Vera Bradley (NASDAQ:VRA) Rating Lowered to Sell at BidaskClub

Vera Bradley (NASDAQ:VRA) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Friday, BidAskClub reports.

Several other brokerages have also recently issued reports on VRA. ValuEngine cut Zymeworks from a “buy” rating to a “hold” rating in a research report on Saturday, May 18th. Zacks Investment Research cut Zai Lab from a “buy” rating to a “hold” rating in a research report on Saturday, June 15th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $11.50.

VRA opened at $11.38 on Friday. Vera Bradley has a 12 month low of $7.94 and a 12 month high of $17.38. The company has a current ratio of 4.15, a quick ratio of 2.53 and a debt-to-equity ratio of 0.41. The firm has a market cap of $381.83 million, a PE ratio of 19.29 and a beta of 0.86. The firm has a 50 day simple moving average of $11.47.

Vera Bradley (NASDAQ:VRA) last posted its earnings results on Wednesday, June 5th. The textile maker reported ($0.07) EPS for the quarter, meeting the consensus estimate of ($0.07). Vera Bradley had a return on equity of 6.76% and a net margin of 4.69%. The firm had revenue of $91.00 million for the quarter, compared to analysts’ expectations of $87.95 million. During the same period last year, the firm earned ($0.04) EPS. The firm’s revenue was up 5.1% compared to the same quarter last year. As a group, equities analysts predict that Vera Bradley will post 0.7 EPS for the current fiscal year.

In related news, insider Anne Marie Ray sold 28,378 shares of Vera Bradley stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $12.50, for a total value of $354,725.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Bradley Baekgaard Fami Barbara sold 16,412 shares of Vera Bradley stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $11.36, for a total value of $186,440.32. Following the completion of the transaction, the insider now owns 139,740 shares in the company, valued at $1,587,446.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 374,702 shares of company stock worth $4,364,154. 27.30% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Oppenheimer Asset Management Inc. grew its holdings in shares of Vera Bradley by 9.2% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 10,552 shares of the textile maker’s stock worth $140,000 after acquiring an additional 892 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of Vera Bradley by 67.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 4,744 shares of the textile maker’s stock worth $63,000 after acquiring an additional 1,907 shares during the last quarter. Stone Ridge Asset Management LLC grew its holdings in shares of Vera Bradley by 2.1% in the 4th quarter. Stone Ridge Asset Management LLC now owns 94,659 shares of the textile maker’s stock worth $811,000 after acquiring an additional 1,955 shares during the last quarter. Quantamental Technologies LLC acquired a new position in shares of Vera Bradley in the 1st quarter worth $32,000. Finally, United Services Automobile Association grew its holdings in shares of Vera Bradley by 20.6% in the 4th quarter. United Services Automobile Association now owns 14,741 shares of the textile maker’s stock worth $126,000 after acquiring an additional 2,518 shares during the last quarter. Institutional investors and hedge funds own 66.98% of the company’s stock.

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 two segments, Direct and Indirect. The company offers totes, crossbodies, satchels, clutches, backpacks, baby bags, and lunch bags; accessories, including wallets, wristlets, eyeglass cases, scarves, and various technology accessories; and travel products, such as rolling luggage, cosmetics, and travel and packing accessories, as well as travel bags comprising duffel and weekend bags.

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