BidaskClub upgraded shares of Vera Bradley, Inc. (NASDAQ:VRA) from a strong sell rating to a sell rating in a research report report published on Saturday morning.
VRA has been the subject of several other reports. FBR & Co set a $12.00 target price on Vera Bradley and gave the stock a buy rating in a report on Monday, August 28th. KeyCorp reiterated a hold rating on shares of Vera Bradley in a report on Friday, August 25th. Jefferies Group LLC reiterated a hold rating and issued a $11.00 target price on shares of Vera Bradley in a report on Thursday, October 12th. Zacks Investment Research upgraded Vera Bradley from a hold rating to a buy rating and set a $8.00 target price for the company in a report on Wednesday, November 1st. Finally, B. Riley reiterated a buy rating on shares of Vera Bradley in a report on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $10.33.
Shares of Vera Bradley (VRA) opened at $7.53 on Friday. Vera Bradley has a 1-year low of $6.99 and a 1-year high of $15.86. The firm has a market capitalization of $270.79, a price-to-earnings ratio of 14.40, a price-to-earnings-growth ratio of 1.59 and a beta of 1.01.
Vera Bradley (NASDAQ:VRA) last issued its earnings results on Wednesday, August 30th. The textile maker reported $0.13 earnings per share 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 business earned $0.17 EPS. The business’s revenue for the quarter was down 5.7% compared to the same quarter last year. analysts expect that Vera Bradley will post 0.47 EPS for the current year.
In related news, major shareholder Michael C. Ray sold 237,500 shares of the company’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $8.23, for a total transaction of $1,954,625.00. Following the completion of the sale, the insider now directly owns 120,712 shares in the company, valued at approximately $993,459.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kimberly F. Colby sold 170,000 shares of the company’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $8.47, for a total value of $1,439,900.00. Following the sale, the executive vice president now owns 21,655 shares of the company’s stock, valued at $183,417.85. The disclosure for this sale can be found here. Corporate insiders own 39.60% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of VRA. Teton Advisors Inc. acquired a new position in Vera Bradley during the 2nd quarter valued at about $102,000. LMR Partners LLP acquired a new position in Vera Bradley during the 2nd quarter valued at about $115,000. Voya Investment Management LLC increased its position in Vera Bradley by 29.4% during the 2nd quarter. Voya Investment Management LLC now owns 13,261 shares of the textile maker’s stock valued at $130,000 after buying an additional 3,014 shares in the last quarter. Wells Fargo & Company MN increased its position 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 buying an additional 444 shares in the last quarter. Finally, Texas Permanent School Fund increased its position in Vera Bradley by 1.2% during the 2nd quarter. Texas Permanent School Fund now owns 13,789 shares of the textile maker’s stock valued at $135,000 after buying an additional 157 shares in the last quarter. Hedge funds and other institutional investors own 59.26% of the company’s stock.
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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