AQR Capital Management LLC Acquires 1,004,497 Shares of Vestis Co. (NYSE:VSTS)

AQR Capital Management LLC grew its stake in Vestis Co. (NYSE:VSTS - Free Report) by 47.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,125,669 shares of the company's stock after purchasing an additional 1,004,497 shares during the quarter. AQR Capital Management LLC owned approximately 2.37% of Vestis worth $47,635,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Spire Wealth Management bought a new position in shares of Vestis during the fourth quarter worth approximately $29,000. Smartleaf Asset Management LLC lifted its position in shares of Vestis by 548.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,510 shares of the company's stock valued at $38,000 after acquiring an additional 2,123 shares during the period. GAMMA Investing LLC grew its holdings in shares of Vestis by 17.9% during the 4th quarter. GAMMA Investing LLC now owns 4,670 shares of the company's stock worth $71,000 after purchasing an additional 710 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Vestis in the fourth quarter worth $93,000. Finally, Sterling Capital Management LLC lifted its position in Vestis by 45.9% during the fourth quarter. Sterling Capital Management LLC now owns 7,882 shares of the company's stock worth $120,000 after purchasing an additional 2,479 shares during the period. Institutional investors own 97.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Robert W. Baird dropped their price objective on Vestis from $17.00 to $13.00 and set a "neutral" rating for the company in a research report on Thursday, March 20th. Barclays decreased their price objective on Vestis from $13.00 to $10.00 and set an "underweight" rating for the company in a report on Friday, April 4th. Finally, The Goldman Sachs Group lowered their price target on shares of Vestis from $15.00 to $13.00 and set a "neutral" rating for the company in a report on Monday, March 17th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $13.08.

Vestis Stock Down 39.1 %

Shares of Vestis stock traded down $3.41 during trading hours on Wednesday, reaching $5.31. The company's stock had a trading volume of 6,104,488 shares, compared to its average volume of 2,097,101. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.43 and a current ratio of 1.80. The stock's fifty day simple moving average is $9.41 and its two-hundred day simple moving average is $13.05. The company has a market capitalization of $698.91 million, a P/E ratio of 66.56 and a beta of 1.61. Vestis Co. has a one year low of $5.29 and a one year high of $17.83.

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

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.