Vestis Corporation $VSTS Holdings Trimmed by Rhumbline Advisers

Rhumbline Advisers decreased its stake in Vestis Corporation (NYSE:VSTS) by 5.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 272,885 shares of the company’s stock after selling 16,167 shares during the quarter. Rhumbline Advisers owned 0.21% of Vestis worth $2,702,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of VSTS. New York State Common Retirement Fund boosted its position in Vestis by 7.3% during the 1st quarter. New York State Common Retirement Fund now owns 368,747 shares of the company’s stock worth $3,651,000 after acquiring an additional 25,044 shares during the period. Fox Run Management L.L.C. bought a new position in shares of Vestis in the 1st quarter valued at approximately $637,000. Lord Abbett & CO. LLC raised its stake in shares of Vestis by 27.4% in the 1st quarter. Lord Abbett & CO. LLC now owns 638,134 shares of the company’s stock valued at $6,318,000 after acquiring an additional 137,243 shares in the last quarter. Jane Street Group LLC raised its stake in shares of Vestis by 700.5% in the 1st quarter. Jane Street Group LLC now owns 1,982,027 shares of the company’s stock valued at $19,622,000 after acquiring an additional 1,734,442 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in Vestis in the 1st quarter valued at approximately $2,746,000. Institutional investors and hedge funds own 97.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. JPMorgan Chase & Co. lowered their target price on Vestis from $6.00 to $5.50 and set an “underweight” rating on the stock in a report on Thursday, August 7th. Wall Street Zen raised Vestis from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Two research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $9.13.

Vestis Stock Down 2.4%

Shares of Vestis stock opened at $4.11 on Wednesday. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.84 and a quick ratio of 1.42. The company has a market capitalization of $541.86 million, a P/E ratio of -17.87 and a beta of 0.97. The business has a 50-day moving average of $5.21 and a two-hundred day moving average of $6.89. Vestis Corporation has a 1 year low of $3.98 and a 1 year high of $17.83.

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