Vera Bradley (NASDAQ:VRA) Upgraded to “Buy” by BidaskClub

BidaskClub upgraded shares of Vera Bradley (NASDAQ:VRA) from a hold rating to a buy rating in a research note released on Tuesday, BidAskClub reports.

Several other analysts have also issued reports on VRA. Zacks Investment Research reiterated a buy rating and set a $12.00 price target on shares of Vera Bradley in a research report on Saturday, June 15th. ValuEngine lowered shares of Vera Bradley from a buy rating to a hold rating in a research report on Saturday, May 18th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $11.50.

NASDAQ VRA opened at $10.00 on Tuesday. The company has a current ratio of 4.15, a quick ratio of 2.53 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $394.14 million, a price-to-earnings ratio of 16.95 and a beta of 0.83. The firm’s 50 day simple moving average is $11.30 and its 200 day simple moving average is $11.35. Vera Bradley has a 1 year low of $7.94 and a 1 year high of $17.38.

Vera Bradley (NASDAQ:VRA) last posted its quarterly earnings results on Wednesday, June 5th. The textile maker reported ($0.07) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.07). The business had revenue of $91.00 million for the quarter, compared to analyst estimates of $87.95 million. Vera Bradley had a net margin of 4.69% and a return on equity of 6.76%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.04) EPS. On average, equities research analysts forecast that Vera Bradley will post 0.7 earnings per share for the current year.

In other Vera Bradley news, insider Robert J. Hall sold 66,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $11.10, for a total value of $738,150.00. Following the sale, the insider now owns 78,093 shares in the company, valued at $866,832.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Anne Marie Ray sold 70,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $11.57, for a total transaction of $809,900.00. The disclosure for this sale can be found here. Insiders have sold a total of 203,000 shares of company stock worth $2,289,875 in the last quarter. 27.30% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of VRA. Oppenheimer Asset Management Inc. lifted its holdings in shares of Vera Bradley by 9.2% during the first quarter. Oppenheimer Asset Management Inc. now owns 10,552 shares of the textile maker’s stock worth $140,000 after purchasing an additional 892 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in shares of Vera Bradley by 67.2% during the first quarter. BNP Paribas Arbitrage SA now owns 4,744 shares of the textile maker’s stock worth $63,000 after purchasing an additional 1,907 shares during the period. Quantamental Technologies LLC acquired a new position in shares of Vera Bradley during the first quarter worth $32,000. Aperio Group LLC acquired a new position in shares of Vera Bradley during the second quarter worth $37,000. Finally, Sterling Investment Advisors Ltd. acquired a new position in shares of Vera Bradley during the second quarter worth $48,000. Hedge funds and other institutional investors own 66.45% of the company’s stock.

About Vera Bradley

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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