Vestis Corporation $VSTS Shares Bought 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 position in shares of Vestis Corporation (NYSE:VSTS - Free Report) by 163.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,191,107 shares of the company's stock after acquiring an additional 1,359,807 shares during the period. Vestis comprises 4.3% of Stanley Capital Management LLC's investment portfolio, making the stock its 6th biggest holding. Stanley Capital Management LLC owned about 1.66% of Vestis worth $21,692,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on VSTS. JPMorgan Chase & Co. lowered their target price on shares of Vestis from $6.00 to $5.50 and set an "underweight" rating for the company in a report on Thursday, August 7th. Wall Street Zen upgraded shares of Vestis from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Two 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, the company currently has a consensus rating of "Reduce" and a consensus price target of $9.13.

Vestis Trading Up 7.0%

Shares of Vestis stock opened at $4.36 on Friday. The company has a fifty day simple moving average of $5.32 and a 200-day simple moving average of $7.09. Vestis Corporation has a 12-month low of $3.98 and a 12-month high of $17.83. 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 market cap of $574.16 million, a price-to-earnings ratio of -18.93 and a beta of 0.97.

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

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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