Vera Bradley Inc. (VRA) Receives Hold Rating from KeyCorp
A number of other brokerages have also recently weighed in on VRA. Zacks Investment Research raised shares of Vera Bradley from a sell rating to a hold rating in a research note on Wednesday, June 8th. Wunderlich dropped their price objective on shares of Vera Bradley from $24.00 to $20.00 and set a buy rating for the company in a research note on Thursday, August 11th. Cowen and Company reissued 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, Robert W. Baird reissued a neutral rating and set a $18.00 price objective on shares of Vera Bradley in a research note on Sunday, September 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. Vera Bradley presently has a consensus rating of Hold and an average target price of $18.75.
Vera Bradley (NASDAQ:VRA) traded down 0.68% on Thursday, reaching $14.69. The company had a trading volume of 343,877 shares. The stock has a market capitalization of $537.43 million, a PE ratio of 16.56 and a beta of 1.28. Vera Bradley has a 52-week low of $10.41 and a 52-week high of $20.69. The stock has a 50 day moving average price of $15.56 and a 200 day moving average price of $15.82.
Vera Bradley (NASDAQ:VRA) last posted its quarterly earnings results 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. The firm earned $119.20 million during the quarter. Vera Bradley had a net margin of 6.63% and a return on equity of 12.34%. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.15 earnings per share. Analysts expect that Vera Bradley will post $0.90 EPS for the current year.
In other Vera Bradley news, major shareholder Michael C. Ray sold 10,800 shares of Vera Bradley stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $14.54, for a total value of $157,032.00. Following the transaction, the insider now owns 289,662 shares in the company, valued at approximately $4,211,685.48. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Michael C. Ray sold 1,600 shares of Vera Bradley stock in a transaction on Tuesday, September 27th. The shares were sold at an average price of $15.71, for a total transaction of $25,136.00. Following the completion of the transaction, the insider now owns 282,262 shares in the company, valued at approximately $4,434,336.02. The disclosure for this sale can be found here. Corporate insiders own 40.90% of the company’s stock.
Several institutional investors have recently made changes to their positions in VRA. BlackRock Fund Advisors raised its position in shares of Vera Bradley by 143.6% in the first quarter. BlackRock Fund Advisors now owns 1,349,293 shares of the company’s stock worth $27,445,000 after buying an additional 795,475 shares during the period. Teachers Retirement System of The State of Kentucky raised its position in Vera Bradley by 10.8% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 7,200 shares of the company’s stock valued at $102,000 after buying an additional 700 shares during the last quarter. Bogle Investment Management L P DE acquired a new position in Vera Bradley during the first quarter valued at $5,451,000. Strs Ohio acquired a new position in Vera Bradley during the second quarter valued at $478,000. Finally, AXA acquired a new position in Vera Bradley during the first quarter valued at $1,534,000. Institutional investors own 55.34% of the company’s stock.
Vera Bradley Company Profile
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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