Vera Bradley (VRA) Sees Large Volume Increase After Earnings Beat
Shares of Vera Bradley, Inc. (NASDAQ:VRA) saw unusually-strong trading volume on Wednesday following a better than expected earnings announcement. Approximately 4,850,689 shares traded hands during trading, an increase of 1,212% from the previous session’s volume of 369,610 shares.The stock last traded at $11.03 and had previously closed at $8.64.
The textile maker reported $0.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.09. The firm had revenue of $114.10 million for the quarter, compared to the consensus estimate of $114.55 million. Vera Bradley had a return on equity of 6.64% and a net margin of 2.21%. The company’s revenue was down 9.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.20 EPS.
A number of research analysts have recently commented on VRA shares. BidaskClub cut Vera Bradley from a “sell” rating to a “strong sell” rating in a research note on Friday, October 27th. FBR & Co set a $12.00 price target on Vera Bradley and gave the company a “buy” rating in a research note on Monday, August 28th. Zacks Investment Research upgraded Vera Bradley from a “hold” rating to a “buy” rating and set a $8.00 price target for the company in a research note on Wednesday, November 1st. Jefferies Group reiterated a “hold” rating and issued a $11.00 price target on shares of Vera Bradley in a research note on Thursday, October 12th. Finally, KeyCorp reiterated 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 four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $10.33.
A number of large investors have recently made changes to their positions in VRA. Teton Advisors Inc. bought a new position in Vera Bradley during the 2nd quarter worth $102,000. LMR Partners LLP bought a new position in shares of Vera Bradley in the 2nd quarter worth about $115,000. Voya Investment Management LLC raised 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 worth $130,000 after acquiring an additional 3,014 shares in the last quarter. Texas Permanent School Fund raised its position in shares of Vera Bradley by 1.2% in the 2nd quarter. Texas Permanent School Fund now owns 13,789 shares of the textile maker’s stock worth $135,000 after acquiring an additional 157 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its position in shares of Vera Bradley by 14.7% in the 1st quarter. Metropolitan Life Insurance Co. NY now owns 15,147 shares of the textile maker’s stock worth $141,000 after acquiring an additional 1,943 shares in the last quarter. 61.87% of the stock is owned by institutional investors and hedge funds.
The firm has a market cap of $310.74, a PE ratio of 16.56, a price-to-earnings-growth ratio of 1.84 and a beta of 1.10.
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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