Vestis Co. (NYSE:VSTS) Sees Large Increase in Short Interest

Vestis Co. (NYSE:VSTS - Get Free Report) was the target of a large increase in short interest in April. As of April 15th, there was short interest totalling 7,450,000 shares, an increase of 25.4% from the March 31st total of 5,940,000 shares. Approximately 5.7% of the company's shares are sold short. Based on an average daily trading volume, of 2,200,000 shares, the short-interest ratio is currently 3.4 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Spire Wealth Management acquired a new stake in Vestis during the 4th quarter worth about $29,000. True Wealth Design LLC purchased a new position in shares of Vestis in the fourth quarter valued at approximately $29,000. Smartleaf Asset Management LLC lifted its stake in Vestis by 548.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,510 shares of the company's stock worth $38,000 after acquiring an additional 2,123 shares during the last quarter. Copeland Capital Management LLC increased its stake in Vestis by 33.0% in the first quarter. Copeland Capital Management LLC now owns 5,428 shares of the company's stock valued at $54,000 after purchasing an additional 1,346 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Vestis by 17.9% in the 4th quarter. GAMMA Investing LLC now owns 4,670 shares of the company's stock valued at $71,000 after purchasing an additional 710 shares during the period. Hedge funds and other institutional investors own 97.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on VSTS. Robert W. Baird decreased their price target on shares of Vestis from $17.00 to $13.00 and set a "neutral" rating for the company in a research note on Thursday, March 20th. The Goldman Sachs Group cut their target price on Vestis from $15.00 to $13.00 and set a "neutral" rating on the stock in a report on Monday, March 17th. Finally, Barclays reduced their target price on Vestis from $13.00 to $10.00 and set an "underweight" rating for the company in a report on Friday, April 4th. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat.com, Vestis currently has a consensus rating of "Hold" and a consensus target price of $13.08.

Vestis Price Performance

Shares of VSTS traded up $0.27 during trading hours on Friday, reaching $8.97. 1,474,049 shares of the stock traded hands, compared to its average volume of 2,211,022. Vestis has a 52-week low of $7.35 and a 52-week high of $17.83. The company has a current ratio of 1.80, a quick ratio of 1.43 and a debt-to-equity ratio of 1.39. The company's 50-day moving average price is $9.55 and its two-hundred day moving average price is $13.15. The company has a market cap of $1.18 billion, a P/E ratio of 112.14 and a beta of 1.61.

Vestis (NYSE:VSTS - Get Free Report) last issued its earnings results on Friday, January 31st. The company reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. Vestis had a return on equity of 7.91% and a net margin of 0.34%. During the same quarter last year, the firm posted $0.22 earnings per share. On average, analysts anticipate that Vestis will post 0.7 earnings per share for the current 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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