Vera Bradley (NASDAQ:VRA) Upgraded by Wall Street Zen to Strong-Buy Rating

Wall Street Zen upgraded shares of Vera Bradley (NASDAQ:VRA) from a hold rating to a strong-buy rating in a research note published on Saturday,Wall Street Zen reports.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Vera Bradley in a report on Friday, September 11th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Vera Bradley has a consensus rating of “Reduce”.

Vera Bradley Stock Performance

Vera Bradley stock opened at $4.25 on Friday. Vera Bradley has a fifty-two week low of $1.39 and a fifty-two week high of $4.54. The stock’s 50 day simple moving average is $3.48 and its two-hundred day simple moving average is $3.52. The stock has a market cap of $121.93 million, a price-to-earnings ratio of -11.49 and a beta of 1.59.

Vera Bradley (NASDAQ:VRA) last announced its earnings results on Tuesday, September 15th. The textile maker reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.19. The firm had revenue of $71.65 million during the quarter, compared to analyst estimates of $65.95 million. Vera Bradley had a negative return on equity of 3.80% and a negative net margin of 3.66%.During the same quarter in the prior year, the company earned ($0.17) EPS. On average, analysts predict that Vera Bradley will post -0.28 earnings per share for the current year.

Institutional Investors Weigh In On Vera Bradley

A number of institutional investors have recently made changes to their positions in VRA. Arrowstreet Capital Limited Partnership raised its holdings in Vera Bradley by 31.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,038,807 shares of the textile maker’s stock worth $3,283,000 after acquiring an additional 249,161 shares during the last quarter. BlackRock Inc. bought a new position in Vera Bradley in the 2nd quarter valued at approximately $1,686,000. Impala Asset Management LLC purchased a new stake in Vera Bradley during the 4th quarter valued at $976,000. Saba Capital Management L.P. purchased a new stake in Vera Bradley during the 1st quarter valued at $916,000. Finally, Renaissance Technologies LLC increased its holdings in shares of Vera Bradley by 7.0% in the 1st quarter. Renaissance Technologies LLC now owns 221,716 shares of the textile maker’s stock worth $701,000 after purchasing an additional 14,500 shares in the last quarter. Hedge funds and other institutional investors own 59.88% of the company’s stock.

About Vera Bradley

Vera Bradley, Inc is a lifestyle and accessories company best known for its colorful, patterned handbags and travel products. Its merchandise includes totes, crossbody bags, backpacks, wallets, accessories, luggage, apparel, home goods and gifts, with collections designed for everyday use, travel and personal style.

The company operates primarily through the Vera Bradley brand and Pura Vida, a lifestyle brand offering bracelets, jewelry, accessories and related products. Vera Bradley sells its products through company-operated stores, outlet locations, e-commerce websites and wholesale partners, including specialty retailers and department stores.