Zacks Investment Research Upgrades Vera Bradley, Inc. (VRA) to “Buy”
Vera Bradley, Inc. (NASDAQ:VRA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The firm presently has a $8.00 target price on the textile maker’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 11.11% from the company’s current price.
According to Zacks, “Vera Bradley Designs, Inc. is a designer, producer, marketer and retailer of accessories for women. Its products include handbags, accessories and travel and leisure items. It sells its products through two reportable segments Indirect and Direct. Its indirect business consists of sale of Vera Bradley products to independent retailers in the U.S. as well as select national retailers and third party e-commerce sites. Its direct business consists of sales of Vera Bradley products through its full-price stores, its outlet stores, verabradley.com, and its annual outlet sale in Fort Wayne, Indiana. Vera Bradley Designs, Inc. is headquartered in Fort Wayne, Indiana. “
A number of other brokerages also recently commented on VRA. BidaskClub downgraded shares of Vera Bradley from a “hold” rating to a “sell” rating in a research note on Wednesday, September 13th. Jefferies Group LLC reissued a “hold” rating and issued a $10.00 price objective on shares of Vera Bradley in a research note on Friday, July 14th. FBR & Co reissued an “outperform” rating and issued a $12.00 price objective on shares of Vera Bradley in a research note on Tuesday, July 11th. Finally, KeyCorp reissued a “hold” rating on shares of Vera Bradley in a research note on Friday, August 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $10.33.
Vera Bradley (NASDAQ VRA) traded down 2.153% on Wednesday, reaching $7.045. The company had a trading volume of 152,204 shares. The company has a market capitalization of $253.37 million, a P/E ratio of 24.894 and a beta of 0.86. Vera Bradley has a 52 week low of $7.03 and a 52 week high of $15.86. The stock’s 50-day moving average is $8.13 and its 200-day moving average is $8.88.
Vera Bradley (NASDAQ:VRA) last issued its quarterly earnings data on Wednesday, August 30th. The textile maker reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. The company had revenue of $112.42 million during the quarter, compared to the consensus estimate of $111.72 million. Vera Bradley had a net margin of 2.21% and a return on equity of 6.64%. Vera Bradley’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.17 earnings per share. Equities research analysts forecast that Vera Bradley will post $0.47 EPS for the current fiscal year.
In related news, 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 transaction, the executive vice president now directly owns 21,655 shares of the company’s stock, valued at approximately $183,417.85. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Michael C. Ray sold 237,500 shares of the company’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $8.23, for a total value of $1,954,625.00. Following the completion of the transaction, the insider now directly owns 120,712 shares in the company, valued at $993,459.76. The disclosure for this sale can be found here. Corporate insiders own 39.60% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Teton Advisors Inc. acquired a new position in shares of Vera Bradley in the 2nd quarter valued at $102,000. LMR Partners LLP acquired a new position in shares of Vera Bradley in the 2nd quarter valued at $115,000. Wells Fargo & Company MN increased its position in shares of Vera Bradley by 3.4% in the 1st quarter. Wells Fargo & Company MN now owns 13,408 shares of the textile maker’s stock valued at $125,000 after acquiring an additional 444 shares during the period. Voya Investment Management LLC increased its position in shares of Vera Bradley by 29.4% in the 2nd quarter. Voya Investment Management LLC now owns 13,261 shares of the textile maker’s stock valued at $130,000 after acquiring an additional 3,014 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of Vera Bradley in the 1st quarter valued at $133,000. 60.53% of the stock is currently owned by hedge funds and other institutional investors.
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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