Vera Bradley (NASDAQ:VRA) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Vera Bradley from a “hold” to a “buy,” even though other analysts remain cautious and the stock’s overall consensus rating is still “Reduce.”
• Vera Bradley beat quarterly expectations, reporting a loss of $0.09 per share versus the expected loss of $0.33, while revenue of $55.7 million also came in above estimates.
• Insider buying and institutional activity were notable, with Director Andrew Meslow buying nearly 25,000 shares, while hedge funds and other investors increased their holdings and now own about 59.9% of the stock.

Vera Bradley (NASDAQ:VRA - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Sunday.

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of Vera Bradley in a research report on Monday, June 15th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Reduce".

Vera Bradley Stock Performance

Vera Bradley stock traded up $0.20 during trading on Friday, hitting $4.03. The company's stock had a trading volume of 156,882 shares, compared to its average volume of 310,103. The stock's fifty day moving average is $3.64 and its 200 day moving average is $3.23. Vera Bradley has a 1-year low of $1.39 and a 1-year high of $4.39. The stock has a market capitalization of $114.61 million, a price-to-earnings ratio of -5.84 and a beta of 1.57.

Vera Bradley (NASDAQ:VRA - Get Free Report) last issued its quarterly earnings results on Thursday, June 11th. The textile maker reported ($0.09) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.33) by $0.24. The firm had revenue of $55.70 million for the quarter, compared to analyst estimates of $49.12 million. Vera Bradley had a negative return on equity of 6.66% and a negative net margin of 7.02%. On average, research analysts anticipate that Vera Bradley will post -0.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Andrew Meslow purchased 24,926 shares of the stock in a transaction on Friday, June 12th. The stock was purchased at an average price of $3.73 per share, with a total value of $92,973.98. Following the completion of the transaction, the director owned 650,000 shares in the company, valued at approximately $2,424,500. The trade was a 3.99% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 14.30% of the company's stock.

Hedge Funds Weigh In On Vera Bradley

Several hedge funds and other institutional investors have recently modified their holdings of the company. Jump Financial LLC acquired a new stake in Vera Bradley during the 2nd quarter worth approximately $28,000. Qube Research & Technologies Ltd acquired a new position in Vera Bradley during the third quarter valued at approximately $49,000. Emissary Wealth LLC purchased a new stake in Vera Bradley during the fourth quarter worth approximately $51,000. Simplex Trading LLC grew its stake in Vera Bradley by 55.0% during the fourth quarter. Simplex Trading LLC now owns 35,083 shares of the textile maker's stock worth $85,000 after buying an additional 12,442 shares during the period. Finally, Corient Private Wealth LLC increased its position in shares of Vera Bradley by 266.8% in the second quarter. Corient Private Wealth LLC now owns 41,000 shares of the textile maker's stock worth $91,000 after acquiring an additional 29,823 shares in the last quarter. 59.88% of the stock is owned by institutional investors and hedge funds.

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.

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