Vera Bradley (VRA) Sees Strong Trading Volume on Earnings Beat

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Vera Bradley, Inc. (NASDAQ:VRA) shares saw strong trading volume on Thursday following a better than expected earnings announcement. 83,810 shares were traded during trading, a decline of 60% from the previous session’s volume of 207,146 shares.The stock last traded at $16.69 and had previously closed at $16.40.

The textile maker reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.10. The company had revenue of $113.60 million for the quarter, compared to analyst estimates of $113.14 million. Vera Bradley had a return on equity of 8.27% and a net margin of 2.18%. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.13 earnings per share.

A number of equities analysts have recently weighed in on the company. BidaskClub upgraded Vera Bradley from a “hold” rating to a “buy” rating in a research note on Saturday, May 19th. Zacks Investment Research lowered Vera Bradley from a “buy” rating to a “hold” rating in a research note on Tuesday, May 22nd. Telsey Advisory Group increased their target price on Vera Bradley from $15.00 to $17.00 and gave the stock a “market perform” rating in a research note on Thursday. Finally, ValuEngine upgraded Vera Bradley from a “hold” rating to a “buy” rating in a research note on Thursday, May 17th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Vera Bradley presently has a consensus rating of “Hold” and a consensus target price of $13.00.

In related news, insider Anne Marie Ray sold 28,378 shares of the stock in a transaction that occurred on Thursday, June 28th. The stock was sold at an average price of $14.60, for a total transaction of $414,318.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Michael C. Ray sold 33,236 shares of the stock in a transaction that occurred on Thursday, August 23rd. The stock was sold at an average price of $14.93, for a total value of $496,213.48. The disclosure for this sale can be found here. Insiders have sold 1,189,700 shares of company stock worth $17,109,961 in the last three months. 30.10% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of the stock. Legal & General Group Plc boosted its holdings in shares of Vera Bradley by 10.3% in the 2nd quarter. Legal & General Group Plc now owns 37,965 shares of the textile maker’s stock valued at $541,000 after purchasing an additional 3,554 shares in the last quarter. Metropolitan Life Insurance Co. NY acquired a new stake in shares of Vera Bradley in the 2nd quarter valued at $112,000. SG Americas Securities LLC acquired a new stake in shares of Vera Bradley in the 2nd quarter valued at $142,000. MetLife Investment Advisors LLC acquired a new stake in shares of Vera Bradley in the 4th quarter valued at $125,000. Finally, Mackay Shields LLC acquired a new stake in shares of Vera Bradley in the 1st quarter valued at $117,000. 68.90% of the stock is currently owned by institutional investors and hedge funds.

The firm has a market cap of $522.44 million, a price-to-earnings ratio of 27.97 and a beta of 0.37.

Vera Bradley Company Profile (NASDAQ:VRA)

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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