Vera Bradley (VRA) Sees Large Volume Increase After Strong Earnings

Vera Bradley, Inc. (NASDAQ:VRA) saw an uptick in trading volume on Wednesday after the company announced better than expected quarterly earnings. 4,850,689 shares traded hands during trading, an increase of 1,212% from the previous session’s volume of 369,610 shares.The stock last traded at $11.03 and had previously closed at $8.64.

The textile maker reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.09. The company had revenue of $114.10 million for the quarter, compared to analysts’ expectations of $114.55 million. Vera Bradley had a net margin of 2.21% and a return on equity of 6.64%. Vera Bradley’s revenue was down 9.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.20 EPS.

A number of brokerages recently issued reports on VRA. BidaskClub upgraded shares of Vera Bradley from a “strong sell” rating to a “sell” rating in a research note on Saturday, November 11th. B. Riley reiterated a “buy” rating on shares of Vera Bradley in a research note on Wednesday, November 1st. Zacks Investment Research raised Vera Bradley from a “hold” rating to a “buy” rating and set a $8.00 target price for the company in a research report on Wednesday, November 1st. Jefferies Group reissued a “hold” rating and issued a $11.00 target price on shares of Vera Bradley in a research report on Thursday, October 12th. Finally, FBR & Co set a $12.00 target price on Vera Bradley and gave the stock a “buy” rating in a research report on Monday, August 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. Vera Bradley presently has a consensus rating of “Hold” and an average target price of $10.33.

In other Vera Bradley news, EVP Kimberly F. Colby sold 170,000 shares of the business’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $8.47, for a total value of $1,439,900.00. Following the completion of the transaction, the executive vice president now owns 21,655 shares of the company’s stock, valued at approximately $183,417.85. The sale was disclosed in a legal filing with the SEC, which is available through this link. 39.60% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Teton Advisors Inc. purchased a new stake in shares of Vera Bradley during the 2nd quarter valued at about $102,000. LMR Partners LLP purchased a new stake in shares of Vera Bradley during the 2nd quarter valued at about $115,000. Voya Investment Management LLC increased its position in shares of Vera Bradley by 29.4% during the 2nd quarter. Voya Investment Management LLC now owns 13,261 shares of the textile maker’s stock valued at $130,000 after purchasing an additional 3,014 shares during the last quarter. Texas Permanent School Fund increased its position in shares of Vera Bradley by 1.2% during the 2nd quarter. Texas Permanent School Fund now owns 13,789 shares of the textile maker’s stock valued at $135,000 after purchasing an additional 157 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Vera Bradley by 11.6% during the 2nd quarter. Wells Fargo & Company MN now owns 14,964 shares of the textile maker’s stock valued at $147,000 after purchasing an additional 1,556 shares during the last quarter. 61.87% of the stock is owned by hedge funds and other institutional investors.

The stock has a market cap of $310.74, a PE ratio of 16.56, a P/E/G ratio of 1.84 and a beta of 1.10.

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About Vera Bradley

Vera Bradley, Inc (Vera Bradley) is a designer of women’s handbags, accessories, luggage and travel items, eyewear, and stationery and gifts. The Company’s segments include Direct and Indirect. The Company offers various products, including bags, travel, home and accessories. Its accessories include fashion accessories, such as wallets, eyeglass cases, jewelry, and scarves and various technology accessories.

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