Vera Bradley (NASDAQ:VRA) Rating Lowered to “Hold” at Wall Street Zen

Vera Bradley (NASDAQ:VRA) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Vera Bradley in a research note on Monday, June 15th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce”.

Vera Bradley Price Performance

VRA stock opened at $3.69 on Friday. The firm has a market cap of $104.94 million, a P/E ratio of -5.35 and a beta of 1.57. Vera Bradley has a 52-week low of $1.39 and a 52-week high of $4.39. The company’s 50-day simple moving average is $3.64 and its 200-day simple moving average is $3.34.

Vera Bradley (NASDAQ:VRA) last issued its quarterly earnings results on Thursday, June 11th. The textile maker reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.24. Vera Bradley had a negative return on equity of 6.66% and a negative net margin of 7.02%.The company had revenue of $55.70 million for the quarter, compared to the consensus estimate of $49.12 million. On average, analysts anticipate that Vera Bradley will post -0.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Vera Bradley news, Director Andrew Meslow bought 24,926 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were acquired at an average cost of $3.73 per share, with a total value of $92,973.98. Following the purchase, the director directly owned 650,000 shares of the company’s stock, valued at $2,424,500. This trade represents a 3.99% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 14.30% of the company’s stock.

Institutional Investors Weigh In On Vera Bradley

Large investors have recently made changes to their positions in the stock. Nomura Holdings Inc. increased its holdings in shares of Vera Bradley by 15.2% in the third quarter. Nomura Holdings Inc. now owns 1,846,432 shares of the textile maker’s stock valued at $3,711,000 after purchasing an additional 243,900 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Vera Bradley by 31.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,038,807 shares of the textile maker’s stock valued at $3,283,000 after buying an additional 249,161 shares in the last quarter. Peapod Lane Capital LLC increased its stake in shares of Vera Bradley by 14.4% in the 4th quarter. Peapod Lane Capital LLC now owns 875,893 shares of the textile maker’s stock worth $2,120,000 after acquiring an additional 110,485 shares during the last quarter. Marshall Wace LLP increased its stake in shares of Vera Bradley by 133.2% in the 4th quarter. Marshall Wace LLP now owns 467,127 shares of the textile maker’s stock worth $1,130,000 after acquiring an additional 266,785 shares during the last quarter. Finally, Impala Asset Management LLC purchased a new position in shares of Vera Bradley during the 4th quarter worth $976,000. 59.88% of the stock is currently owned by hedge funds and other institutional investors.

Vera Bradley Company Profile

Vera Bradley, Inc (NASDAQ: VRA) is a lifestyle and accessories designer specializing in colorful, patterned handbags, luggage, travel accessories and coordinated home décor. Founded in 1982 by Barbara Bradley Baekgaard and Patricia R. Miller, the company first gained recognition for its quilted cotton bags sold at craft shows before expanding into an established fashion brand. Headquartered in Fort Wayne, Indiana, Vera Bradley has built a reputation for distinctive prints and functional design aimed primarily at women’s casual and travel needs.

The company’s product portfolio includes day bags, weekenders, backpacks, wallets, and organizational cases, as well as an expanding range of travel gear such as rolling luggage and travel pouches.