KeyCorp Reiterates “Hold” Rating for Vera Bradley Inc. (VRA)
Vera Bradley Inc. (NASDAQ:VRA)‘s stock had its “hold” rating reiterated by investment analysts at KeyCorp in a note issued to investors on Thursday.
A number of other research analysts also recently commented on the company. Zacks Investment Research downgraded Vera Bradley from a “hold” rating to a “sell” rating in a research note on Tuesday, September 6th. Robert W. Baird restated a “neutral” rating and set a $18.00 price objective on shares of Vera Bradley in a research note on Sunday, September 4th. Cowen and Company restated a “market perform” rating and set a $18.00 price objective on shares of Vera Bradley in a research note on Sunday, September 4th. Finally, Wunderlich lowered their price objective on Vera Bradley from $24.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, August 11th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. Vera Bradley has a consensus rating of “Hold” and an average price target of $18.75.
Vera Bradley (NASDAQ:VRA) traded down 0.34% during midday trading on Thursday, reaching $14.74. The company’s stock had a trading volume of 336,622 shares. Vera Bradley has a 1-year low of $10.41 and a 1-year high of $20.69. The company has a market capitalization of $539.26 million, a price-to-earnings ratio of 16.62 and a beta of 1.28. The company’s 50-day moving average price is $15.56 and its 200-day moving average price is $15.82.
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Vera Bradley (NASDAQ:VRA) last posted its quarterly earnings data on Thursday, September 1st. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.01. Vera Bradley had a return on equity of 12.34% and a net margin of 6.63%. The company had revenue of $119.20 million for the quarter. During the same quarter in the prior year, the firm earned $0.15 earnings per share. Vera Bradley’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, analysts predict that Vera Bradley will post $0.90 earnings per share for the current fiscal year.
In other news, major shareholder Michael C. Ray sold 1,600 shares of the company’s stock in a transaction on Tuesday, September 27th. The stock was sold at an average price of $15.71, for a total value of $25,136.00. Following the completion of the sale, the insider now owns 282,262 shares in the company, valued at $4,434,336.02. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Michael C. Ray sold 10,800 shares of the company’s stock in a transaction on Friday, September 16th. The shares were sold at an average price of $15.97, for a total value of $172,476.00. Following the completion of the sale, the insider now owns 285,462 shares of the company’s stock, valued at approximately $4,558,828.14. The disclosure for this sale can be found here. 40.90% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in VRA. Vanguard Group Inc. raised its stake in shares of Vera Bradley by 7.8% in the second quarter. Vanguard Group Inc. now owns 1,589,059 shares of the company’s stock valued at $22,517,000 after buying an additional 115,100 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Vera Bradley by 36.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,408,087 shares of the company’s stock valued at $19,953,000 after buying an additional 374,637 shares during the period. BlackRock Fund Advisors raised its stake in shares of Vera Bradley by 1.3% in the second quarter. BlackRock Fund Advisors now owns 1,367,020 shares of the company’s stock valued at $19,371,000 after buying an additional 17,727 shares during the period. Renaissance Technologies LLC raised its stake in shares of Vera Bradley by 28.6% in the first quarter. Renaissance Technologies LLC now owns 1,133,300 shares of the company’s stock valued at $23,051,000 after buying an additional 251,800 shares during the period. Finally, Thompson Siegel & Walmsley LLC raised its stake in shares of Vera Bradley by 28.7% in the second quarter. Thompson Siegel & Walmsley LLC now owns 980,410 shares of the company’s stock valued at $13,893,000 after buying an additional 218,809 shares during the period. Institutional investors and hedge funds own 55.34% of the company’s stock.
About Vera Bradley
Vera Bradley, Inc 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. It offers an assortment of products, including bags, such as purses, totes and backpacks; accessories, such as wallets, wristlets, phone cases and technology accessories; travel and travel accessories, such as weekend bags, duffel bags and cosmetic bags, and home, such as mugs, tumblers and textiles, including aprons, beach towels, throw blankets and comforters.
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