QSM Asset Management Ltd Has $2.54 Million Stake in Vestis Corporation $VSTS

QSM Asset Management Ltd raised its stake in shares of Vestis Corporation (NYSE:VSTS) by 25.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 380,072 shares of the company’s stock after buying an additional 76,036 shares during the period. Vestis accounts for approximately 1.5% of QSM Asset Management Ltd’s portfolio, making the stock its 21st biggest holding. QSM Asset Management Ltd owned 0.29% of Vestis worth $2,535,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in VSTS. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Vestis by 10.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 355,493 shares of the company’s stock valued at $3,519,000 after acquiring an additional 34,809 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Vestis in the 1st quarter worth approximately $762,000. PNC Financial Services Group Inc. lifted its holdings in Vestis by 331.4% in the 2nd 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. Geode Capital Management LLC boosted its position in Vestis by 45.3% during the second quarter. Geode Capital Management LLC now owns 2,731,391 shares of the company’s stock worth $15,652,000 after purchasing an additional 851,208 shares during the period. Finally, Creative Planning bought a new stake in Vestis during the second quarter worth approximately $65,000. Institutional investors and hedge funds own 97.40% of the company’s stock.

Vestis Price Performance

NYSE:VSTS opened at $7.81 on Tuesday. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.17 and a quick ratio of 1.74. Vestis Corporation has a one year low of $3.98 and a one year high of $10.05. The company has a fifty day moving average price of $7.46 and a 200 day moving average price of $6.34. The stock has a market cap of $1.03 billion, a P/E ratio of -21.12 and a beta of 0.48.

Vestis (NYSE:VSTS) last posted its quarterly earnings results on Tuesday, February 10th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.04. The company had revenue of $663.39 million for the quarter, compared to analyst estimates of $665.77 million. Vestis had a negative net margin of 1.75% and a positive return on equity of 2.08%. The business’s quarterly revenue was down 3.0% on a year-over-year basis. During the same period last year, the business posted $0.14 EPS. Analysts anticipate that Vestis Corporation will post 0.7 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on VSTS shares. JPMorgan Chase & Co. lifted their price target on shares of Vestis from $5.50 to $6.00 and gave the company an “underweight” rating in a research report on Wednesday, December 3rd. Weiss Ratings reiterated a “sell (d)” rating on shares of Vestis in a research note on Wednesday, January 21st. The Goldman Sachs Group lifted their target price on shares of Vestis from $5.30 to $6.00 and gave the stock a “sell” rating in a report on Wednesday, February 11th. Barclays reissued an “underweight” rating on shares of Vestis in a research report on Tuesday, February 17th. Finally, Robert W. Baird upped their price target on shares of Vestis from $5.00 to $6.50 and gave the company a “neutral” rating in a report on Tuesday, December 2nd. One investment analyst has rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Vestis has an average rating of “Strong Sell” and a consensus price target of $5.88.

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. The company serves manufacturing, hospitality, retail, food processing, food service, pharmaceuticals, healthcare, automotive, and cleanroom industries.