Vera Bradley (NASDAQ:VRA) Cut to Sell at BidaskClub

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Vera Bradley (NASDAQ:VRA) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Friday, BidAskClub reports.

A number of other analysts have also recently weighed in on VRA. ValuEngine cut Zymeworks from a “buy” rating to a “hold” rating in a research report on Saturday, May 18th. Zacks Investment Research cut Zai Lab from a “buy” rating to a “hold” rating in a research report on Saturday, June 15th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $11.50.

Shares of NASDAQ:VRA opened at $11.38 on Friday. Vera Bradley has a fifty-two week low of $7.94 and a fifty-two week high of $17.38. The business has a 50-day moving average of $11.47. The firm has a market capitalization of $381.83 million, a PE ratio of 19.29 and a beta of 0.86. The company has a quick ratio of 2.53, a current ratio of 4.15 and a debt-to-equity ratio of 0.41.

Vera Bradley (NASDAQ:VRA) last announced its quarterly earnings results on Wednesday, June 5th. The textile maker reported ($0.07) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.07). Vera Bradley had a return on equity of 6.76% and a net margin of 4.69%. The company had revenue of $91.00 million during the quarter, compared to analysts’ expectations of $87.95 million. During the same quarter in the previous year, the firm earned ($0.04) earnings per share. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, equities analysts forecast that Vera Bradley will post 0.7 earnings per share for the current fiscal year.

In other news, major shareholder Bradley Baekgaard Fami Barbara sold 16,412 shares of Vera Bradley stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $11.36, for a total value of $186,440.32. Following the transaction, the insider now directly owns 139,740 shares in the company, valued at $1,587,446.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder James Bradley Byrne sold 35,000 shares of Vera Bradley stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $11.34, for a total value of $396,900.00. The disclosure for this sale can be found here. Insiders sold 374,702 shares of company stock worth $4,364,154 over the last quarter. 27.30% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of VRA. Ancora Advisors LLC increased its stake in Vera Bradley by 137.8% during the fourth quarter. Ancora Advisors LLC now owns 548,508 shares of the textile maker’s stock valued at $4,700,000 after acquiring an additional 317,895 shares during the period. American Century Companies Inc. bought a new position in Vera Bradley during the fourth quarter valued at about $2,716,000. Millennium Management LLC increased its stake in Vera Bradley by 41.9% during the fourth quarter. Millennium Management LLC now owns 781,190 shares of the textile maker’s stock valued at $6,695,000 after acquiring an additional 230,511 shares during the period. Deutsche Bank AG increased its stake in Vera Bradley by 320.6% during the fourth quarter. Deutsche Bank AG now owns 210,852 shares of the textile maker’s stock valued at $1,805,000 after acquiring an additional 160,719 shares during the period. Finally, Marshall Wace LLP bought a new position in Vera Bradley during the first quarter valued at about $1,893,000. Institutional investors and hedge funds own 66.98% of the company’s stock.

Vera Bradley Company Profile

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 two segments, Direct and Indirect. The company offers totes, crossbodies, satchels, clutches, backpacks, baby bags, and lunch bags; accessories, including wallets, wristlets, eyeglass cases, scarves, and various technology accessories; and travel products, such as rolling luggage, cosmetics, and travel and packing accessories, as well as travel bags comprising duffel and weekend bags.

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