Vestis (NYSE:VSTS) Reaches New 52-Week High – Here’s What Happened

Shares of Vestis Corporation (NYSE:VSTS) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $15.28 and last traded at $15.2990, with a volume of 26632 shares. The stock had previously closed at $14.74.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Weiss Ratings lowered Vestis from a “sell (d)” rating to a “sell (d-)” rating in a report on Wednesday, May 13th. Robert W. Baird increased their price objective on Vestis from $10.00 to $14.00 and gave the stock a “neutral” rating in a report on Wednesday, May 13th. Zacks Research raised Vestis from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 10th. Barclays boosted their target price on Vestis from $6.00 to $9.00 and gave the company an “underweight” rating in a research note on Friday, May 15th. Finally, Stifel Nicolaus upped their price target on Vestis from $8.50 to $11.00 and gave the stock a “hold” rating in a research report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $9.50.

Vestis Stock Up 3.7%

The firm’s 50 day simple moving average is $12.81 and its 200-day simple moving average is $9.50. The company has a current ratio of 2.13, a quick ratio of 1.69 and a debt-to-equity ratio of 1.44. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of -110.16 and a beta of 0.98.

Vestis (NYSE:VSTS) last posted its quarterly earnings data on Tuesday, May 12th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.07. The company had revenue of $659.44 million during the quarter, compared to the consensus estimate 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 prior year, the business posted ($0.05) EPS. Equities analysts expect that Vestis Corporation will post 0.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of VSTS. SG Americas Securities LLC grew its stake in Vestis by 1,506.6% in the fourth quarter. SG Americas Securities LLC now owns 295,000 shares of the company’s stock valued at $1,968,000 after purchasing an additional 276,638 shares in the last quarter. Pacific Point Advisors LLC raised its stake in shares of Vestis by 603.8% during the 4th quarter. Pacific Point Advisors LLC now owns 214,686 shares of the company’s stock worth $1,432,000 after purchasing an additional 184,181 shares in the last quarter. QSM Asset Management Ltd boosted its holdings in shares of Vestis by 25.0% in the 4th quarter. QSM Asset Management Ltd now owns 380,072 shares of the company’s stock valued at $2,535,000 after buying an additional 76,036 shares during the last quarter. UBS Group AG boosted its holdings in shares of Vestis by 121.2% in the 4th quarter. UBS Group AG now owns 885,984 shares of the company’s stock valued at $5,910,000 after buying an additional 485,396 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Vestis by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 9,960,651 shares of the company’s stock valued at $66,438,000 after buying an additional 346,736 shares in the last quarter. 97.40% of the stock is owned by institutional investors and hedge funds.

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