Healthcare of Ontario Pension Plan Trust Fund Purchases 437,965 Shares of Vestis Corporation $VSTS

Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Vestis Corporation (NYSE:VSTS) by 69.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,072,081 shares of the company’s stock after purchasing an additional 437,965 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Vestis were worth $8,427,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC raised its position in shares of Vestis by 471.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,456 shares of the company’s stock valued at $31,000 after purchasing an additional 4,502 shares during the period. Osaic Holdings Inc. lifted its stake in shares of Vestis by 703.2% during the 2nd quarter. Osaic Holdings Inc. now owns 5,743 shares of the company’s stock valued at $33,000 after buying an additional 5,028 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Vestis by 176.1% in the 4th quarter. Farther Finance Advisors LLC now owns 5,193 shares of the company’s stock worth $35,000 after buying an additional 3,312 shares during the period. Nisa Investment Advisors LLC boosted its holdings in Vestis by 147.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,175 shares of the company’s stock worth $35,000 after buying an additional 3,082 shares during the period. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in Vestis in the 4th quarter worth $36,000. 97.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on VSTS shares. Barclays boosted their price objective on Vestis from $6.00 to $9.00 and gave the company an “underweight” rating in a research report on Friday, May 15th. Weiss Ratings cut Vestis from a “sell (d)” rating to a “sell (d-)” rating in a research report on Wednesday, May 13th. Stifel Nicolaus lifted their target price on Vestis from $8.50 to $11.00 and gave the company a “hold” rating in a research note on Wednesday, May 13th. Zacks Research raised Vestis from a “hold” rating to a “strong-buy” rating in a report on Friday, July 10th. Finally, The Goldman Sachs Group restated a “sell” rating and issued a $7.50 price target on shares of Vestis in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Vestis presently has a consensus rating of “Reduce” and an average price target of $9.50.

Vestis Stock Performance

Shares of NYSE VSTS opened at $15.32 on Wednesday. The company has a market cap of $2.02 billion, a P/E ratio of -109.42 and a beta of 0.98. Vestis Corporation has a 52-week low of $3.98 and a 52-week high of $16.90. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.69 and a current ratio of 2.13. The firm’s fifty day moving average is $13.80 and its two-hundred day moving average is $10.15.

Vestis (NYSE:VSTS) last released its quarterly earnings data on Tuesday, May 12th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.09 by $0.07. The business 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 business’s revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.05) EPS. As a group, analysts anticipate that Vestis Corporation will post 0.52 EPS for the current fiscal year.

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.