Vestis Corporation $VSTS Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC decreased its stake in shares of Vestis Corporation (NYSE:VSTS) by 11.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 509,100 shares of the company’s stock after selling 64,700 shares during the period. Renaissance Technologies LLC owned 0.39% of Vestis worth $4,002,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in VSTS. Corvex Management LP boosted its stake in shares of Vestis by 5.4% during the fourth quarter. Corvex Management LP now owns 19,813,963 shares of the company’s stock valued at $132,159,000 after acquiring an additional 1,010,064 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Vestis by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 9,960,651 shares of the company’s stock worth $66,438,000 after purchasing an additional 346,736 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Vestis by 1,520.5% during the 4th quarter. Royal Bank of Canada now owns 5,688,399 shares of the company’s stock worth $37,942,000 after purchasing an additional 5,337,380 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Vestis by 19.8% during the second quarter. AQR Capital Management LLC now owns 5,593,129 shares of the company’s stock worth $32,049,000 after buying 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 worth about $33,979,000. 97.40% of the stock is owned by institutional investors and hedge funds.

Vestis Stock Performance

NYSE VSTS opened at $14.20 on Friday. The firm has a market capitalization of $1.88 billion, a P/E ratio of -101.44 and a beta of 0.97. Vestis Corporation has a 1-year low of $3.98 and a 1-year 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 business’s 50-day simple moving average is $14.16 and its 200-day simple moving average is $10.56.

Vestis (NYSE:VSTS) last posted its earnings results on Tuesday, May 12th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.07. The firm 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 revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.05) EPS. Equities analysts predict that Vestis Corporation will post 0.52 EPS for the current year.

Analyst Upgrades and Downgrades

VSTS has been the subject of a number of analyst reports. Weiss Ratings lowered shares of Vestis from a “sell (d)” rating to a “sell (d-)” rating in a research report on Wednesday, May 13th. The Goldman Sachs Group reiterated a “sell” rating and issued a $7.50 price target on shares of Vestis in a report on Wednesday, May 13th. Stifel Nicolaus increased their price target on Vestis from $8.50 to $11.00 and gave the stock a “hold” rating in a research note on Wednesday, May 13th. Barclays upped 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, William Blair upgraded shares of Vestis from a “market perform” rating to an “outperform” rating in a report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average 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.