1,262,172 Shares in Vestis Corporation $VSTS Purchased by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. purchased a new position in shares of Vestis Corporation (NYSE:VSTS) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 1,262,172 shares of the company’s stock, valued at approximately $8,419,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its holdings in Vestis by 147.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,175 shares of the company’s stock worth $35,000 after purchasing an additional 3,082 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in Vestis by 176.1% during the fourth quarter. Farther Finance Advisors LLC now owns 5,193 shares of the company’s stock worth $35,000 after purchasing an additional 3,312 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Vestis by 471.9% during the second 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 during the last quarter. Osaic Holdings Inc. boosted its holdings in Vestis by 703.2% during the second quarter. Osaic Holdings Inc. now owns 5,743 shares of the company’s stock worth $33,000 after purchasing an additional 5,028 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in Vestis by 147.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,006 shares of the company’s stock worth $53,000 after purchasing an additional 4,766 shares during the last quarter. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

Vestis Stock Up 0.1%

VSTS opened at $11.75 on Monday. The company has a quick ratio of 1.69, a current ratio of 2.13 and a debt-to-equity ratio of 1.44. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of -83.89 and a beta of 0.85. Vestis Corporation has a twelve month low of $3.98 and a twelve month high of $12.60. The company’s 50-day moving average price is $9.18 and its two-hundred day moving average price is $7.64.

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. The firm had revenue of $659.44 million for the quarter, compared to analysts’ expectations of $655.32 million. Vestis had a negative net margin of 0.63% and a positive return on equity of 5.27%. The company’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.05) earnings per share. As a group, equities analysts expect that Vestis Corporation will post 0.52 earnings per share for the current year.

Analysts Set New Price Targets

VSTS has been the topic of several analyst reports. Weiss Ratings cut shares of Vestis from a “sell (d)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. William Blair upgraded shares of Vestis from a “market perform” rating to an “outperform” rating in a report on Tuesday, May 12th. Stifel Nicolaus boosted their price target on shares of Vestis from $8.50 to $11.00 and gave the stock a “hold” rating in a report on Wednesday, May 13th. Robert W. Baird boosted their target price on shares of Vestis from $10.00 to $14.00 and gave the company a “neutral” rating in a research note on Wednesday, May 13th. Finally, The Goldman Sachs Group reiterated a “sell” rating and issued a $7.50 target price on shares of Vestis in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $9.50.

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.