Vera Bradley’s Buy Rating Reaffirmed at Jefferies Group (VRA)
Vera Bradley (NYSE:VRA)‘s stock had its “buy” rating reiterated by equities research analysts at Jefferies Group in a research note issued to investors on Thursday, Analyst Ratings Network reports. They currently have a $29.00 price target on the stock, down from their previous price target of $34.00. Jefferies Group’s price target suggests a potential upside of 49.10% from the company’s current price.
The analysts wrote, “VRA posted strong 2Q EPS results above expectations in a challenging retail environment. However, this good news was offset by a very negative outlook for the balance of FY’14. Looking ahead, we believe the brand remains differentiated, valuation is compelling, and the selection of a new CEO and stability in the management team should provide positive catalysts for the stock. Maintain Buy rating, taking PT to $29.”
Other equities research analysts have also recently issued reports about the stock. Analysts at KeyCorp cut their price target on shares of Vera Bradley (NYSE:VRA) from $31.00 to $27.00 in a research note to investors on Friday, September 6th. They now have a “buy” rating on the stock. Separately, analysts at Zacks upgraded shares of Vera Bradley (NYSE:VRA) from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, August 6th. They now have a $23.00 price target on the stock. Finally, analysts at TheStreet downgraded shares of Vera Bradley (NYSE:VRA) from a “hold” rating to a “sell” rating in a research note to investors on Friday, July 5th.
Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. Vera Bradley currently has a consensus rating of “Hold” and an average target price of $25.93.
Shares of Vera Bradley (NYSE:VRA) traded down 1.80% during mid-day trading on Thursday, hitting $19.10. The stock had a trading volume of 2,062,810 shares. Vera Bradley has a one year low of $18.52 and a one year high of $31.00. The stock has a 50-day moving average of $21.15 and a 200-day moving average of $22.37. The company has a market cap of $775.5 million and a price-to-earnings ratio of 12.05.
Vera Bradley (NYSE:VRA) last posted its quarterly earnings results on Wednesday, September 11th. The company reported $0.37 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.32 by $0.05. The company had revenue of $125.40 million for the quarter, compared to the consensus estimate of $124.51 million. During the same quarter last year, the company posted $0.33 earnings per share. Vera Bradley’s revenue was up 2.0% compared to the same quarter last year. On average, analysts predict that Vera Bradley will post $1.71 earnings per share for the current fiscal year.
Vera Bradley, Inc (NYSE:VRA) is a designer, producer, marketer, and retailer of functional accessories for women.
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