BidaskClub downgraded shares of Vera Bradley, Inc. (NASDAQ:VRA) from a hold rating to a sell rating in a research note released on Wednesday.
Several other analysts also recently weighed in on VRA. Zacks Investment Research raised Vera Bradley from a sell rating to a hold rating in a report on Wednesday, August 2nd. Jefferies Group LLC reissued a hold rating and issued a $10.00 target price on shares of Vera Bradley in a report on Friday, July 14th. KeyCorp reissued a hold rating on shares of Vera Bradley in a report on Friday, August 25th. Finally, FBR & Co reissued an outperform rating and issued a $12.00 target price on shares of Vera Bradley in a report on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. Vera Bradley has an average rating of Hold and a consensus target price of $10.80.
Vera Bradley (NASDAQ:VRA) traded down 0.87% during midday trading on Wednesday, reaching $7.95. The company’s stock had a trading volume of 163,485 shares. Vera Bradley has a 1-year low of $7.70 and a 1-year high of $15.86. The stock’s 50-day moving average price is $8.73 and its 200 day moving average price is $9.01. The firm has a market capitalization of $285.92 million, a PE ratio of 28.09 and a beta of 0.86.
Vera Bradley (NASDAQ:VRA) last released its quarterly earnings data on Wednesday, August 30th. The textile maker reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.03. Vera Bradley had a return on equity of 6.64% and a net margin of 2.21%. The business had revenue of $112.42 million during the quarter, compared to analysts’ expectations of $111.72 million. During the same period in the prior year, the firm posted $0.17 EPS. The business’s quarterly revenue was down 5.7% compared to the same quarter last year. Equities analysts anticipate that Vera Bradley will post $0.47 EPS for the current fiscal year.
In other Vera Bradley news, 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 completion of the sale, the executive vice president now directly owns 21,655 shares of the company’s stock, valued at approximately $183,417.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $1,954,625.00. Following the sale, the insider now directly owns 120,712 shares of the company’s stock, valued at $993,459.76. The disclosure for this sale can be found here. 39.60% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of VRA. Wells Fargo & Company MN raised 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 valued at $125,000 after acquiring an additional 444 shares during the last quarter. State Board of Administration of Florida Retirement System raised its stake in Vera Bradley by 0.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 19,793 shares of the textile maker’s stock valued at $184,000 after acquiring an additional 50 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Vera Bradley by 18.6% during the 1st quarter. Bank of New York Mellon Corp now owns 1,190,086 shares of the textile maker’s stock valued at $11,079,000 after acquiring an additional 186,986 shares during the last quarter. Comerica Bank increased its position in Vera Bradley by 1.6% during the 1st quarter. Comerica Bank now owns 21,265 shares of the textile maker’s stock worth $197,000 after purchasing an additional 335 shares during the period. Finally, Karp Capital Management Corp acquired a new position in Vera Bradley during the 1st quarter worth approximately $243,000. 60.60% of the stock is owned by hedge funds and other institutional investors.
Vera Bradley Company Profile
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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