Wunderlich reaffirmed their buy rating on shares of Vera Bradley, Inc. (NASDAQ:VRA) in a research note issued to investors on Saturday morning. The brokerage currently has a $11.00 price objective on the textile maker’s stock.
VRA has been the topic of several other reports. Zacks Investment Research raised shares of Vera Bradley from a sell rating to a hold rating in a research report on Tuesday, December 20th. Cowen and Company reissued a market perform rating and set a $9.00 target price (down from $14.00) on shares of Vera Bradley in a research report on Saturday, March 11th. Finally, Telsey Advisory Group reissued a market perform rating and set a $11.00 target price (down from $14.00) on shares of Vera Bradley in a research report on Thursday, March 9th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $13.00.
Shares of Vera Bradley (NASDAQ:VRA) traded down 2.06% on Friday, hitting $9.05. The stock had a trading volume of 192,175 shares. The firm’s 50-day moving average is $9.06 and its 200-day moving average is $11.84. The company has a market cap of $327.43 million, a price-to-earnings ratio of 17.08 and a beta of 0.96. Vera Bradley has a one year low of $8.40 and a one year high of $18.27.
Vera Bradley (NASDAQ:VRA) last posted its quarterly earnings results on Wednesday, March 8th. The textile maker reported $0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.05. Vera Bradley had a net margin of 6.34% and a return on equity of 11.15%. The business had revenue of $134.80 million for the quarter, compared to the consensus estimate of $137.34 million. During the same period in the prior year, the business posted $0.41 earnings per share. Vera Bradley’s revenue for the quarter was down 12.5% compared to the same quarter last year. On average, analysts expect that Vera Bradley will post $0.44 EPS for the current fiscal year.
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In related news, major shareholder Michael C. Ray sold 35,000 shares of the stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $9.25, for a total value of $323,750.00. Following the completion of the sale, the insider now owns 234,632 shares in the company, valued at $2,170,346. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Michael C. Ray sold 40,000 shares of the stock in a transaction dated Monday, March 20th. The shares were sold at an average price of $9.32, for a total transaction of $372,800.00. Following the completion of the sale, the insider now owns 222,362 shares of the company’s stock, valued at approximately $2,072,413.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 190,410 shares of company stock worth $1,752,002. 40.90% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Fox Run Management L.L.C. acquired a new position in shares of Vera Bradley during the third quarter worth approximately $176,000. Capital One National Association boosted its position in shares of Vera Bradley by 4.1% in the third quarter. Capital One National Association now owns 23,949 shares of the textile maker’s stock worth $363,000 after buying an additional 936 shares in the last quarter. Isthmus Partners LLC boosted its position in shares of Vera Bradley by 4.0% in the third quarter. Isthmus Partners LLC now owns 31,533 shares of the textile maker’s stock worth $455,000 after buying an additional 1,201 shares in the last quarter. First Trust Advisors LP acquired a new position in shares of Vera Bradley during the third quarter worth approximately $161,000. Finally, KBC Group NV boosted its position in shares of Vera Bradley by 82.9% in the third quarter. KBC Group NV now owns 38,141 shares of the textile maker’s stock worth $578,000 after buying an additional 17,291 shares in the last quarter. Hedge funds and other institutional investors own 55.55% of the company’s stock.
About Vera Bradley
Vera Bradley, Inc 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. It offers an assortment of products, including bags, such as purses, totes and backpacks; accessories, such as wallets, wristlets, phone cases and technology accessories; travel and travel accessories, such as weekend bags, duffel bags and cosmetic bags, and home, such as mugs, tumblers and textiles, including aprons, beach towels, throw blankets and comforters.
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