Vera Bradley, Inc. (VRA) Receives $10.60 Average Target Price from Brokerages
Vera Bradley, Inc. (NASDAQ:VRA) has been assigned an average rating of “Hold” from the eight ratings firms that are currently covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $10.60.
A number of equities research analysts have issued reports on VRA shares. BidaskClub lowered Vera Bradley from a “hold” rating to a “sell” rating in a research note on Wednesday, September 13th. Jefferies Group LLC reiterated a “hold” rating and issued a $10.00 price target on shares of Vera Bradley in a research note on Friday, July 14th. Zacks Investment Research lowered Vera Bradley from a “hold” rating to a “sell” rating in a research note on Thursday, June 15th. FBR & Co reiterated an “outperform” rating and issued a $12.00 price target on shares of Vera Bradley in a research note on Tuesday, July 11th. Finally, KeyCorp reiterated a “hold” rating on shares of Vera Bradley in a research note on Friday, August 25th.
In other Vera Bradley news, major shareholder Michael C. Ray sold 237,500 shares of the stock in a transaction dated Tuesday, September 5th. The shares were 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 approximately $993,459.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 40.90% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its holdings in shares of Vera Bradley by 22.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,226,704 shares of the textile maker’s stock valued at $21,776,000 after acquiring an additional 413,983 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Vera Bradley by 35.8% in the 1st quarter. Renaissance Technologies LLC now owns 1,891,800 shares of the textile maker’s stock valued at $17,613,000 after acquiring an additional 498,950 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Vera Bradley by 12.6% in the 1st quarter. Vanguard Group Inc. now owns 1,741,621 shares of the textile maker’s stock valued at $16,215,000 after acquiring an additional 194,971 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Vera Bradley by 18.6% in the 1st quarter. Bank of New York Mellon Corp now owns 1,190,086 shares of the textile maker’s stock valued at $11,079,000 after acquiring an additional 186,986 shares during the last quarter. Finally, FMR LLC lifted its holdings in shares of Vera Bradley by 14.9% in the 2nd quarter. FMR LLC now owns 965,051 shares of the textile maker’s stock valued at $9,438,000 after acquiring an additional 125,051 shares during the last quarter. 60.60% of the stock is owned by institutional investors and hedge funds.
Vera Bradley (VRA) traded up 1.85% during midday trading on Wednesday, reaching $8.81. The company had a trading volume of 263,866 shares. The company has a market capitalization of $316.85 million, a price-to-earnings ratio of 31.13 and a beta of 0.90. The firm has a 50-day moving average price of $9.37 and a 200-day moving average price of $9.09. Vera Bradley has a 52 week low of $7.70 and a 52 week high of $16.19.
Vera Bradley (NASDAQ:VRA) last issued its quarterly earnings results on Wednesday, August 30th. The textile maker reported $0.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.03. Vera Bradley had a return on equity of 6.64% and a net margin of 2.21%. The business had revenue of $112.42 million during the quarter, compared to analyst estimates of $111.72 million. During the same quarter in the prior year, the business posted $0.17 EPS. Vera Bradley’s revenue for the quarter was down 5.7% compared to the same quarter last year. Analysts expect that Vera Bradley will post $0.47 EPS for the current fiscal year.
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About Vera Bradley
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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