Public Employees Retirement System of Ohio Has $88,000 Holdings in Vestis Corporation $VSTS

Public Employees Retirement System of Ohio lessened its holdings in Vestis Corporation (NYSE:VSTS) by 94.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,231 shares of the company’s stock after selling 194,894 shares during the period. Public Employees Retirement System of Ohio’s holdings in Vestis were worth $88,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Farther Finance Advisors LLC boosted its stake in shares of Vestis by 176.1% in the 4th quarter. Farther Finance Advisors LLC now owns 5,193 shares of the company’s stock valued at $35,000 after purchasing an additional 3,312 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new position in Vestis during the 4th quarter worth approximately $36,000. EverSource Wealth Advisors LLC increased its position in Vestis by 471.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,456 shares of the company’s stock worth $31,000 after purchasing an additional 4,502 shares in the last quarter. Osaic Holdings Inc. lifted its stake in Vestis by 703.2% in the 2nd quarter. Osaic Holdings Inc. now owns 5,743 shares of the company’s stock valued at $33,000 after purchasing an additional 5,028 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in Vestis by 147.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,006 shares of the company’s stock valued at $53,000 after buying an additional 4,766 shares in the last quarter. Institutional investors and hedge funds own 97.40% of the company’s stock.

Analyst Ratings Changes

VSTS has been the topic of a number of research reports. William Blair raised shares of Vestis from a “market perform” rating to an “outperform” rating in a research note on Tuesday, May 12th. Robert W. Baird increased their price target on Vestis from $10.00 to $14.00 and gave the company a “neutral” rating in a research note on Wednesday, May 13th. Stifel Nicolaus raised their price objective on Vestis from $8.50 to $11.00 and gave the company a “hold” rating in a report on Wednesday, May 13th. Weiss Ratings lowered Vestis from a “sell (d)” rating to a “sell (d-)” rating in a research report on Wednesday, May 13th. Finally, Zacks Research raised Vestis from a “hold” rating to a “strong-buy” rating in a report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $9.50.

Vestis Price Performance

Vestis stock opened at $13.84 on Friday. The stock’s 50 day moving average is $14.14 and its 200 day moving average is $10.53. Vestis Corporation has a one year low of $3.98 and a one year high of $16.90. The firm has a market cap of $1.83 billion, a P/E ratio of -98.82 and a beta of 0.97. The company has a debt-to-equity ratio of 1.44, a current ratio of 2.13 and a quick ratio of 1.69.

Vestis (NYSE:VSTS) last released its earnings results on Tuesday, May 12th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.07. Vestis had a negative net margin of 0.63% and a positive return on equity of 5.27%. The business had revenue of $659.44 million during the quarter, compared to the consensus estimate of $655.32 million. During the same quarter in the prior year, the firm posted ($0.05) EPS. The company’s revenue for the quarter was down .9% compared to the same quarter last year. As a group, research analysts expect that Vestis Corporation will post 0.52 EPS for the current year.

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