Vera Bradley Downgraded by Robert W. Baird to Neutral (VRA)

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Vera Bradley (NYSE: VRA) was downgraded by stock analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a report issued on Thursday, TheFlyOnTheWall.com reports. They currently have a $24.00 price target on the stock, down from their previous price target of $30.00. Robert W. Baird’s price target suggests a potential upside of 15.94% from the company’s current price.

A number of other analysts have also recently weighed in on VRA. Analysts at Piper Jaffray downgraded shares of Vera Bradley from an “overweight” rating to a “neutral” rating in a research note to investors on Thursday. They now have a $24.00 price target on the stock, down previously from $32.00. Separately, analysts at Standpoint Research initiated coverage on shares of Vera Bradley in a research note to investors on Tuesday, May 21st. They set a “buy” rating and a $35.00 price target on the stock. Finally, analysts at Zacks downgraded shares of Vera Bradley from an “outperform” rating to a “neutral” rating in a research note to investors on Monday, March 18th. They now have a $28.10 price target on the stock.

One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $28.15.

Shares of Vera Bradley (NYSE: VRA) opened at 20.70 on Thursday. Vera Bradley has a one year low of $18.91 and a one year high of $31.00. The stock’s 50-day moving average is currently $23.05. The company has a market cap of $840.5 million and a P/E ratio of 12.18.

Vera Bradley (NYSE: VRA) last released its earnings data on Wednesday, June 5th. The company reported $0.23 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.21 by $0.02. The company had revenue of $123.00 million for the quarter, compared to the consensus estimate of $121.01 million. During the same quarter in the prior year, the company posted $0.31 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. Vera Bradley has set its Q2 guidance at $0.31-0.33 EPS and its FY14 guidance at $1.74-1.78 EPS. On average, analysts predict that Vera Bradley will post $1.81 earnings per share for the current fiscal year.

Vera Bradley, Inc. (NYSE: VRA) is a designer, producer, marketer, and retailer of functional accessories for women.

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