Vera Bradley (NASDAQ:VRA) released its earnings results on Wednesday. The textile maker reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.10, MarketWatch Earnings reports. The firm had revenue of $113.60 million during the quarter, compared to the consensus estimate of $113.14 million. Vera Bradley had a return on equity of 8.27% and a net margin of 2.18%. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.13 earnings per share. Vera Bradley updated its Q3 guidance to $0.14-0.16 EPS and its FY19 guidance to $0.55-0.62 EPS.
NASDAQ:VRA traded up $2.11 during trading hours on Wednesday, hitting $16.40. 68,008 shares of the stock traded hands, compared to its average volume of 216,567. Vera Bradley has a fifty-two week low of $6.99 and a fifty-two week high of $15.47. The company has a market cap of $522.44 million, a P/E ratio of 26.78 and a beta of 0.37.
A number of brokerages have recently commented on VRA. BidaskClub downgraded Vera Bradley from a “buy” rating to a “hold” rating in a research report on Thursday, August 30th. ValuEngine upgraded Vera Bradley from a “hold” rating to a “buy” rating in a research report on Thursday, May 17th. Zacks Investment Research downgraded Vera Bradley from a “buy” rating to a “hold” rating in a research report on Tuesday, May 22nd. Finally, Telsey Advisory Group increased their price objective on Vera Bradley from $11.00 to $15.00 and gave the company a “market perform” rating in a research report on Thursday, June 7th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Vera Bradley has an average rating of “Hold” and a consensus target price of $12.60.
In other Vera Bradley news, Director Robert J. Hall sold 400,000 shares of the business’s stock in a transaction on Monday, June 25th. The shares were sold at an average price of $14.43, for a total transaction of $5,772,000.00. Following the sale, the director now directly owns 71,604 shares of the company’s stock, valued at approximately $1,033,245.72. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Michael C. Ray sold 2,429 shares of the business’s stock in a transaction on Monday, June 11th. The shares were sold at an average price of $14.09, for a total transaction of $34,224.61. Following the sale, the insider now directly owns 109,317 shares in the company, valued at $1,540,276.53. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,189,700 shares of company stock worth $17,109,961. Company insiders own 30.10% of the company’s stock.
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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