Vera Bradley (NASDAQ:VRA) Cut to Hold at BidaskClub

BidaskClub downgraded shares of Vera Bradley (NASDAQ:VRA) from a buy rating to a hold rating in a research note released on Tuesday morning, BidAskClub reports.

A number of other brokerages have also commented on VRA. Zacks Investment Research reissued a buy rating and issued a $12.00 price objective on shares of Vera Bradley in a research report on Saturday, June 15th. ValuEngine downgraded shares of Vera Bradley from a buy rating to a hold rating in a report on Saturday, May 18th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $11.50.

Shares of VRA stock opened at $10.26 on Tuesday. The company’s fifty day simple moving average is $11.08 and its 200-day simple moving average is $11.34. The company has a quick ratio of 2.53, a current ratio of 4.15 and a debt-to-equity ratio of 0.41. The firm has a market cap of $351.38 million, a PE ratio of 17.39 and a beta of 0.83. Vera Bradley has a 12 month low of $7.94 and a 12 month high of $17.38.

Vera Bradley (NASDAQ:VRA) last announced its quarterly earnings data on Wednesday, June 5th. The textile maker reported ($0.07) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.07). The business had revenue of $91.00 million for the quarter, compared to analyst estimates of $87.95 million. Vera Bradley had a net margin of 4.69% and a return on equity of 6.76%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.04) earnings per share. On average, equities analysts predict that Vera Bradley will post 0.7 earnings per share for the current fiscal year.

In related news, major shareholder James Bradley Byrne sold 35,000 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $11.34, for a total transaction of $396,900.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Michael C. Ray sold 31,500 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $10.95, for a total transaction of $344,925.00. Following the transaction, the insider now owns 114,627 shares in the company, valued at $1,255,165.65. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 205,276 shares of company stock worth $2,314,251. 27.30% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the business. Quantamental Technologies LLC acquired a new position in shares of Vera Bradley in the first quarter valued at $32,000. Aperio Group LLC bought a new stake in shares of Vera Bradley in the second quarter valued at about $37,000. Sterling Investment Advisors Ltd. bought a new stake in shares of Vera Bradley in the second quarter valued at about $48,000. BNP Paribas Arbitrage SA boosted its position in shares of Vera Bradley by 67.2% in the first quarter. BNP Paribas Arbitrage SA now owns 4,744 shares of the textile maker’s stock valued at $63,000 after acquiring an additional 1,907 shares during the period. Finally, Metropolitan Life Insurance Co NY bought a new stake in shares of Vera Bradley in the first quarter valued at about $100,000. Hedge funds and other institutional investors own 66.70% of the company’s stock.

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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