Vera Bradley (VRA) Cut to “Sell” at BidaskClub

BidaskClub downgraded shares of Vera Bradley (NASDAQ:VRA) from a hold rating to a sell rating in a report issued on Tuesday morning.

Several other brokerages have also commented on VRA. TheStreet raised shares of Vera Bradley from a c rating to a b rating in a research report on Thursday, September 6th. Zacks Investment Research raised shares of Vera Bradley from a hold rating to a buy rating and set a $19.00 price objective for the company in a research report on Saturday, September 8th. Finally, Telsey Advisory Group increased their price objective on shares of Vera Bradley from $15.00 to $17.00 and gave the company a market perform rating in a research report on Thursday, September 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. Vera Bradley has an average rating of Hold and an average price target of $14.25.

NASDAQ:VRA opened at $13.33 on Tuesday. Vera Bradley has a fifty-two week low of $6.99 and a fifty-two week high of $17.38. The stock has a market capitalization of $539.54 million, a PE ratio of 22.38 and a beta of 0.35.

Vera Bradley (NASDAQ:VRA) last released its quarterly earnings results on Wednesday, September 5th. The textile maker reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.10. Vera Bradley had a net margin of 3.76% and a return on equity of 9.82%. The business had revenue of $113.60 million for the quarter, compared to analysts’ expectations of $113.14 million. During the same period last year, the business earned $0.13 EPS. The company’s revenue was up 1.1% compared to the same quarter last year. On average, sell-side analysts predict that Vera Bradley will post 0.6 earnings per share for the current fiscal year.

In other Vera Bradley news, Director P. Michael Miller sold 600,000 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $15.09, for a total transaction of $9,054,000.00. Following the completion of the transaction, the director now directly owns 85,156 shares of the company’s stock, valued at approximately $1,285,004.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Michael C. Ray sold 2,429 shares of the firm’s stock in a transaction that occurred on Tuesday, July 24th. The stock was sold at an average price of $13.80, for a total transaction of $33,520.20. Following the transaction, the insider now directly owns 94,743 shares of the company’s stock, valued at $1,307,453.40. The disclosure for this sale can be found here. Insiders sold a total of 1,234,696 shares of company stock valued at $18,558,563 over the last ninety days. 30.10% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. North Fourth Asset Management LP purchased a new position in Vera Bradley during the 2nd quarter worth approximately $2,583,000. Bailard Inc. purchased a new position in Vera Bradley during the 2nd quarter worth approximately $625,000. Connor Clark & Lunn Investment Management Ltd. raised its position in Vera Bradley by 65.4% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 198,306 shares of the textile maker’s stock worth $2,784,000 after buying an additional 78,381 shares during the last quarter. Mackay Shields LLC raised its position in Vera Bradley by 650.9% during the 2nd quarter. Mackay Shields LLC now owns 82,600 shares of the textile maker’s stock worth $1,160,000 after buying an additional 71,600 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in Vera Bradley during the 2nd quarter worth approximately $290,000. 69.44% of the stock is 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 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.

Read More: Initial Public Offering (IPO)

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