10,287 Shares in Vestis Corporation $VSTS Bought by Ascent Group LLC

Ascent Group LLC acquired a new position in shares of Vestis Corporation (NYSE:VSTS) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 10,287 shares of the company’s stock, valued at approximately $59,000.

A number of other institutional investors have also recently added to or reduced their stakes in VSTS. GAMMA Investing LLC grew its stake in Vestis by 895.9% during the 1st quarter. GAMMA Investing LLC now owns 46,510 shares of the company’s stock worth $4,698,000 after buying an additional 41,840 shares during the last quarter. Merit Financial Group LLC grew its stake in Vestis by 40.6% during the 1st quarter. Merit Financial Group LLC now owns 21,545 shares of the company’s stock worth $213,000 after buying an additional 6,219 shares during the last quarter. IMC Chicago LLC grew its stake in Vestis by 2,736.2% during the 1st quarter. IMC Chicago LLC now owns 49,798 shares of the company’s stock worth $493,000 after buying an additional 51,687 shares during the last quarter. Pallas Capital Advisors LLC grew its stake in Vestis by 42.3% during the 1st quarter. Pallas Capital Advisors LLC now owns 38,221 shares of the company’s stock worth $378,000 after buying an additional 11,353 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in Vestis during the 1st quarter worth $350,000. 97.40% of the stock is currently owned by institutional investors.

Vestis Stock Performance

Shares of Vestis stock opened at $5.07 on Thursday. The company has a quick ratio of 1.42, a current ratio of 1.84 and a debt-to-equity ratio of 1.45. The firm has a market cap of $668.43 million, a price-to-earnings ratio of -22.04 and a beta of 0.97. The business has a fifty day simple moving average of $4.67 and a 200-day simple moving average of $6.21. Vestis Corporation has a fifty-two week low of $3.98 and a fifty-two week high of $17.83.

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

Analysts Set New Price Targets

A number of research analysts recently commented on VSTS shares. Weiss Ratings restated a “sell (d)” rating on shares of Vestis in a research note on Wednesday. JPMorgan Chase & Co. lowered their price objective on Vestis from $6.00 to $5.50 and set an “underweight” rating for the company in a research note on Thursday, August 7th. Finally, Wall Street Zen upgraded Vestis from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Two equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Strong Sell” and a consensus target price of $9.13.

About Vestis

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.