Jefferies Downgrades Vera Bradley (VRA) to Hold

June 1, 2012 7:55 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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Following Q2 results after the close, Jefferies downgraded Vera Bradley (NASDAQ: VRA) to Hold with a price target of $25 (down from $45).

The firm comments, "This downgrade is simple: sales are slowing and margins are not expanding which is not a good sign for a growth story. While we are admittedly late to call this one and have been wrong thus far, we are still choosing to take the hit now as we see few catalysts to get the stock moving in the near term."

Jefferies cut Q2 EPS estimates from $0.38 to $0.34 and FY12 from $1.70 to $1.68.

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 $21.87 yesterday.

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