KeyBanc Downgrades Vera Bradley (VRA) to Sector Weight

October 6, 2016 7:43 AM EDT
Get Alerts VRA Hot Sheet
Price: $11.83 +1.37%

Rating Summary:
    4 Buy, 10 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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KeyBanc downgraded Vera Bradley (NASDAQ: VRA) from Overweight to Sector Weight and removed its price target. Analyst Edward Yruma sees risk to earnings.

"While we think that Vera Bradley’s efforts to reboot the brand are helping improve results, we see downside risk to earnings and downgrade the stock to Sector Weight. On balance, we think that the management-driven reboot has been successful (and is reflected in the stock, +20% YOY), but given gross margin that is now in excess of previous peak levels, sales leverage is necessary. We are lowering our 2016 EPS estimate to $0.85," said the analyst.

For an analyst ratings summary and ratings history on Vera Bradley click here. For more ratings news on Vera Bradley click here.

Shares of Vera Bradley closed at $15.26 yesterday.

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