Vera Bradley (NASDAQ:VRA) Announces Quarterly Earnings Results, Misses Estimates By $0.02 EPS

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Vera Bradley (NASDAQ:VRA) issued its quarterly earnings results on Wednesday. The textile maker reported $0.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.02), Briefing.com reports. Vera Bradley had a return on equity of 6.57% and a net margin of 3.82%. The business had revenue of $119.79 million during the quarter, compared to analyst estimates of $117.35 million. During the same quarter last year, the company posted $0.26 EPS. Vera Bradley’s quarterly revenue was up 5.4% compared to the same quarter last year. Vera Bradley updated its Q3 2020 guidance to $0.16-0.20 EPS and its FY 2020 guidance to $0.86-0.93 EPS.

Vera Bradley stock opened at $8.85 on Friday. The company has a current ratio of 4.15, a quick ratio of 2.53 and a debt-to-equity ratio of 0.41. Vera Bradley has a 12 month low of $7.94 and a 12 month high of $17.38. The stock’s 50 day simple moving average is $10.68 and its two-hundred day simple moving average is $11.40. The firm has a market cap of $302.79 million, a PE ratio of 16.09 and a beta of 0.86.

Several brokerages recently weighed in on VRA. Zacks Investment Research reiterated a “buy” rating and issued a $12.00 price target on shares of Vera Bradley in a report on Saturday, June 15th. ValuEngine downgraded shares of Vera Bradley from a “hold” rating to a “sell” rating in a report on Thursday. BidaskClub upgraded shares of Vera Bradley from a “sell” rating to a “hold” rating in a report on Saturday, August 31st. Finally, Telsey Advisory Group cut their price target on shares of Vera Bradley from $13.00 to $10.00 and set a “market perform” rating on the stock in a report on Thursday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. Vera Bradley presently has an average rating of “Hold” and an average price target of $11.00.

In other Vera Bradley news, insider Anne Marie Ray sold 70,000 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $11.57, for a total value of $809,900.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Joan B. Hall sold 57,781 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $10.82, for a total value of $625,190.42. The disclosure for this sale can be found here. In the last 90 days, insiders sold 279,731 shares of company stock worth $3,348,955. Insiders own 27.30% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Acadian Asset Management LLC lifted its position in shares of Vera Bradley by 15.5% during the 2nd quarter. Acadian Asset Management LLC now owns 723,580 shares of the textile maker’s stock valued at $8,682,000 after buying an additional 96,866 shares in the last quarter. Ancora Advisors LLC lifted its position in shares of Vera Bradley by 58.8% during the 2nd quarter. Ancora Advisors LLC now owns 509,151 shares of the textile maker’s stock valued at $6,110,000 after buying an additional 188,477 shares in the last quarter. Royce & Associates LP lifted its position in shares of Vera Bradley by 6.3% during the 1st quarter. Royce & Associates LP now owns 386,047 shares of the textile maker’s stock valued at $5,115,000 after buying an additional 22,756 shares in the last quarter. Spark Investment Management LLC lifted its position in shares of Vera Bradley by 3.4% during the 1st quarter. Spark Investment Management LLC now owns 330,329 shares of the textile maker’s stock valued at $4,376,000 after buying an additional 11,014 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Vera Bradley by 1.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 309,945 shares of the textile maker’s stock valued at $3,719,000 after buying an additional 5,159 shares in the last quarter. Hedge funds and other institutional investors own 66.70% 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 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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Earnings History for Vera Bradley (NASDAQ:VRA)

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