Vera Bradley, Inc. (VRA) Given a $12.00 Price Target at FBR & Co
“We are reiterating our Buy rating, estimates, and $12 price target on Vera Bradley with the company announcing 2Q results before the open on Wednesday, August 30. With the handbag segment remaining in flux, we believe Vera Bradley has continued to make progress, but we do not expect material YOY positives until the holiday season. That said, we expect management to continue to control the controllables,” and we expect that the rollout of new cotton designs and back-to- school could be key drivers for the company. Further, with Street expectations near rock bottom (we are the only Buy rating on the sell-side), we believe any signs of life will propel VRA forward.”,” the firm’s analyst wrote.
Several other analysts have also weighed in on the company. Zacks Investment Research upgraded Vera Bradley from a sell rating to a hold rating in a report on Tuesday, May 16th. Jefferies Group LLC set a $10.00 price objective on Vera Bradley and gave the company a hold rating in a report on Wednesday, May 31st. KeyCorp restated a hold rating on shares of Vera Bradley in a report on Friday. Finally, BidaskClub lowered Vera Bradley from a hold rating to a sell rating in a report on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. Vera Bradley currently has an average rating of Hold and a consensus price target of $11.83.
Shares of Vera Bradley (VRA) opened at 10.13 on Monday. Vera Bradley has a 52 week low of $7.70 and a 52 week high of $17.20. The firm’s 50-day moving average is $9.70 and its 200 day moving average is $9.29. The firm has a market capitalization of $366.24 million, a PE ratio of 27.83 and a beta of 0.87.
Vera Bradley (NASDAQ:VRA) last announced its quarterly earnings results on Wednesday, May 31st. The textile maker reported ($0.09) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.04. Vera Bradley had a return on equity of 7.18% and a net margin of 2.79%. The company had revenue of $96.10 million during the quarter, compared to analyst estimates of $96.62 million. During the same quarter in the previous year, the firm posted $0.06 EPS. The firm’s quarterly revenue was down 8.7% on a year-over-year basis. On average, equities analysts forecast that Vera Bradley will post $0.44 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of VRA. Teton Advisors Inc. acquired a new position in Vera Bradley during the second quarter valued at $102,000. O Shaughnessy Asset Management LLC acquired a new position in Vera Bradley during the first quarter valued at $101,000. LMR Partners LLP acquired a new position in Vera Bradley during the second quarter valued at $115,000. Koch Industries Inc. acquired a new position in Vera Bradley during the first quarter valued at $112,000. Finally, Voya Investment Management LLC raised its position in Vera Bradley by 29.4% in the second quarter. Voya Investment Management LLC now owns 13,261 shares of the textile maker’s stock valued at $130,000 after buying an additional 3,014 shares during the last quarter. 60.63% of the stock is currently owned by hedge funds and other institutional investors.
Vera Bradley Company Profile
Vera Bradley, Inc (Vera Bradley) is a designer of women’s handbags, accessories, luggage and travel items, eyewear, and stationery and gifts. The Company’s segments include Direct and Indirect. The Company offers various products, including bags, travel, home and accessories. Its accessories include fashion accessories, such as wallets, eyeglass cases, jewelry, and scarves and various technology accessories.
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