Zacks Investment Research Downgrades Vera Bradley (VRA) to Hold

Zacks Investment Research lowered shares of Vera Bradley (NASDAQ:VRA) from a buy rating to a hold rating in a research report report published on Thursday, Zacks.com reports.

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 recently commented on VRA. BidaskClub raised shares of Vera Bradley from a hold rating to a buy rating in a research note on Thursday, March 7th. Telsey Advisory Group reissued a market perform rating and set a $11.00 price objective on shares of Vera Bradley in a research note on Thursday, March 14th. Finally, ValuEngine cut shares of Vera Bradley from a buy rating to a hold rating in a research note on Thursday, April 11th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Vera Bradley currently has a consensus rating of Hold and a consensus price target of $13.50.

VRA stock traded up $0.09 during midday trading on Thursday, hitting $11.59. The stock had a trading volume of 4,428 shares, compared to its average volume of 286,428. The stock has a market capitalization of $391.29 million, a P/E ratio of 19.71 and a beta of 0.72. Vera Bradley has a 12-month low of $7.94 and a 12-month high of $17.38.

Vera Bradley (NASDAQ:VRA) last released its earnings results on Wednesday, March 13th. The textile maker reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.01. The firm had revenue of $118.20 million during the quarter, compared to analysts’ expectations of $116.34 million. Vera Bradley had a net margin of 4.99% and a return on equity of 7.15%. Vera Bradley’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.33 EPS. On average, equities analysts anticipate that Vera Bradley will post 0.69 earnings per share for the current year.

In other news, insider Anne Marie Ray sold 70,000 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $10.61, for a total transaction of $742,700.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Michael C. Ray sold 2,429 shares of Vera Bradley stock in a transaction on Monday, March 18th. The shares were sold at an average price of $13.55, for a total transaction of $32,912.95. Following the transaction, the insider now owns 21,873 shares in the company, valued at approximately $296,379.15. The disclosure for this sale can be found here. Insiders have sold a total of 531,166 shares of company stock valued at $6,147,578 over the last three months. Corporate insiders own 27.30% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its holdings in shares of Vera Bradley by 1.6% during the 4th quarter. BlackRock Inc. now owns 3,303,722 shares of the textile maker’s stock valued at $28,313,000 after acquiring an additional 52,306 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Vera Bradley by 4.9% during the 1st quarter. AQR Capital Management LLC now owns 1,307,894 shares of the textile maker’s stock valued at $17,330,000 after acquiring an additional 60,792 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Vera Bradley by 44.9% during the 4th quarter. Acadian Asset Management LLC now owns 841,272 shares of the textile maker’s stock valued at $7,209,000 after acquiring an additional 260,532 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Vera Bradley by 41.9% during the 4th quarter. Millennium Management LLC now owns 781,190 shares of the textile maker’s stock valued at $6,695,000 after acquiring an additional 230,511 shares in the last quarter. Finally, Ancora Advisors LLC lifted its holdings in shares of Vera Bradley by 137.8% during the 4th quarter. Ancora Advisors LLC now owns 548,508 shares of the textile maker’s stock valued at $4,700,000 after acquiring an additional 317,895 shares in the last quarter. Institutional investors and hedge funds own 70.20% 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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