Vera Bradley (NASDAQ:VRA) Releases Earnings Results, Beats Expectations By $0.07 EPS

Vera Bradley (NASDAQ:VRA) posted its earnings results on Thursday. The textile maker reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.07, FiscalAI reports. The firm had revenue of $62.25 million for the quarter, compared to the consensus estimate of $61.69 million. Vera Bradley had a negative return on equity of 18.30% and a negative net margin of 34.23%.During the same quarter in the prior year, the business posted ($0.27) earnings per share.

Vera Bradley Stock Up 8.3%

Shares of VRA stock opened at $1.95 on Friday. Vera Bradley has a fifty-two week low of $1.39 and a fifty-two week high of $4.40. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.76 and a current ratio of 2.52. The firm has a market capitalization of $54.48 million, a PE ratio of -0.56 and a beta of 1.75. The stock’s 50-day simple moving average is $2.37 and its 200-day simple moving average is $2.21.

Analyst Ratings Changes

A number of brokerages have commented on VRA. Small Cap Consu raised Vera Bradley to a “hold” rating in a research note on Monday, August 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Vera Bradley in a research note on Wednesday, October 8th. Finally, Wall Street Zen downgraded Vera Bradley from a “hold” rating to a “sell” rating in a research note on Sunday, October 26th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Vera Bradley presently has an average rating of “Reduce”.

Hedge Funds Weigh In On Vera Bradley

Several hedge funds and other institutional investors have recently modified their holdings of VRA. Qube Research & Technologies Ltd purchased a new position in Vera Bradley during the 3rd quarter valued at about $49,000. Nomura Holdings Inc. raised its holdings in shares of Vera Bradley by 15.2% in the third quarter. Nomura Holdings Inc. now owns 1,846,432 shares of the textile maker’s stock valued at $3,711,000 after buying an additional 243,900 shares during the last quarter. Two Sigma Investments LP acquired a new stake in Vera Bradley in the third quarter valued at about $121,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of Vera Bradley by 21.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 542,579 shares of the textile maker’s stock valued at $1,091,000 after purchasing an additional 96,044 shares during the period. Finally, Corient Private Wealth LLC boosted its position in shares of Vera Bradley by 266.8% in the 2nd quarter. Corient Private Wealth LLC now owns 41,000 shares of the textile maker’s stock worth $91,000 after buying an additional 29,823 shares in the last quarter. 59.88% of the stock is owned by hedge funds and other institutional investors.

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 three segments: Vera Bradley Direct, Vera Bradley Indirect, and Pura Vida. The company offers bag products, such as totes, crossbodies, satchels, clutches, backpacks, baby bags, and lunch bags; accessories, including ID holders, lanyards, wallets, wristlets, eyewear, scarves, hair accessories, and various technology accessories; bracelets, rings, and necklaces under Pura Vida brand name; and travel products consist of rolling luggage, cosmetics, and travel and packing accessories, as well as travel bags comprising duffel and weekend bags.