Vestis Corporation (NYSE:VSTS) Receives Consensus Rating of "Strong Sell" from Brokerages

Key Points

• Vestis Corporation has received a consensus rating of "Strong Sell" from five brokerages, with three analysts suggesting to sell and two recommending to hold the stock.
• After recently reporting quarterly earnings, Vestis had a revenue of $673.80 million, which was slightly above analyst expectations, though quarterly revenue has declined 3.5% year-over-year.
• Institutional investors hold 97.40% of Vestis shares, with significant increases in stakes from major funds like Jane Street Group LLC and Stanley Capital Management LLC in the last quarter.

Vestis Corporation (NYSE:VSTS - Get Free Report) has been assigned a consensus recommendation of "Strong Sell" from the five ratings firms that are currently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation and two have assigned a hold recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $9.1250.

Several research firms have recently weighed in on VSTS. Weiss Ratings reissued a "sell (d)" rating on shares of Vestis in a report on Saturday, September 27th. JPMorgan Chase & Co. lowered their price target on Vestis from $6.00 to $5.50 and set an "underweight" rating on the stock in a report on Thursday, August 7th. Finally, Wall Street Zen raised Vestis from a "sell" rating to a "hold" rating in a report on Saturday, August 9th.

Hedge Funds Weigh In On Vestis

Institutional investors have recently bought and sold shares of the stock. New York State Common Retirement Fund raised its holdings in Vestis by 7.3% in the 1st quarter. New York State Common Retirement Fund now owns 368,747 shares of the company's stock worth $3,651,000 after purchasing an additional 25,044 shares during the period. Jane Street Group LLC increased its stake in Vestis by 700.5% in the 1st quarter. Jane Street Group LLC now owns 1,982,027 shares of the company's stock worth $19,622,000 after buying an additional 1,734,442 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in Vestis in the 1st quarter worth $637,000. Stanley Capital Management LLC increased its stake in Vestis by 163.6% in the 1st quarter. Stanley Capital Management LLC now owns 2,191,107 shares of the company's stock worth $21,692,000 after buying an additional 1,359,807 shares in the last quarter. Finally, Lord Abbett & CO. LLC increased its stake in Vestis by 27.4% in the 1st quarter. Lord Abbett & CO. LLC now owns 638,134 shares of the company's stock worth $6,318,000 after buying an additional 137,243 shares in the last quarter. 97.40% of the stock is owned by institutional investors.

Vestis Stock Up 4.0%

VSTS stock traded up $0.20 during midday trading on Friday, hitting $5.06. The company's stock had a trading volume of 2,058,378 shares, compared to its average volume of 2,314,790. The company has a market cap of $666.45 million, a PE ratio of -21.98 and a beta of 0.97. Vestis 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 firm's 50-day moving average is $4.74 and its 200-day moving average is $6.32.

Vestis (NYSE:VSTS - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 firm's quarterly revenue was down 3.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.16 EPS. On average, equities research analysts forecast that Vestis will post 0.7 earnings per share 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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