Vestis Corporation $VSTS Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC decreased its stake in Vestis Corporation (NYSE:VSTS) by 11.3% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 509,100 shares of the company’s stock after selling 64,700 shares during the quarter. Renaissance Technologies LLC’s holdings in Vestis were worth $4,002,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Corvex Management LP raised its holdings in shares of Vestis by 5.4% during the 4th quarter. Corvex Management LP now owns 19,813,963 shares of the company’s stock valued at $132,159,000 after buying an additional 1,010,064 shares during the period. Vanguard Group Inc. boosted its holdings in Vestis by 3.6% in the 4th quarter. Vanguard Group Inc. now owns 9,960,651 shares of the company’s stock worth $66,438,000 after acquiring an additional 346,736 shares during the period. Royal Bank of Canada grew its position in Vestis by 1,520.5% in the fourth quarter. Royal Bank of Canada now owns 5,688,399 shares of the company’s stock valued at $37,942,000 after acquiring an additional 5,337,380 shares in the last quarter. AQR Capital Management LLC grew its position in Vestis by 19.8% in the second quarter. AQR Capital Management LLC now owns 5,593,129 shares of the company’s stock valued at $32,049,000 after acquiring an additional 923,459 shares in the last quarter. Finally, Greenstone Partners & Co. LLC purchased a new stake in shares of Vestis during the fourth quarter valued at approximately $33,979,000. Institutional investors and hedge funds own 97.40% of the company’s stock.

Vestis Trading Up 2.5%

NYSE VSTS opened at $14.20 on Friday. Vestis Corporation has a 12 month low of $3.98 and a 12 month high of $16.90. The company has a debt-to-equity ratio of 1.44, a current ratio of 2.13 and a quick ratio of 1.69. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of -101.44 and a beta of 0.97. The company’s fifty day moving average price is $14.16 and its two-hundred day moving average price is $10.56.

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. The Goldman Sachs Group reissued a “sell” rating and set a $7.50 target price on shares of Vestis in a research report on Wednesday, May 13th. Stifel Nicolaus boosted their price objective on shares of Vestis from $8.50 to $11.00 and gave the stock a “hold” rating in a report on Wednesday, May 13th. William Blair raised shares of Vestis from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 12th. Zacks Research upgraded Vestis from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 10th. Finally, Weiss Ratings lowered Vestis from a “sell (d)” rating to a “sell (d-)” rating in a research report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $9.50.

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.