Vera Bradley Downgraded by Zacks to “Underperform” (VRA)

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Zacks downgraded shares of Vera Bradley (NYSE:VRA) from a neutral rating to an underperform rating in a report issued on Monday. They currently have $22.00 target price on the stock.

Several other analysts have also recently commented on the stock. Analysts at Citigroup Inc. reiterated a neutral rating on shares of Vera Bradley in a research note on Friday. They now have a $25.00 price target on the stock, down previously from $29.00. Separately, analysts at Telsey Advisory Group cut their price target on shares of Vera Bradley from $35.00 to $32.00 in a research note on Friday. They now have a not rated rating on the stock. Finally, analysts at Jefferies Group cut their price target on shares of Vera Bradley from $33.00 to $30.00 in a research note on Friday. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $27.00.

In other Vera Bradley news, major shareholder Michael C. Ray sold 10,000 shares of the stock on the open market in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $24.64, for a total transaction of $246,400.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Vera Bradley (NYSE:VRA) opened at 23.31 on Monday. Vera Bradley has a one year low of $17.27 and a one year high of $30.00. The stock has a 50-day moving average of $27.59 and a 200-day moving average of $25.92. The company has a market cap of $947.3 million and a price-to-earnings ratio of 16.72.

Vera Bradley (NYSE:VRA) last released its earnings data on Thursday, June 5th. The company reported $0.16 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.13 by $0.03. The company had revenue of $113.50 million for the quarter, compared to the consensus estimate of $118.41 million. During the same quarter last year, the company posted $0.23 earnings per share. Vera Bradley’s revenue was down 7.7% compared to the same quarter last year. On average, analysts predict that Vera Bradley will post $1.07 earnings per share for the current fiscal year.

Vera Bradley, Inc (NYSE:VRA) is a designer, producer, marketer, and retailer of functional accessories for women.

To view Zacks’ full report, visit Zacks’ official website.

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