Vera Bradley Inc. (VRA) Upgraded to Hold at Zacks Investment Research
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 analysts also recently weighed in on the stock. KeyCorp reiterated a hold rating on shares of Vera Bradley in a research report on Thursday, October 6th. Robert W. Baird reiterated a neutral rating and issued a $18.00 price target on shares of Vera Bradley in a research report on Sunday, September 4th. Cowen and Company reiterated a market perform rating and issued a $18.00 price target on shares of Vera Bradley in a research report on Sunday, September 4th. Finally, Wunderlich cut their price target on shares of Vera Bradley from $24.00 to $20.00 and set a buy rating on the stock in a research report on Thursday, August 11th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $18.75.
Vera Bradley (NASDAQ:VRA) remained flat at $15.43 during mid-day trading on Wednesday. The company had a trading volume of 143,200 shares. Vera Bradley has a one year low of $11.10 and a one year high of $20.69. The stock has a market cap of $564.51 million, a PE ratio of 17.40 and a beta of 1.06. The company has a 50-day moving average price of $14.17 and a 200-day moving average price of $14.84.
Vera Bradley (NASDAQ:VRA) last released its earnings results on Thursday, September 1st. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. Vera Bradley had a net margin of 6.63% and a return on equity of 12.34%. The company had revenue of $119.20 million for the quarter. During the same quarter in the previous year, the company posted $0.15 earnings per share. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, equities analysts expect that Vera Bradley will post $0.90 EPS for the current fiscal year.
In other Vera Bradley news, major shareholder Michael C. Ray sold 10,800 shares of Vera Bradley stock in a transaction dated Friday, September 16th. The stock was sold at an average price of $15.97, for a total value of $172,476.00. Following the transaction, the insider now owns 285,462 shares in the company, valued at $4,558,828.14. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Michael C. Ray sold 32,400 shares of Vera Bradley stock in a transaction dated Wednesday, November 16th. The shares were sold at an average price of $14.92, for a total value of $483,408.00. Following the completion of the transaction, the insider now owns 269,462 shares in the company, valued at approximately $4,020,373.04. The disclosure for this sale can be found here. Insiders own 40.90% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Park West Asset Management LLC acquired a new position in Vera Bradley during the third quarter worth about $3,337,000. D. E. Shaw & Co. Inc. boosted its position in Vera Bradley by 3.5% in the third quarter. D. E. Shaw & Co. Inc. now owns 335,920 shares of the company’s stock worth $5,089,000 after buying an additional 11,242 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in Vera Bradley during the third quarter worth about $225,000. Two Sigma Advisers LP boosted its position in Vera Bradley by 32.7% in the third quarter. Two Sigma Advisers LP now owns 159,066 shares of the company’s stock worth $2,410,000 after buying an additional 39,200 shares in the last quarter. Finally, SECOR Capital Advisors LP acquired a new position in Vera Bradley during the third quarter worth about $316,000. Hedge funds and other institutional investors own 54.11% of the company’s stock.
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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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