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

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

Vera Bradley Stock Performance

NASDAQ:VRA opened at $6.78 on Tuesday. Vera Bradley has a 1 year low of $4.60 and a 1 year high of $8.35. The stock has a market cap of $208.76 million, a P/E ratio of 27.12 and a beta of 1.89. The stock has a 50-day simple moving average of $6.83 and a 200-day simple moving average of $7.24.

Vera Bradley (NASDAQ:VRA) last announced its quarterly earnings results on Wednesday, March 13th. The textile maker reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.04). The business had revenue of $133.27 million during the quarter, compared to analyst estimates of $136.06 million. Vera Bradley had a net margin of 1.66% and a return on equity of 6.69%. On average, equities research analysts predict that Vera Bradley will post 0.63 EPS for the current year.

Hedge Funds Weigh In On Vera Bradley

Several institutional investors have recently bought and sold shares of the company. Fund 1 Investments LLC lifted its holdings in shares of Vera Bradley by 93.6% in the 4th quarter. Fund 1 Investments LLC now owns 1,762,471 shares of the textile maker’s stock valued at $13,571,000 after buying an additional 852,330 shares during the period. Acadian Asset Management LLC lifted its holdings in Vera Bradley by 4.8% in the third quarter. Acadian Asset Management LLC now owns 839,520 shares of the textile maker’s stock valued at $5,548,000 after acquiring an additional 38,450 shares during the period. Gate City Capital Management LLC acquired a new stake in Vera Bradley in the fourth quarter valued at $4,281,000. Hillsdale Investment Management Inc. boosted its position in shares of Vera Bradley by 13.2% during the 4th quarter. Hillsdale Investment Management Inc. now owns 482,264 shares of the textile maker’s stock worth $3,713,000 after purchasing an additional 56,400 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new position in shares of Vera Bradley during the 4th quarter worth $3,672,000. 59.88% of the stock is owned by institutional investors and hedge funds.

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 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.