StockNews.com Lowers Vera Bradley (NASDAQ:VRA) to Buy

StockNews.com downgraded shares of Vera Bradley (NASDAQ:VRA) from a strong-buy rating to a buy rating in a research report report published on Sunday.

Vera Bradley Price Performance

Shares of NASDAQ:VRA opened at $6.62 on Friday. Vera Bradley has a 1-year low of $4.60 and a 1-year high of $8.35. The company has a market capitalization of $203.83 million, a P/E ratio of 26.48 and a beta of 1.89. The firm’s 50 day simple moving average is $6.91 and its two-hundred day simple moving average is $7.24.

Vera Bradley (NASDAQ:VRA) last released its earnings results on Wednesday, March 13th. The textile maker reported $0.11 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.04). Vera Bradley had a return on equity of 6.69% and a net margin of 1.66%. The company had revenue of $133.27 million during the quarter, compared to analysts’ expectations of $136.06 million. On average, sell-side analysts anticipate that Vera Bradley will post 0.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vera Bradley

Hedge funds have recently bought and sold shares of the business. Ritholtz Wealth Management increased its position in Vera Bradley by 42.3% during the third quarter. Ritholtz Wealth Management now owns 73,850 shares of the textile maker’s stock valued at $488,000 after acquiring an additional 21,937 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Vera Bradley by 53.9% in the third quarter. Bank of New York Mellon Corp now owns 194,830 shares of the textile maker’s stock worth $1,288,000 after purchasing an additional 68,199 shares during the last quarter. Strs Ohio grew its holdings in Vera Bradley by 38.6% during the 3rd quarter. Strs Ohio now owns 78,700 shares of the textile maker’s stock worth $520,000 after acquiring an additional 21,900 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in Vera Bradley during the 3rd quarter worth about $44,000. Finally, Panagora Asset Management Inc. bought a new position in Vera Bradley during the 3rd quarter worth about $83,000. Hedge funds and other institutional investors own 59.88% 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 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 consisting of rolling luggage, cosmetics, and travel and packing accessories, as well as travel bags comprising duffel and weekend bags.