Vestis Corporation $VSTS Stock Holdings Lifted by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC raised its stake in Vestis Corporation (NYSE:VSTS) by 28.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 61,307 shares of the company’s stock after buying an additional 13,589 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Vestis were worth $377,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Spire Wealth Management increased its holdings in shares of Vestis by 168.2% in the first quarter. Spire Wealth Management now owns 5,110 shares of the company’s stock valued at $51,000 after buying an additional 3,205 shares in the last quarter. Copeland Capital Management LLC increased its holdings in shares of Vestis by 33.0% in the first quarter. Copeland Capital Management LLC now owns 5,428 shares of the company’s stock valued at $54,000 after buying an additional 1,346 shares in the last quarter. KBC Group NV increased its holdings in shares of Vestis by 54.2% in the first quarter. KBC Group NV now owns 7,309 shares of the company’s stock valued at $72,000 after buying an additional 2,568 shares in the last quarter. Hsbc Holdings PLC bought a new position in shares of Vestis in the first quarter valued at $137,000. Finally, Bfsg LLC increased its holdings in shares of Vestis by 128.2% in the first quarter. Bfsg LLC now owns 14,210 shares of the company’s stock valued at $141,000 after buying an additional 7,984 shares in the last quarter. Institutional investors own 97.40% of the company’s stock.

Vestis Trading Up 0.7%

Vestis stock opened at $5.06 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 $666.45 million, a price-to-earnings ratio of -21.98 and a beta of 0.97. Vestis Corporation has a one year low of $3.98 and a one year high of $17.83. The company’s fifty day moving average price is $4.69 and its two-hundred day moving average price is $6.22.

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

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Vestis in a research note on Saturday, September 27th. Wall Street Zen raised shares of Vestis from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, JPMorgan Chase & Co. cut their target price on shares of Vestis from $6.00 to $5.50 and set an “underweight” rating on the stock in a research note on Thursday, August 7th. Two equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Vestis presently has a consensus rating of “Strong Sell” and an average price target of $9.13.

Vestis 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.