Vera Bradley, Inc. (VRA) Given Consensus Recommendation of “Hold” by Brokerages
Vera Bradley, Inc. (NASDAQ:VRA) has received a consensus rating of “Hold” from the seven ratings firms that are presently covering the firm. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $11.80.
A number of brokerages recently commented on VRA. Wunderlich restated a “buy” rating and issued a $11.00 target price on shares of Vera Bradley in a research note on Saturday, March 25th. Telsey Advisory Group restated a “market perform” rating and issued a $11.00 target price (down from $14.00) on shares of Vera Bradley in a research note on Thursday, March 9th. Jefferies Group LLC set a $10.00 target price on Vera Bradley and gave the company a “hold” rating in a research note on Monday, April 10th. Zacks Investment Research lowered Vera Bradley from a “hold” rating to a “sell” rating in a research note on Saturday, May 6th. Finally, Cowen and Company restated a “market perform” rating and issued a $9.00 target price (down from $14.00) on shares of Vera Bradley in a research note on Saturday, March 11th.
In other Vera Bradley news, major shareholder Michael C. Ray sold 35,000 shares of the stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $9.25, for a total transaction of $323,750.00. Following the completion of the transaction, the insider now directly owns 234,632 shares in the company, valued at $2,170,346. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Michael C. Ray sold 30,000 shares of the stock in a transaction on Tuesday, March 14th. The stock was sold at an average price of $9.14, for a total value of $274,200.00. Following the transaction, the insider now owns 243,362 shares of the company’s stock, valued at $2,224,328.68. The disclosure for this sale can be found here. Insiders have sold 190,410 shares of company stock valued at $1,752,002 over the last quarter. Corporate insiders own 40.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Park West Asset Management LLC bought a new position in Vera Bradley during the third quarter valued at about $3,337,000. Russell Investments Group Ltd. bought a new position in Vera Bradley during the fourth quarter valued at about $719,000. Comerica Bank raised its position in Vera Bradley by 5.8% in the fourth quarter. Comerica Bank now owns 20,930 shares of the textile maker’s stock valued at $249,000 after buying an additional 1,154 shares in the last quarter. State Street Corp raised its position in Vera Bradley by 9.8% in the fourth quarter. State Street Corp now owns 417,932 shares of the textile maker’s stock valued at $4,896,000 after buying an additional 37,267 shares in the last quarter. Finally, Oxford Asset Management raised its position in Vera Bradley by 58.1% in the fourth quarter. Oxford Asset Management now owns 87,691 shares of the textile maker’s stock valued at $1,028,000 after buying an additional 32,213 shares in the last quarter. Hedge funds and other institutional investors own 55.55% of the company’s stock.
Vera Bradley (NASDAQ:VRA) opened at 7.89 on Tuesday. The stock’s 50 day moving average is $8.79 and its 200 day moving average is $10.97. The firm has a market cap of $285.46 million, a P/E ratio of 14.89 and a beta of 0.96. Vera Bradley has a one year low of $7.70 and a one year high of $17.20.
Vera Bradley (NASDAQ:VRA) last issued its earnings results on Wednesday, March 8th. The textile maker reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.05. The business had revenue of $134.80 million during the quarter, compared to analyst estimates of $137.34 million. Vera Bradley had a return on equity of 11.15% and a net margin of 6.34%. Vera Bradley’s revenue was down 12.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.41 earnings per share. On average, equities research analysts expect that Vera Bradley will post $0.44 earnings per share for the current year.
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About Vera Bradley
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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