northern Trust Corp now owns 1,067,696 shares of the company's stock worth $16,272,000 after purchasing an additional 38,056 shares during the period. BNP Paribas Financial Markets bought a new position in Vestis in the 4th quarter worth about $1,357,000. Captrust Financial Advisors boosted its stake in Vestis by 81.9% in the 4th quarter. Captrust Financial Advisors now owns 24,505 shares of the company's stock worth $373,000 after purchasing an additional 11,034 shares during the period. D. E. Shaw & Co. Inc. bought a new position in Vestis in the 4th quarter worth about $2,308,000. Finally, Graham Capital Management L.P. bought a new position in Vestis in the 4th quarter worth about $453,000. Institutional investors own 97.40% of the company's stock.

Vestis Trading Up 0.1%

Vestis stock traded up $0.01 during trading hours on Wednesday, reaching $4.12. The company had a trading volume of 915,518 shares, compared to its average volume of 2,287,832. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.84 and a quick ratio of 1.42. The company has a 50-day moving average price of $5.21 and a 200 day moving average price of $6.89. The firm has a market cap of $542.52 million, a price-to-earnings ratio of -17.89 and a beta of 0.97. Vestis Corporation has a 12-month low of $3.98 and a 12-month high of $17.83.

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Wall Street Zen upgraded Vestis from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. JPMorgan Chase & Co. cut their price objective on Vestis from $6.00 to $5.50 and set an "underweight" rating for the company in a report on Thursday, August 7th. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average target price of $9.13.

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.