Vera Bradley, Inc. (NASDAQ:VRA) was upgraded by stock analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued on Saturday.
A number of other equities research analysts also recently issued reports on VRA. FBR & Co set a $12.00 price target on shares of Vera Bradley and gave the company a “buy” rating in a research note on Monday, August 28th. Jefferies Group LLC reissued a “hold” rating and issued a $11.00 price target on shares of Vera Bradley in a research note on Thursday, October 12th. KeyCorp reissued a “hold” rating on shares of Vera Bradley in a research note on Friday, August 25th. Zacks Investment Research raised shares of Vera Bradley from a “hold” rating to a “buy” rating and set a $8.00 price target on the stock in a research note on Wednesday, November 1st. Finally, B. Riley reissued a “buy” rating on shares of Vera Bradley in a research note on Wednesday, November 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. Vera Bradley currently has an average rating of “Hold” and an average target price of $10.33.
Vera Bradley (NASDAQ VRA) opened at $7.49 on Friday. The firm has a market cap of $270.79, a PE ratio of 14.40, a price-to-earnings-growth ratio of 1.59 and a beta of 1.01. Vera Bradley has a fifty-two week low of $6.99 and a fifty-two week high of $15.86.
Vera Bradley (NASDAQ:VRA) last posted its earnings results on Wednesday, August 30th. The textile maker reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.03. The company had revenue of $112.42 million for the quarter, compared to analyst estimates of $111.72 million. Vera Bradley had a net margin of 2.21% and a return on equity of 6.64%. Vera Bradley’s revenue was down 5.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.17 EPS. research analysts expect that Vera Bradley will post 0.47 EPS for the current year.
In related news, major shareholder Michael C. Ray sold 237,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $8.23, for a total transaction of $1,954,625.00. Following the sale, the insider now directly owns 120,712 shares of the company’s stock, valued at approximately $993,459.76. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kimberly F. Colby sold 170,000 shares of the company’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $8.47, for a total transaction of $1,439,900.00. Following the sale, the executive vice president now directly owns 21,655 shares in the company, valued at $183,417.85. The disclosure for this sale can be found here. 39.60% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Teton Advisors Inc. purchased a new stake in Vera Bradley during the 2nd quarter worth approximately $102,000. LMR Partners LLP purchased a new stake in Vera Bradley during the 2nd quarter worth approximately $115,000. Wells Fargo & Company MN increased its stake in Vera Bradley by 3.4% during the 1st quarter. Wells Fargo & Company MN now owns 13,408 shares of the textile maker’s stock worth $125,000 after buying an additional 444 shares during the period. Voya Investment Management LLC increased its stake in Vera Bradley by 29.4% during the 2nd quarter. Voya Investment Management LLC now owns 13,261 shares of the textile maker’s stock worth $130,000 after buying an additional 3,014 shares during the period. Finally, Texas Permanent School Fund increased its stake in Vera Bradley by 1.2% during the 2nd quarter. Texas Permanent School Fund now owns 13,789 shares of the textile maker’s stock worth $135,000 after buying an additional 157 shares during the period. 60.53% of the stock is currently owned by hedge funds and other institutional investors.
About Vera Bradley
Vera Bradley, Inc (Vera Bradley) is a designer of women’s handbags, accessories, luggage and travel items, eyewear, and stationery and gifts. The Company’s segments include Direct and Indirect. The Company offers various products, including bags, travel, home and accessories. Its accessories include fashion accessories, such as wallets, eyeglass cases, jewelry, and scarves and various technology accessories.
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