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

StockNews.com downgraded shares of Vera Bradley (NASDAQ:VRA) from a strong-buy rating to a buy rating in a research note issued to investors on Wednesday morning.

Vera Bradley Price Performance

NASDAQ VRA opened at $7.25 on Wednesday. The stock has a market capitalization of $223.01 million, a PE ratio of 29.00 and a beta of 1.89. Vera Bradley has a 1-year low of $4.60 and a 1-year high of $8.35. The business has a 50 day simple moving average of $6.74 and a two-hundred day simple moving average of $7.24.

Vera Bradley (NASDAQ:VRA) last posted its quarterly earnings data on Wednesday, March 13th. The textile maker reported $0.11 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.04). Vera Bradley had a return on equity of 6.69% and a net margin of 1.66%. The firm had revenue of $133.27 million for the quarter, compared to analysts’ expectations of $136.06 million. On average, analysts anticipate that Vera Bradley will post 0.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Vera Bradley

Institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC bought a new stake in shares of Vera Bradley in the third quarter valued at about $44,000. Harbor Capital Advisors Inc. increased its holdings in Vera Bradley by 73.7% during the fourth quarter. Harbor Capital Advisors Inc. now owns 7,174 shares of the textile maker’s stock valued at $55,000 after buying an additional 3,044 shares during the period. LSV Asset Management bought a new position in Vera Bradley in the fourth quarter worth approximately $56,000. Tower Research Capital LLC TRC lifted its holdings in Vera Bradley by 258.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,017 shares of the textile maker’s stock worth $69,000 after buying an additional 6,503 shares during the period. Finally, Clear Street Markets LLC purchased a new stake in Vera Bradley during the fourth quarter worth $94,000. 59.88% of the stock is owned by hedge funds and other institutional investors.

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 consist of rolling luggage, cosmetics, and travel and packing accessories, as well as travel bags comprising duffel and weekend bags.