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

Vera Bradley (NASDAQ:VRA) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Monday.

VRA has been the topic of a number of other research reports. Noble Financial upped their target price on shares of Vera Bradley from $8.00 to $10.00 and gave the company an “outperform” rating in a research note on Thursday, August 31st. TheStreet raised shares of Vera Bradley from a “d+” rating to a “c” rating in a research note on Wednesday, August 30th.

Vera Bradley Trading Up 2.6 %

VRA traded up $0.17 during trading on Monday, hitting $6.68. The stock had a trading volume of 269,055 shares, compared to its average volume of 269,603. The company has a 50 day simple moving average of $6.66 and a 200-day simple moving average of $6.01. Vera Bradley has a 12 month low of $2.84 and a 12 month high of $7.73. The firm has a market cap of $205.90 million, a PE ratio of -11.32 and a beta of 2.02.

Vera Bradley (NASDAQ:VRA) last posted its quarterly earnings data on Wednesday, August 30th. The textile maker reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.21. Vera Bradley had a negative net margin of 3.73% and a positive return on equity of 7.28%. The company had revenue of $128.17 million for the quarter, compared to the consensus estimate of $130.95 million. During the same quarter in the previous year, the firm posted $0.08 EPS. As a group, sell-side analysts anticipate that Vera Bradley will post 0.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Vera Bradley

Large investors have recently modified their holdings of the stock. Harbor Capital Advisors Inc. bought a new stake in shares of Vera Bradley during the second quarter worth approximately $29,000. Quadrature Capital Ltd raised its stake in shares of Vera Bradley by 43.2% during the third quarter. Quadrature Capital Ltd now owns 14,897 shares of the textile maker’s stock worth $45,000 after buying an additional 4,494 shares during the last quarter. Citigroup Inc. bought a new stake in shares of Vera Bradley during the second quarter worth approximately $50,000. California State Teachers Retirement System bought a new stake in shares of Vera Bradley during the second quarter worth approximately $56,000. Finally, Verition Fund Management LLC bought a new stake in shares of Vera Bradley during the fourth quarter worth approximately $63,000. 54.80% of the stock is currently owned by institutional investors and hedge funds.

Vera Bradley Company Profile

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.