Vera Bradley (NASDAQ:VRA) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Tuesday, BidAskClub reports.

Other equities research analysts also recently issued research reports about the stock. ValuEngine downgraded shares of Vera Bradley from a “buy” rating to a “hold” rating in a report on Saturday, May 18th. Zacks Investment Research reissued a “buy” rating and issued a $12.00 price target on shares of Vera Bradley in a report on Saturday, June 15th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $11.50.

Shares of VRA opened at $10.83 on Tuesday. Vera Bradley has a 1 year low of $7.94 and a 1 year high of $17.38. The firm has a market capitalization of $394.14 million, a P/E ratio of 18.36 and a beta of 0.83. The company has a current ratio of 4.15, a quick ratio of 2.53 and a debt-to-equity ratio of 0.41. The company’s fifty day moving average price is $11.33.

Vera Bradley (NASDAQ:VRA) last announced its quarterly earnings results on Wednesday, June 5th. The textile maker reported ($0.07) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.07). Vera Bradley had a net margin of 4.69% and a return on equity of 6.76%. The company had revenue of $91.00 million during the quarter, compared to the consensus estimate of $87.95 million. During the same quarter in the previous year, the company posted ($0.04) earnings per share. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, equities analysts expect that Vera Bradley will post 0.7 EPS for the current fiscal year.

In related news, major shareholder Michael C. Ray sold 31,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $10.95, for a total value of $344,925.00. Following the completion of the sale, the insider now owns 114,627 shares of the company’s stock, valued at approximately $1,255,165.65. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Anne Marie Ray sold 70,000 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $11.57, for a total value of $809,900.00. The disclosure for this sale can be found here. Insiders sold a total of 203,000 shares of company stock worth $2,289,875 in the last quarter. 27.30% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in VRA. Quantamental Technologies LLC bought a new stake in Vera Bradley during the first quarter worth approximately $32,000. Aperio Group LLC bought a new stake in Vera Bradley during the second quarter worth approximately $37,000. Sterling Investment Advisors Ltd. bought a new stake in Vera Bradley during the second quarter worth approximately $48,000. BNP Paribas Arbitrage SA boosted its position in Vera Bradley by 67.2% during the first quarter. BNP Paribas Arbitrage SA now owns 4,744 shares of the textile maker’s stock worth $63,000 after purchasing an additional 1,907 shares during the period. Finally, Metropolitan Life Insurance Co NY bought a new stake in shares of Vera Bradley in the first quarter valued at approximately $100,000. 66.45% of the stock is owned by institutional investors and hedge funds.

About Vera Bradley

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 two segments, Direct and Indirect. The company offers totes, crossbodies, satchels, clutches, backpacks, baby bags, and lunch bags; accessories, including wallets, wristlets, eyeglass cases, scarves, and various technology accessories; and travel products, such as rolling luggage, cosmetics, and travel and packing accessories, as well as travel bags comprising duffel and weekend bags.

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