Vera Bradley (VRA) Raised to Buy at BidaskClub

BidaskClub upgraded shares of Vera Bradley (NASDAQ:VRA) from a hold rating to a buy rating in a research note issued to investors on Thursday morning.

VRA has been the subject of several other reports. Robert W. Baird set a $11.00 target price on shares of Vera Bradley and gave the company a hold rating in a report on Thursday, December 7th. Cowen reaffirmed a hold rating and set a $12.00 target price on shares of Vera Bradley in a report on Thursday, December 7th. Finally, Zacks Investment Research lowered shares of Vera Bradley from a hold rating to a sell rating in a report on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. Vera Bradley has an average rating of Hold and a consensus price target of $10.40.

Vera Bradley stock opened at $10.19 on Thursday. The firm has a market cap of $361.57, a P/E ratio of 50.95, a PEG ratio of 4.94 and a beta of 0.69. Vera Bradley has a 1-year low of $6.99 and a 1-year high of $12.83.

Vera Bradley (NASDAQ:VRA) last posted its earnings results on Wednesday, March 14th. The textile maker reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.01. The firm had revenue of $132.00 million during the quarter, compared to analyst estimates of $130.02 million. Vera Bradley had a net margin of 1.54% and a return on equity of 7.66%. The business’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.28 EPS. analysts predict that Vera Bradley will post 0.41 EPS for the current year.

In related news, Director Robert J. Hall sold 1,200,000 shares of the business’s stock in a transaction on Monday, March 19th. The shares were sold at an average price of $9.73, for a total value of $11,676,000.00. Following the completion of the sale, the director now owns 63,593 shares of the company’s stock, valued at approximately $618,759.89. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder James Bradley Byrne sold 1,232,605 shares of the business’s stock in a transaction on Monday, March 19th. The stock was sold at an average price of $9.73, for a total transaction of $11,993,246.65. The disclosure for this sale can be found here. 39.60% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Point72 Asset Management L.P. increased its holdings in Vera Bradley by 62.1% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,959,900 shares of the textile maker’s stock worth $26,077,000 after acquiring an additional 1,133,407 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Vera Bradley by 13.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,530,562 shares of the textile maker’s stock worth $22,294,000 after acquiring an additional 303,858 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Vera Bradley by 1.7% during the 4th quarter. Renaissance Technologies LLC now owns 1,782,500 shares of the textile maker’s stock worth $21,711,000 after purchasing an additional 29,000 shares during the last quarter. Royce & Associates LP boosted its stake in Vera Bradley by 27.4% during the 4th quarter. Royce & Associates LP now owns 465,600 shares of the textile maker’s stock worth $5,671,000 after purchasing an additional 100,089 shares during the last quarter. Finally, State Street Corp boosted its stake in Vera Bradley by 3.3% during the 2nd quarter. State Street Corp now owns 448,415 shares of the textile maker’s stock worth $4,390,000 after purchasing an additional 14,529 shares during the last quarter. 62.58% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Vera Bradley (NASDAQ:VRA)

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