Vera Bradley’s (VRA) Hold Rating Reaffirmed at Jefferies Group LLC
Vera Bradley, Inc. (NASDAQ:VRA)‘s stock had its “hold” rating reiterated by Jefferies Group LLC in a research report issued on Thursday. They currently have a $11.00 target price on the textile maker’s stock. Jefferies Group LLC’s price objective indicates a potential upside of 40.85% from the stock’s current price.
VRA has been the topic of several other research reports. BidaskClub lowered shares of Vera Bradley from a “hold” rating to a “sell” rating in a research report on Wednesday. Zacks Investment Research raised shares of Vera Bradley from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. FBR & Co reaffirmed an “outperform” rating and set a $12.00 price target on shares of Vera Bradley in a research report on Tuesday, July 11th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Vera Bradley in a research report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. Vera Bradley has a consensus rating of “Hold” and an average price target of $10.80.
Vera Bradley (VRA) traded down 1.39% on Thursday, hitting $7.81. The stock had a trading volume of 279,136 shares. Vera Bradley has a 12 month low of $7.70 and a 12 month high of $15.86. The firm’s 50 day moving average price is $8.60 and its 200-day moving average price is $8.99. The stock has a market cap of $280.89 million, a PE ratio of 27.60 and a beta of 0.86.
Vera Bradley (NASDAQ:VRA) last released its earnings results on Wednesday, August 30th. The textile maker reported $0.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.03. Vera Bradley had a net margin of 2.21% and a return on equity of 6.64%. The business had revenue of $112.42 million for the quarter, compared to analyst estimates of $111.72 million. During the same period last year, the company posted $0.17 EPS. The business’s revenue was down 5.7% on a year-over-year basis. On average, analysts forecast that Vera Bradley will post $0.47 EPS for the current year.
In other Vera Bradley news, major shareholder Michael C. Ray sold 237,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $8.23, for a total value of $1,954,625.00. Following the sale, the insider now owns 120,712 shares of the company’s stock, valued at $993,459.76. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Kimberly F. Colby sold 170,000 shares of the business’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $8.47, for a total value of $1,439,900.00. Following the completion of the sale, the executive vice president now directly owns 21,655 shares in the company, valued at approximately $183,417.85. The disclosure for this sale can be found here. 39.60% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in VRA. Renaissance Technologies LLC raised its position in Vera Bradley by 35.8% in the first quarter. Renaissance Technologies LLC now owns 1,891,800 shares of the textile maker’s stock valued at $17,613,000 after purchasing an additional 498,950 shares during the period. Dimensional Fund Advisors LP raised its position in Vera Bradley by 22.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,226,704 shares of the textile maker’s stock valued at $21,776,000 after purchasing an additional 413,983 shares during the period. Vanguard Group Inc. raised its position in Vera Bradley by 12.6% in the first quarter. Vanguard Group Inc. now owns 1,741,621 shares of the textile maker’s stock valued at $16,215,000 after purchasing an additional 194,971 shares during the period. Bank of New York Mellon Corp raised its position in Vera Bradley by 18.6% in the first quarter. Bank of New York Mellon Corp now owns 1,190,086 shares of the textile maker’s stock valued at $11,079,000 after purchasing an additional 186,986 shares during the period. Finally, Citadel Advisors LLC raised its position in Vera Bradley by 61.6% in the second quarter. Citadel Advisors LLC now owns 435,950 shares of the textile maker’s stock valued at $4,264,000 after purchasing an additional 166,116 shares during the period. 60.60% of the stock is currently owned by institutional investors.
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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