Vera Bradley (NASDAQ:VRA) Upgraded at Zacks Research

Zacks Research upgraded shares of Vera Bradley (NASDAQ:VRA) from a strong sell rating to a hold rating in a research note published on Tuesday morning,Zacks.com reports.

Separately, Wall Street Zen downgraded shares of Vera Bradley from a “hold” rating to a “sell” rating in a research note on Sunday, October 26th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Vera Bradley currently has a consensus rating of “Reduce”.

Vera Bradley Price Performance

NASDAQ:VRA opened at $2.60 on Tuesday. The business’s 50-day moving average is $2.50 and its 200 day moving average is $2.32. Vera Bradley has a 12 month low of $1.39 and a 12 month high of $3.52. The company has a market capitalization of $72.67 million, a P/E ratio of -0.74 and a beta of 1.80. The company has a current ratio of 2.52, a quick ratio of 0.81 and a debt-to-equity ratio of 0.08.

Vera Bradley (NASDAQ:VRA) last released its quarterly earnings results on Thursday, December 11th. The textile maker reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.07. The business had revenue of $62.25 million during the quarter, compared to analysts’ expectations of $61.69 million. Vera Bradley had a negative return on equity of 18.30% and a negative net margin of 34.23%.During the same quarter last year, the business posted ($0.27) EPS. On average, equities research analysts forecast that Vera Bradley will post -0.25 earnings per share for the current fiscal year.

Insider Transactions at Vera Bradley

In other news, Director Andrew Meslow acquired 50,000 shares of the company’s stock in a transaction on Monday, December 15th. The stock was bought at an average cost of $1.93 per share, with a total value of $96,500.00. Following the completion of the purchase, the director directly owned 600,000 shares of the company’s stock, valued at $1,158,000. This represents a 9.09% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 12.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Vera Bradley

Large investors have recently made changes to their positions in the company. Catalyst Funds Management Pty Ltd bought a new stake in shares of Vera Bradley during the second quarter worth $25,000. Pinnacle Wealth Planning Services Inc. acquired a new position in shares of Vera Bradley during the second quarter worth $26,000. Jump Financial LLC purchased a new stake in Vera Bradley in the second quarter valued at about $28,000. Emissary Wealth LLC purchased a new position in shares of Vera Bradley in the 4th quarter valued at approximately $51,000. Finally, Qube Research & Technologies Ltd purchased a new position in shares of Vera Bradley in the third quarter worth $49,000. 59.88% of the stock is owned by hedge funds and other institutional investors.

About Vera Bradley

Vera Bradley, Inc (NASDAQ: VRA) is a lifestyle and accessories designer specializing in colorful, patterned handbags, luggage, travel accessories and coordinated home décor. Founded in 1982 by Barbara Bradley Baekgaard and Patricia R. Miller, the company first gained recognition for its quilted cotton bags sold at craft shows before expanding into an established fashion brand. Headquartered in Fort Wayne, Indiana, Vera Bradley has built a reputation for distinctive prints and functional design aimed primarily at women’s casual and travel needs.

The company’s product portfolio includes day bags, weekenders, backpacks, wallets, and organizational cases, as well as an expanding range of travel gear such as rolling luggage and travel pouches.