Capital Fund Management S.A. Raises Stake in Vestis Corporation $VSTS

Capital Fund Management S.A. raised its stake in shares of Vestis Corporation (NYSE:VSTS) by 324.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 398,083 shares of the company’s stock after buying an additional 304,197 shares during the quarter. Capital Fund Management S.A. owned about 0.30% of Vestis worth $2,281,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of VSTS. PNC Financial Services Group Inc. boosted its position 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 valued at $54,000 after acquiring an additional 7,242 shares during the period. Ascent Group LLC purchased a new stake in Vestis in the 2nd quarter worth approximately $59,000. HB Wealth Management LLC bought a new position in Vestis in the 2nd quarter valued at $65,000. Creative Planning purchased a new position in shares of Vestis during the 2nd quarter valued at $65,000. Finally, Los Angeles Capital Management LLC bought a new position in shares of Vestis in the second quarter worth $67,000. 97.40% of the stock is owned by hedge funds and other institutional investors.

Vestis Stock Performance

Shares of NYSE VSTS opened at $6.37 on Thursday. The stock’s 50-day moving average is $5.30 and its 200 day moving average is $5.41. The stock has a market cap of $840.22 million, a price-to-earnings ratio of -20.56 and a beta of 0.78. Vestis Corporation has a 1-year low of $3.98 and a 1-year high of $17.83. The company has a current ratio of 2.08, a quick ratio of 1.42 and a debt-to-equity ratio of 1.49.

Vestis (NYSE:VSTS) last issued its quarterly earnings results on Monday, December 1st. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.13). The business had revenue of $712.01 million for the quarter, compared to the consensus estimate of $690.65 million. Vestis had a negative net margin of 1.47% and a positive return on equity of 2.62%. The firm’s revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.11 earnings per share. On average, sell-side analysts anticipate that Vestis Corporation will post 0.7 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on VSTS. Robert W. Baird lifted their price objective on Vestis from $5.00 to $6.50 and gave the company a “neutral” rating in a research note on Tuesday. Wall Street Zen raised Vestis from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. JPMorgan Chase & Co. upped their price objective on shares of Vestis from $5.50 to $6.00 and gave the stock an “underweight” rating in a research report on Wednesday. The Goldman Sachs Group lifted their target price on shares of Vestis from $5.50 to $6.30 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Vestis in a report on Wednesday, October 8th. Two 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, the stock presently has a consensus rating of “Strong Sell” and an average target price of $5.95.

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.