Vera Bradley (NASDAQ:VRA) Upgraded to "Buy" at Wall Street Zen

Key Points

• Vera Bradley was upgraded by Wall Street Zen from hold to buy, while Zacks Research recently moved its view from strong sell to hold. Overall, MarketBeat still shows a consensus rating of Reduce.
• The company’s latest quarterly results beat expectations, with EPS of $0.09 versus the $0.01 estimate and revenue of $84.89 million versus the $79.73 million forecast.
• Vera Bradley shares closed around $4.14, near their 12-month high of $4.39, after rising above both the 50-day and 200-day moving averages. Institutional ownership remains significant at about 59.88%.

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

Separately, Zacks Research upgraded Vera Bradley from a "strong sell" rating to a "hold" rating in a research note on Tuesday, February 10th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Reduce".

Vera Bradley Price Performance

Shares of Vera Bradley stock opened at $4.14 on Friday. The company's 50 day moving average is $3.46 and its 200 day moving average is $2.85. Vera Bradley has a twelve month low of $1.39 and a twelve month high of $4.39. The company has a market cap of $117.74 million, a price-to-earnings ratio of -2.41 and a beta of 1.70.

Vera Bradley (NASDAQ:VRA - Get Free Report) last issued its quarterly earnings data on Thursday, March 12th. The textile maker reported $0.09 EPS for the quarter, topping analysts' consensus estimates of $0.01 by $0.08. The company had revenue of $84.89 million during the quarter, compared to the consensus estimate of $79.73 million. Vera Bradley had a negative net margin of 17.74% and a negative return on equity of 12.00%. Sell-side analysts expect that Vera Bradley will post -0.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Vera Bradley

Institutional investors and hedge funds have recently modified their holdings of the company. Empowered Funds LLC increased its holdings in Vera Bradley by 7.9% in the 1st quarter. Empowered Funds LLC now owns 163,636 shares of the textile maker's stock worth $368,000 after buying an additional 12,021 shares during the period. Jane Street Group LLC boosted its holdings in shares of Vera Bradley by 149.9% in the 1st quarter. Jane Street Group LLC now owns 57,041 shares of the textile maker's stock valued at $128,000 after acquiring an additional 34,212 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Vera Bradley in the 2nd quarter valued at $126,000. Marshall Wace LLP acquired a new stake in shares of Vera Bradley in the second quarter worth $363,000. Finally, Jump Financial LLC acquired a new stake in shares of Vera Bradley in the second quarter worth $28,000. Institutional investors and hedge funds own 59.88% of the company's stock.

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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