Vera Bradley (NASDAQ:VRA) Rating Lowered to Buy at StockNews.com

Vera Bradley (NASDAQ:VRA) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Tuesday.

Vera Bradley Trading Up 0.2 %

Shares of Vera Bradley stock opened at $6.60 on Tuesday. The business’s fifty day simple moving average is $6.81 and its 200 day simple moving average is $7.24. The firm has a market capitalization of $203.00 million, a P/E ratio of 26.40 and a beta of 1.89. Vera Bradley has a 12 month low of $4.60 and a 12 month high of $8.35.

Vera Bradley (NASDAQ:VRA) last issued its earnings results on Wednesday, March 13th. The textile maker reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.04). The firm had revenue of $133.27 million during the quarter, compared to the consensus estimate of $136.06 million. Vera Bradley had a net margin of 1.66% and a return on equity of 6.69%. Analysts predict that Vera Bradley will post 0.63 EPS for the current fiscal year.

Institutional Trading of Vera Bradley

Hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new stake in shares of Vera Bradley in the third quarter valued at $44,000. Harbor Capital Advisors Inc. grew its position in shares of Vera Bradley by 73.7% in the fourth quarter. Harbor Capital Advisors Inc. now owns 7,174 shares of the textile maker’s stock valued at $55,000 after purchasing an additional 3,044 shares in the last quarter. LSV Asset Management purchased a new position in shares of Vera Bradley in the fourth quarter valued at $56,000. Tower Research Capital LLC TRC grew its position in shares of Vera Bradley by 258.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,017 shares of the textile maker’s stock valued at $69,000 after purchasing an additional 6,503 shares in the last quarter. Finally, Clear Street Markets LLC purchased a new position in shares of Vera Bradley in the fourth quarter valued at $94,000. 59.88% of the stock is currently owned by institutional investors.

About Vera Bradley

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 three segments: Vera Bradley Direct, Vera Bradley Indirect, and Pura Vida. The company offers bag products, such as totes, crossbodies, satchels, clutches, backpacks, baby bags, and lunch bags; accessories, including ID holders, lanyards, wallets, wristlets, eyewear, scarves, hair accessories, and various technology accessories; bracelets, rings, and necklaces under Pura Vida brand name; and travel products consisting of rolling luggage, cosmetics, and travel and packing accessories, as well as travel bags comprising duffel and weekend bags.