Vera Bradley (NASDAQ:VRA) Upgraded to Strong-Buy at Zacks Research

Vera Bradley (NASDAQ:VRA) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Wednesday, Zacks reports.

A number of other equities analysts have also recently issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Vera Bradley in a report on Friday, September 11th. Wall Street Zen raised Vera Bradley from a “hold” rating to a “strong-buy” rating in a research note on Saturday, September 19th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

Vera Bradley Price Performance

VRA stock opened at $4.07 on Wednesday. The company has a 50 day moving average price of $3.50 and a 200 day moving average price of $3.57. The stock has a market capitalization of $116.77 million, a PE ratio of -11.00 and a beta of 1.59. Vera Bradley has a fifty-two week low of $1.39 and a fifty-two week high of $4.58.

Vera Bradley (NASDAQ:VRA) last announced its quarterly earnings data on Tuesday, September 15th. The textile maker reported $0.11 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.19. Vera Bradley had a negative return on equity of 3.80% and a negative net margin of 3.66%.The firm had revenue of $71.65 million during the quarter, compared to analysts’ expectations of $65.95 million. During the same period in the previous year, the business posted ($0.17) EPS. As a group, equities analysts expect that Vera Bradley will post -0.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Engineers Gate Manager LP purchased a new stake in shares of Vera Bradley during the 2nd quarter worth about $39,000. Algert Global LLC acquired a new stake in shares of Vera Bradley during the 2nd quarter valued at about $51,000. Assenagon Asset Management S.A. purchased a new position in shares of Vera Bradley in the 2nd quarter valued at about $158,000. GSA Capital Partners LLP purchased a new position in shares of Vera Bradley in the 2nd quarter valued at about $232,000. Finally, Squarepoint Ops LLC acquired a new position in Vera Bradley in the 2nd quarter worth about $327,000. Institutional investors and hedge funds own 59.88% of the company’s stock.

About Vera Bradley

Vera Bradley, Inc is a lifestyle and accessories company best known for its colorful, patterned handbags and travel products. Its merchandise includes totes, crossbody bags, backpacks, wallets, accessories, luggage, apparel, home goods and gifts, with collections designed for everyday use, travel and personal style.

The company operates primarily through the Vera Bradley brand and Pura Vida, a lifestyle brand offering bracelets, jewelry, accessories and related products. Vera Bradley sells its products through company-operated stores, outlet locations, e-commerce websites and wholesale partners, including specialty retailers and department stores.