Vera Bradley (NASDAQ:VRA) Upgraded at StockNews.com

StockNews.com upgraded shares of Vera Bradley (NASDAQ:VRA) from a buy rating to a strong-buy rating in a report released on Saturday.

Vera Bradley Stock Performance

NASDAQ VRA opened at $6.38 on Friday. The company has a market capitalization of $196.44 million, a price-to-earnings ratio of 25.52 and a beta of 1.89. The company’s 50-day simple moving average is $7.05 and its two-hundred day simple moving average is $7.25. Vera Bradley has a one year low of $4.60 and a one year high of $8.35.

Vera Bradley (NASDAQ:VRA) last posted its earnings results on Wednesday, March 13th. The textile maker reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.04). The business had revenue of $133.27 million for the quarter, compared to analysts’ expectations of $136.06 million. Vera Bradley had a net margin of 1.66% and a return on equity of 6.69%. Equities analysts expect that Vera Bradley will post 0.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new stake in Vera Bradley during the 3rd quarter worth approximately $44,000. Harbor Capital Advisors Inc. grew its position in Vera Bradley by 73.7% during the 4th quarter. Harbor Capital Advisors Inc. now owns 7,174 shares of the textile maker’s stock worth $55,000 after purchasing an additional 3,044 shares during the last quarter. LSV Asset Management purchased a new stake in Vera Bradley during the 4th quarter worth approximately $56,000. Citigroup Inc. purchased a new stake in Vera Bradley during the 2nd quarter worth approximately $50,000. Finally, California State Teachers Retirement System purchased a new stake in Vera Bradley during the 2nd quarter worth approximately $56,000. Hedge funds and other institutional investors own 59.88% of the company’s stock.

About Vera Bradley

Vera Bradley, Inc, together with its subsidiaries, designs, manufactures, and sells women's handbags, luggage and travel items, fashion and home accessories, and gifts. It operates through three segments: Vera Bradley Direct, Vera Bradley Indirect, and Pura Vida. The company offers bag products, such as totes, crossbodies, satchels, clutches, backpacks, baby bags, and lunch bags; accessories, including ID holders, lanyards, wallets, wristlets, eyewear, scarves, hair accessories, and various technology accessories; bracelets, rings, and necklaces under Pura Vida brand name; and travel products consisting of rolling luggage, cosmetics, and travel and packing accessories, as well as travel bags comprising duffel and weekend bags.