Vera Bradley (NASDAQ: VRA) Cut to D+ on TheStreet

TheStreet lowered shares Vera Bradley (NASDAQ: VRA – Get Rating) From an ac rating to a d+ rating in a research report released Tuesday morning, TheStreetRatingsTable reports.

A number of other analysts have also recently issued reports on VRA. Telsey Advisory Group dropped its price target on Vera Bradley from $9.00 to $7.00 and set a market performance rating for the stock in a report on Thursday, June 9th. Noble Financial took over Vera Bradley in a report on Thursday, June 16th. They issued an outperform rating and a target price of $8.00 per share. Finally, lowered Vera Bradley from a buy rating to a hold rating in a report on Friday, June 17th. Three equities research analysts have rated the stock with a hold rating and one has given the company a buy rating. Based on MarketBeat data, the company currently has a consensus rating of Hold and a target price of $9.00.

Nasdaq Stocks: VRA opened at $4.77 on Tuesday. The company has a market capitalization of $150.05 million, a PE ratio of 12.89 and a beta of 1.78. The business has a fifty-day moving average of $6.07 and a two hundred day moving average of $7.29. Vera Bradley recorded a one-year low of $4.28 and a one-year high of $12.58.

Vera Bradley (NASDAQ: VRA – Get Rating) released its latest quarterly earnings results on Wednesday, June 8th. The textile maker reported ($0.19) earnings per share for the quarter, below analyst consensus estimates of ($0.16) by ($0.03). Vera Bradley’s net profit margin is 2.46% and return on equity is 4.74%. The company generated revenue of $98.50 million for the quarter, compared to analysts’ expectations of $109.87 million. During the same period in the previous year, the company earned ($0.05) EPS. The company’s quarterly revenue decreased 9.7% year over year. On average, sell-side analysts expect Vera Bradley to report 0.42 earnings per share for the current year.
Institutional investors and hedge funds have recently bought and sold shares of stock. New York Metropolitan Life Insurance Corporation purchased a new stake in Vera Bradley in the third quarter for approximately $69,000. American Century Companies Inc. A new stake in Vera Bradley in the first quarter valued at approximately $80,000. The State of Maryland Retirement and Pension System purchased a new position in stock of Vera Bradley Inc in the fourth quarter valued at approximately $86,000. Allspring Global Investments Holdings LLC purchased new shares of Vera Bradley in the 4th quarter valued at approximately $91,000. Finally, Voya Investment Management LLC purchased a new position in shares of Vera Bradley in the 3rd quarter valued at approximately $96,000. Institutional investors and hedge funds own 70.79% of the company’s stock.

About Vera Bradley (Get Rating)

Vera Bradley, Inc, along with its subsidiaries, designs, manufactures and sells women’s handbags, luggage, travel tools, fashion, home accessories and gifts. It operates through three divisions: Vera Bradley Direct, Vera Bradley Indirect, and Pura Vida. The company offers bag products, such as handbags, crossbody bags, briefcases, backpacks, backpacks, kids’ bags and lunch bags; accessories, including wallets, wristwatches, eyeglass cases, scarves, and various technology accessories; bracelets, rings, and necklaces bearing the brand name Pura Vida; and travel products consisting of travel bags, cosmetics, travel accessories and packing, as well as travel bags that include duffel bags and weekend bags.

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