Vera Bradley (NASDAQ:VRA) Upgraded by Wall Street Zen to Buy Rating

Vera Bradley (NASDAQ:VRA) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Sunday.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vera Bradley in a research report on Monday, June 15th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce”.

Vera Bradley Stock Up 5.2%

Shares of NASDAQ VRA traded up $0.20 on Friday, hitting $4.03. The company had a trading volume of 156,882 shares, compared to its average volume of 310,103. Vera Bradley has a 12-month low of $1.39 and a 12-month high of $4.39. The firm has a market capitalization of $114.61 million, a P/E ratio of -5.84 and a beta of 1.57. The business has a 50 day moving average of $3.64 and a two-hundred day moving average of $3.23.

Vera Bradley (NASDAQ:VRA) last announced its earnings results on Thursday, June 11th. The textile maker reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.24. The business had revenue of $55.70 million for the quarter, compared to the consensus estimate of $49.12 million. Vera Bradley had a negative return on equity of 6.66% and a negative net margin of 7.02%. On average, sell-side analysts anticipate that Vera Bradley will post -0.28 earnings per share for the current year.

Insider Buying and Selling at Vera Bradley

In other Vera Bradley news, Director Andrew Meslow bought 24,926 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were acquired at an average cost of $3.73 per share, with a total value of $92,973.98. Following the completion of the transaction, the director owned 650,000 shares in the company, valued at $2,424,500. The trade was a 3.99% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 14.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Vera Bradley

A number of hedge funds have recently bought and sold shares of the business. Impala Asset Management LLC bought a new position in Vera Bradley during the 4th quarter valued at $976,000. Saba Capital Management L.P. bought a new stake in shares of Vera Bradley in the 1st quarter worth about $916,000. Marshall Wace LLP increased its position in shares of Vera Bradley by 133.2% in the 4th quarter. Marshall Wace LLP now owns 467,127 shares of the textile maker’s stock worth $1,130,000 after purchasing an additional 266,785 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Vera Bradley by 31.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,038,807 shares of the textile maker’s stock valued at $3,283,000 after purchasing an additional 249,161 shares in the last quarter. Finally, Nomura Holdings Inc. raised its stake in shares of Vera Bradley by 15.2% in the 3rd quarter. Nomura Holdings Inc. now owns 1,846,432 shares of the textile maker’s stock valued at $3,711,000 after purchasing an additional 243,900 shares in the last quarter. Institutional investors and hedge funds own 59.88% of the company’s stock.

About Vera Bradley

Vera Bradley, Inc (NASDAQ: VRA) is a lifestyle and accessories designer specializing in colorful, patterned handbags, luggage, travel accessories and coordinated home décor. Founded in 1982 by Barbara Bradley Baekgaard and Patricia R. Miller, the company first gained recognition for its quilted cotton bags sold at craft shows before expanding into an established fashion brand. Headquartered in Fort Wayne, Indiana, Vera Bradley has built a reputation for distinctive prints and functional design aimed primarily at women’s casual and travel needs.

The company’s product portfolio includes day bags, weekenders, backpacks, wallets, and organizational cases, as well as an expanding range of travel gear such as rolling luggage and travel pouches.