Vera Bradley (NASDAQ:VRA) Stock Rating Lowered by StockNews.com

Vera Bradley (NASDAQ:VRA - Get Free Report) was downgraded by StockNews.com from a "strong-buy" rating to a "buy" rating in a research report issued on Tuesday.

Vera Bradley Stock Down 2.8 %

Vera Bradley stock traded down $0.19 during mid-day trading on Tuesday, hitting $6.59. 189,795 shares of the company's stock traded hands, compared to its average volume of 302,775. Vera Bradley has a one year low of $4.60 and a one year high of $8.35. The firm has a 50 day moving average price of $6.83 and a 200 day moving average price of $7.24. The company has a market cap of $202.91 million, a PE ratio of 26.36 and a beta of 1.89.

Vera Bradley (NASDAQ:VRA - Get Free Report) last issued its quarterly 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). Vera Bradley had a net margin of 1.66% and a return on equity of 6.69%. The firm had revenue of $133.27 million for the quarter, compared to analyst estimates of $136.06 million. On average, analysts expect that Vera Bradley will post 0.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vera Bradley

A number of institutional investors and hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC bought a new stake in Vera Bradley during the 3rd quarter worth approximately $44,000. Harbor Capital Advisors Inc. raised its holdings in shares of 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 purchasing an additional 3,044 shares during the period. LSV Asset Management purchased a new stake in shares of Vera Bradley in the fourth quarter worth approximately $56,000. Tower Research Capital LLC TRC boosted its position in 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 worth $69,000 after purchasing an additional 6,503 shares during the last quarter. Finally, Panagora Asset Management Inc. bought a new stake in Vera Bradley in the 3rd quarter valued at about $83,000. 59.88% of the stock is owned by 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 consisting of rolling luggage, cosmetics, and travel and packing accessories, as well as travel bags comprising duffel and weekend bags.