Vera Bradley (NASDAQ:VRA) Lowered to “Hold” at BidaskClub

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Vera Bradley (NASDAQ:VRA) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Wednesday, BidAskClub reports.

A number of other analysts also recently commented on VRA. Zacks Investment Research downgraded Vera Bradley from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Telsey Advisory Group decreased their target price on Vera Bradley from $13.00 to $10.00 and set a “market perform” rating for the company in a research note on Thursday, September 5th. Finally, ValuEngine raised Vera Bradley from a “sell” rating to a “hold” rating in a report on Wednesday, September 11th. Four investment analysts have rated the stock with a hold rating, Vera Bradley presently has an average rating of “Hold” and a consensus price target of $11.00.

NASDAQ VRA opened at $10.86 on Wednesday. Vera Bradley has a 12 month low of $7.94 and a 12 month high of $14.51. The firm has a market capitalization of $375.23 million, a PE ratio of 18.40 and a beta of 0.85. The company’s 50 day simple moving average is $11.02 and its 200 day simple moving average is $10.88. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.15 and a quick ratio of 0.91.

Vera Bradley (NASDAQ:VRA) last released its earnings results on Wednesday, September 4th. The textile maker reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). The firm had revenue of $119.79 million during the quarter, compared to analyst estimates of $117.35 million. Vera Bradley had a return on equity of 6.55% and a net margin of 3.82%. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the company earned $0.26 earnings per share. Sell-side analysts anticipate that Vera Bradley will post 0.89 earnings per share for the current fiscal year.

In related news, insider Robert Wallstrom acquired 5,434 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was bought at an average price of $9.19 per share, for a total transaction of $49,938.46. Following the transaction, the insider now owns 270,306 shares of the company’s stock, valued at $2,484,112.14. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder B. Baekgaard 2009 Gran Barbara sold 27,875 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $11.42, for a total value of $318,332.50. Following the sale, the insider now owns 2,374,628 shares of the company’s stock, valued at approximately $27,118,251.76. The disclosure for this sale can be found here. Insiders own 27.30% of the company’s stock.

Several institutional investors have recently made changes to their positions in VRA. Texas Permanent School Fund increased its stake in Vera Bradley by 13.2% in the 3rd quarter. Texas Permanent School Fund now owns 16,068 shares of the textile maker’s stock worth $162,000 after purchasing an additional 1,871 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its position in shares of Vera Bradley by 224.2% in the second quarter. Municipal Employees Retirement System of Michigan now owns 45,190 shares of the textile maker’s stock worth $542,000 after acquiring an additional 31,250 shares in the last quarter. Morgan Stanley raised its holdings in shares of Vera Bradley by 190.5% during the second quarter. Morgan Stanley now owns 101,043 shares of the textile maker’s stock valued at $1,213,000 after acquiring an additional 66,255 shares during the period. Acadian Asset Management LLC raised its holdings in shares of Vera Bradley by 15.5% during the second quarter. Acadian Asset Management LLC now owns 723,580 shares of the textile maker’s stock valued at $8,682,000 after acquiring an additional 96,866 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in shares of Vera Bradley by 109.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 136,974 shares of the textile maker’s stock valued at $1,382,000 after acquiring an additional 71,618 shares in the last quarter. 68.67% of the stock is currently owned by institutional investors.

Vera Bradley Company Profile

Vera Bradley, Inc, together with its subsidiaries, designs, manufactures, and sells women's handbags, luggage and travel items, fashion and home accessories, and gifts. It operates through two segments, Direct and Indirect. The company offers totes, crossbodies, satchels, clutches, backpacks, baby bags, and lunch bags; accessories, including wallets, wristlets, eyeglass cases, scarves, and various technology accessories; and travel products, such as rolling luggage, cosmetics, and travel and packing accessories, as well as travel bags comprising duffel and weekend bags.

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