Vera Bradley (NASDAQ:VRA) Downgraded by StockNews.com to “Hold”

Posted by on Jun 17th, 2022

Vera Bradley (NASDAQ:VRA – Get Rating) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

VRA has been the subject of several other reports. Noble Financial began coverage on Vera Bradley in a report on Thursday. They issued an “outperform” rating and a $8.00 price objective for the company. Telsey Advisory Group reduced their target price on shares of Vera Bradley from $9.00 to $7.00 and set a “market perform” rating for the company in a report on Thursday, June 9th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Vera Bradley has a consensus rating of “Hold” and an average price target of $9.00.

Shares of VRA opened at $4.67 on Friday. The firm has a market capitalization of $146.91 million, a P/E ratio of 12.62 and a beta of 1.78. Vera Bradley has a 12-month low of $4.28 and a 12-month high of $12.58. The firm has a fifty day moving average price of $6.28 and a 200-day moving average price of $7.46.

Vera Bradley (NASDAQ:VRA – Get Rating) last issued its earnings results on Wednesday, June 8th. The textile maker reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.03). The company had revenue of $98.50 million for the quarter, compared to analysts’ expectations of $109.87 million. Vera Bradley had a net margin of 2.46% and a return on equity of 4.74%. The firm’s revenue for the quarter was down 9.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.05) earnings per share. As a group, equities analysts forecast that Vera Bradley will post 0.41 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its position in Vera Bradley by 3.2% in the fourth quarter. BlackRock Inc. now owns 4,430,910 shares of the textile maker’s stock valued at $37,708,000 after buying an additional 135,786 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Vera Bradley by 2.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,321,921 shares of the textile maker’s stock worth $17,809,000 after purchasing an additional 51,122 shares in the last quarter. Vanguard Group Inc. boosted its position in Vera Bradley by 8.4% in the 1st quarter. Vanguard Group Inc. now owns 1,774,779 shares of the textile maker’s stock worth $13,613,000 after purchasing an additional 137,181 shares in the last quarter. Royce & Associates LP boosted its position in Vera Bradley by 5.8% in the 1st quarter. Royce & Associates LP now owns 1,735,645 shares of the textile maker’s stock worth $13,312,000 after purchasing an additional 94,854 shares in the last quarter. Finally, State Street Corp boosted its position in Vera Bradley by 2.0% in the 1st quarter. State Street Corp now owns 869,226 shares of the textile maker’s stock worth $6,667,000 after purchasing an additional 17,024 shares in the last quarter. Hedge funds and other institutional investors own 70.79% of the company’s stock.

Vera Bradley Company Profile (Get Rating)

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 wallets, wristlets, eyeglass cases, scarves, 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.

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