Zacks Investment Research downgraded shares of Vera Bradley (NASDAQ:VRA) from a hold rating to a sell rating in a research report report published on Wednesday morning.
According to Zacks, “Vera Bradley Designs, Inc. is a designer, producer, marketer and retailer of accessories for women. Its products include handbags, accessories and travel and leisure items. It sells its products through two reportable segments Indirect and Direct. Its indirect business consists of sale of Vera Bradley products to independent retailers in the U.S. as well as select national retailers and third party e-commerce sites. Its direct business consists of sales of Vera Bradley products through its full-price stores, its outlet stores, verabradley.com, and its annual outlet sale in Fort Wayne, Indiana. Vera Bradley Designs, Inc. is headquartered in Fort Wayne, Indiana. “
Several other research firms have also weighed in on VRA. Robert W. Baird set a $12.00 target price on Vera Bradley and gave the company a hold rating in a report on Monday, December 25th. BidaskClub lowered Vera Bradley from a hold rating to a sell rating in a report on Thursday, January 11th. Cowen reiterated a hold rating and issued a $12.00 price objective on shares of Vera Bradley in a research note on Thursday, December 7th. Finally, B. Riley reiterated a buy rating on shares of Vera Bradley in a research note on Wednesday, November 1st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $11.00.
Vera Bradley (VRA) opened at $9.87 on Wednesday. Vera Bradley has a 1-year low of $6.99 and a 1-year high of $12.83. The firm has a market capitalization of $370.80, a PE ratio of 197.40, a price-to-earnings-growth ratio of 2.43 and a beta of 0.83.
Vera Bradley (NASDAQ:VRA) last posted its earnings results on Wednesday, December 6th. The textile maker reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.09. Vera Bradley had a return on equity of 7.06% and a net margin of 0.43%. The company had revenue of $114.10 million for the quarter, compared to analyst estimates of $114.55 million. During the same period last year, the company earned $0.20 earnings per share. The business’s revenue was down 9.9% compared to the same quarter last year. equities analysts forecast that Vera Bradley will post 0.58 EPS for the current fiscal year.
In other news, major shareholder Thomas Farrell Byrne II sold 12,292 shares of Vera Bradley stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $12.33, for a total value of $151,560.36. Following the transaction, the insider now directly owns 32,605 shares in the company, valued at $402,019.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 39.60% of the company’s stock.
Several institutional investors have recently bought and sold shares of VRA. MetLife Investment Advisors LLC acquired a new stake in Vera Bradley during the fourth quarter worth about $125,000. Voya Investment Management LLC grew its position in Vera Bradley by 29.4% during the second quarter. Voya Investment Management LLC now owns 13,261 shares of the textile maker’s stock worth $130,000 after buying an additional 3,014 shares in the last quarter. Hartford Investment Management Co. acquired a new stake in Vera Bradley during the third quarter worth about $141,000. Wells Fargo & Company MN grew its position in Vera Bradley by 11.6% during the second quarter. Wells Fargo & Company MN now owns 14,964 shares of the textile maker’s stock worth $147,000 after buying an additional 1,556 shares in the last quarter. Finally, Jefferies Group LLC acquired a new stake in Vera Bradley during the fourth quarter worth about $158,000. Institutional investors and hedge funds own 65.75% of the company’s stock.
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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