Vera Bradley (NASDAQ:VRA) downgraded by TheStreet to D+

Vera Bradley (NASDAQ:VRA – Get Ranked) was downgraded by TheStreet stock researchers from a “c” rating to a “d+” rating in a research report released Tuesday, reports TheStreetRatingsTable.

VRA has been the subject of several other research reports. Noble Financial began coverage of Vera Bradley’s stock in a report on Thursday, June 16th. They issued a “superior performance” rating and an $8.00 price target for the stock. Telsey Advisory Group lowered the target price of Vera Bradley’s stock from $9.00 to $7.00 and set a “market performance” rating for the stock in a report on Thursday, June 9. . Finally, StockNews.com downgraded Vera Bradley’s stock from a “buy” rating to a “hold” rating in a report on Friday, June 17th. Three equity research analysts rated the stock a hold rating and one issued a buy rating for the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $9.00.

NASDAQ:VRA shares opened at $4.63 on Tuesday. The company’s fifty-day moving average price is $6.11 and the 200-day moving average price is $7.32. Vera Bradley has a 12-month low of $4.28 and a 12-month high of $12.58. The company has a market capitalization of $145.65 million, a P/E ratio of 12.51 and a beta of 1.78.

Vera Bradley (NASDAQ:VRA – Get Rating) last released her quarterly earnings data on Wednesday, June 8. The textile maker reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.03). Vera Bradley had a return on equity of 4.74% and a net margin of 2.46%. The business had revenue of $98.50 million in the quarter, compared with analysts’ expectations of $109.87 million. During the same period last year, the company reported ($0.05) earnings per share. The company’s revenue for the quarter was down 9.7% year-over-year. Research analysts anticipate that Vera Bradley will post 0.42 EPS for the current fiscal year.

Several large investors have recently bought and sold shares in the company. The Royal Bank of Canada increased its position in Vera Bradley shares by 20.8% in the first quarter. Royal Bank of Canada now owns 153,558 shares of the textile maker valued at $1,177,000 after buying an additional 26,451 shares during the last quarter. Guggenheim Capital LLC increased its position in Vera Bradley shares by 42.3% in the first quarter. Guggenheim Capital LLC now owns 42,572 shares of the textile maker valued at $326,000 after purchasing an additional 12,646 shares during the last quarter. State Street Corp increased its position in Vera Bradley shares by 2.0% in the first quarter. State Street Corp now owns 869,226 shares of the textile maker valued at $6,667,000 after buying an additional 17,024 shares during the last quarter. Engineers Gate Manager LP increased its position in Vera Bradley by 48.3% during the first quarter. Engineers Gate Manager LP now owns 18,369 shares of the textile manufacturer worth $141,000 after purchasing an additional 5,985 shares during the last quarter. Finally, Invesco Ltd. increased its position in Vera Bradley by 7.7% during the first quarter. Investo Ltd. now owns 515,651 shares of the textile manufacturer worth $3,955,000 after purchasing an additional 36,713 shares during the last quarter. 70.79% of the shares are owned by institutional investors and hedge funds.

Company Profile Vera Bradley (Get Rating)

Vera Bradley, Inc, along with its subsidiaries, designs, manufactures and sells women’s bags, luggage and travel items, fashion and home accessories and gifts. It operates through three segments: Vera Bradley Direct, Vera Bradley Indirect and Pura Vida. The company offers handbag products, such as tote bags, crossbodies, backpacks, clutches, backpacks, baby bags and lunch boxes; accessories, including wallets, bracelets, eyeglass cases, scarves and various technological accessories; Pura Vida brand bracelets, rings and necklaces; and travel products consisting of suitcases, cosmetics and travel and packaging accessories, as well as suitcases consisting of backpacks and weekend bags.

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