Vera Bradley (VRA) Stock Price Up 27.7% on Strong Earnings

Shares of Vera Bradley, Inc. (NASDAQ:VRA) rose 27.7% during mid-day trading on Thursday following a stronger than expected earnings report. The stock traded as high as $11.75 and last traded at $11.03. Approximately 4,850,900 shares were traded during mid-day trading, an increase of 1,212% from the average daily volume of 369,626 shares. The stock had previously closed at $8.64.

The textile maker reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.09. Vera Bradley had a net margin of 2.21% and a return on equity of 6.64%. The company had revenue of $114.10 million during the quarter, compared to analyst estimates of $114.55 million. During the same quarter last year, the business posted $0.20 EPS. The firm’s revenue for the quarter was down 9.9% on a year-over-year basis.

A number of research analysts have commented on VRA shares. FBR & Co set a $12.00 target price on shares of Vera Bradley and gave the company a “buy” rating in a research report on Monday, August 28th. B. Riley reaffirmed a “buy” rating on shares of Vera Bradley in a research report on Wednesday, November 1st. Zacks Investment Research raised shares of Vera Bradley from a “hold” rating to a “buy” rating and set a $8.00 price objective on the stock in a research report on Wednesday, November 1st. Jefferies Group reaffirmed a “hold” rating and issued a $11.00 price objective on shares of Vera Bradley in a research report on Thursday, October 12th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Vera Bradley in a research report on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $10.83.

In related news, EVP Kimberly F. Colby sold 170,000 shares of Vera Bradley stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $8.47, for a total value of $1,439,900.00. Following the completion of the sale, the executive vice president now directly owns 21,655 shares in the company, valued at approximately $183,417.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 39.60% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Teton Advisors Inc. acquired a new position in shares of Vera Bradley in the 2nd quarter valued at $102,000. LMR Partners LLP acquired a new position in shares of Vera Bradley in the 2nd quarter valued at $115,000. Voya Investment Management LLC lifted its stake in shares of Vera Bradley by 29.4% in the 2nd quarter. Voya Investment Management LLC now owns 13,261 shares of the textile maker’s stock valued at $130,000 after purchasing an additional 3,014 shares during the period. Texas Permanent School Fund lifted its stake in shares of Vera Bradley by 1.2% in the 2nd quarter. Texas Permanent School Fund now owns 13,789 shares of the textile maker’s stock valued at $135,000 after purchasing an additional 157 shares during the period. Finally, Metropolitan Life Insurance Co. NY lifted its stake in shares of Vera Bradley by 14.7% in the 1st quarter. Metropolitan Life Insurance Co. NY now owns 15,147 shares of the textile maker’s stock valued at $141,000 after purchasing an additional 1,943 shares during the period. Institutional investors and hedge funds own 61.87% of the company’s stock.

The company has a market cap of $312.37, a P/E ratio of 16.61, a PEG ratio of 1.85 and a beta of 1.10.

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Vera Bradley Company Profile

Vera Bradley, Inc (Vera Bradley) is a designer of women’s handbags, accessories, luggage and travel items, eyewear, and stationery and gifts. The Company’s segments include Direct and Indirect. The Company offers various products, including bags, travel, home and accessories. Its accessories include fashion accessories, such as wallets, eyeglass cases, jewelry, and scarves and various technology accessories.

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