Vera Bradley, Inc. (NASDAQ:VRA) shares hit a new 52-week low during mid-day trading on Monday . The company traded as low as $7.64 and last traded at $7.66, with a volume of 126,797 shares traded. The stock had previously closed at $7.81.

VRA has been the topic of a number of recent analyst reports. BidaskClub downgraded shares of Vera Bradley from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. Zacks Investment Research upgraded shares of Vera Bradley from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. FBR & Co restated an “outperform” rating and issued a $12.00 price target on shares of Vera Bradley in a research report on Tuesday, July 11th. Jefferies Group LLC restated a “hold” rating and issued a $11.00 price target on shares of Vera Bradley in a research report on Thursday, October 12th. Finally, KeyCorp restated a “hold” rating on shares of Vera Bradley in a research report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $10.80.

The stock’s 50-day moving average price is $8.60 and its 200-day moving average price is $8.99. The company has a market cap of $276.57 million, a P/E ratio of 27.17 and a beta of 0.86.

Vera Bradley (NASDAQ:VRA) last announced its quarterly earnings results on Wednesday, August 30th. The textile maker reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.03. Vera Bradley had a return on equity of 6.64% and a net margin of 2.21%. The company had revenue of $112.42 million during the quarter, compared to analyst estimates of $111.72 million. During the same quarter last year, the firm posted $0.17 earnings per share. The firm’s revenue was down 5.7% on a year-over-year basis. Analysts expect that Vera Bradley, Inc. will post $0.47 earnings per share for the current fiscal year.

In other Vera Bradley news, major shareholder Michael C. Ray sold 237,500 shares of the firm’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $8.23, for a total transaction of $1,954,625.00. Following the completion of the transaction, the insider now owns 120,712 shares of the company’s stock, valued at $993,459.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kimberly F. Colby sold 170,000 shares of the firm’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $8.47, for a total value of $1,439,900.00. Following the transaction, the executive vice president now directly owns 21,655 shares of the company’s stock, valued at approximately $183,417.85. The disclosure for this sale can be found here. Company insiders own 39.60% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Comerica Bank lifted its position in Vera Bradley by 1.6% during the first quarter. Comerica Bank now owns 21,265 shares of the textile maker’s stock valued at $197,000 after buying an additional 335 shares during the period. Morgan Stanley lifted its position in Vera Bradley by 20.6% during the first quarter. Morgan Stanley now owns 135,331 shares of the textile maker’s stock valued at $1,259,000 after buying an additional 23,101 shares during the period. Geode Capital Management LLC lifted its position in Vera Bradley by 20.4% during the first quarter. Geode Capital Management LLC now owns 201,508 shares of the textile maker’s stock valued at $1,875,000 after buying an additional 34,134 shares during the period. Russell Investments Group Ltd. lifted its position in Vera Bradley by 25.6% during the second quarter. Russell Investments Group Ltd. now owns 67,259 shares of the textile maker’s stock valued at $658,000 after buying an additional 13,700 shares during the period. Finally, Systematic Financial Management LP lifted its position in Vera Bradley by 31.9% during the second quarter. Systematic Financial Management LP now owns 192,985 shares of the textile maker’s stock valued at $1,887,000 after buying an additional 46,625 shares during the period. 60.60% of the stock is owned by institutional investors and hedge funds.

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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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