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

Zacks Research upgraded shares of Vera Bradley (NASDAQ:VRA) from a hold rating to a strong-buy rating in a research note published on Wednesday morning,Zacks reports.

Several other research firms have also weighed in on VRA. Wall Street Zen upgraded shares of Vera Bradley from a “hold” rating to a “strong-buy” rating in a report on Saturday, September 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of Vera Bradley in a research note on Friday, September 11th. One research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Vera Bradley Price Performance

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

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

Institutional Investors Weigh In On Vera Bradley

Several institutional investors have recently bought and sold shares of VRA. BlackRock Inc. acquired a new stake in Vera Bradley in the 2nd quarter valued at $1,686,000. Saba Capital Management L.P. bought a new position in shares of Vera Bradley in the 1st quarter valued at about $916,000. Impala Asset Management LLC acquired a new stake in shares of Vera Bradley in the fourth quarter valued at about $976,000. Luxor Capital Group LP acquired a new stake in shares of Vera Bradley in the first quarter valued at about $610,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Vera Bradley by 31.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,038,807 shares of the textile maker’s stock worth $3,283,000 after acquiring an additional 249,161 shares in the last quarter. Institutional investors 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.