UBS Group AG Buys 485,396 Shares of Vestis Corporation $VSTS

UBS Group AG raised its stake in Vestis Corporation (NYSE:VSTS) by 121.2% during the fourth quarter, Holdings Channel reports. The fund owned 885,984 shares of the company’s stock after buying an additional 485,396 shares during the period. UBS Group AG’s holdings in Vestis were worth $5,910,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Sanctuary Advisors LLC bought a new position in Vestis during the fourth quarter valued at $93,000. Vanguard Group Inc. raised 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 during the period. Merit Financial Group LLC bought a new stake in shares of Vestis in the fourth quarter valued at $133,000. Farther Finance Advisors LLC lifted its position in shares of Vestis by 176.1% during the 4th quarter. Farther Finance Advisors LLC now owns 5,193 shares of the company’s stock valued at $35,000 after buying an additional 3,312 shares during the last quarter. Finally, Quotient Wealth Partners LLC purchased a new position in shares of Vestis during the 4th quarter valued at $76,000. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Vestis Stock Down 1.4%

Shares of NYSE VSTS opened at $11.68 on Thursday. 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 company has a market cap of $1.54 billion, a P/E ratio of -83.41 and a beta of 0.85. Vestis Corporation has a 52 week low of $3.98 and a 52 week high of $12.60. The business has a 50-day simple moving average of $9.02 and a two-hundred day simple moving average of $7.55.

Vestis (NYSE:VSTS) last announced its quarterly earnings results on Tuesday, May 12th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.07. Vestis had a positive return on equity of 5.27% and a negative net margin of 0.63%.The firm had revenue of $659.44 million for the quarter, compared to analysts’ expectations of $655.32 million. During the same period in the prior year, the business posted ($0.05) earnings per share. The company’s revenue was down .9% on a year-over-year basis. Research analysts anticipate that Vestis Corporation will post 0.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Robert W. Baird lifted 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. Weiss Ratings downgraded shares of Vestis from a “sell (d)” rating to a “sell (d-)” rating in a research note on Wednesday, May 13th. Barclays upped their price target on shares of Vestis from $6.00 to $9.00 and gave the company an “underweight” rating in a research note on Friday, May 15th. William Blair raised shares of Vestis from a “market perform” rating to an “outperform” rating in a report on Tuesday, May 12th. Finally, The Goldman Sachs Group reiterated a “sell” rating and issued a $7.50 price objective 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 company. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price 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.