Police & Firemen s Retirement System of New Jersey Trims Stock Holdings in Vestis Corporation $VSTS

Police & Firemen s Retirement System of New Jersey lessened its position in shares of Vestis Corporation (NYSE:VSTS) by 35.6% during the 2nd quarter, Holdings Channel reports. The firm owned 27,685 shares of the company’s stock after selling 15,279 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Vestis were worth $159,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the company. PNC Financial Services Group Inc. raised its stake in shares of Vestis by 331.4% in the second quarter. PNC Financial Services Group Inc. now owns 9,427 shares of the company’s stock worth $54,000 after purchasing an additional 7,242 shares during the last quarter. Ascent Group LLC purchased a new position in Vestis during the 2nd quarter worth approximately $59,000. HB Wealth Management LLC acquired a new stake in Vestis during the 2nd quarter valued at approximately $65,000. Los Angeles Capital Management LLC acquired a new stake in Vestis during the 2nd quarter valued at approximately $67,000. Finally, Ethic Inc. purchased a new stake in shares of Vestis in the 2nd quarter valued at $74,000. 97.40% of the stock is owned by institutional investors and hedge funds.

Vestis Stock Up 1.3%

VSTS stock opened at $6.53 on Friday. The firm’s fifty day moving average is $5.16 and its 200 day moving average is $5.41. The firm has a market cap of $860.26 million, a PE ratio of -28.37 and a beta of 0.98. Vestis Corporation has a one year low of $3.98 and a one year high of $17.83. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.42 and a current ratio of 1.84.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on VSTS shares. JPMorgan Chase & Co. reduced 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. Weiss Ratings reiterated a “sell (d)” rating on shares of Vestis in a research note on Wednesday, October 8th. 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. According to data from MarketBeat.com, Vestis presently has a consensus rating of “Strong Sell” and a consensus price target 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.