NEW YORK (TheStreet) -- The following stocks sank to 52-week lows on Tuesday: Vera Bradley (VRA), Alpha Natural Resources (ANR), Cypress Semiconductor (CY), Electronic Arts (EA), Riverbed Technology (RVBD), Atmel (ATML), STMicroelectronics (STM) and Newmont Mining (NEM).
"Acknowledging the immense stock price pressure on VRA shares, we continue to believe in the company able to achieve at least their guidance range of $1.68 to $1.71 this year in EPS--resulting in a valuation near 15x versus what we believe could be at least high-teens EPS growth," Piper Jaffray analysts wrote in an April 17 report. "We fully recognize that these shares may not see reprieve until clarity on the fundamentals can be achieved; that said, we believe investors willing to take on a bit more of a risk profile could likely be rewarded for buying shares at these levels. We are reiterating our Overweight rating and $50 price target on VRA shares."
Shares of Vera Bradley hit a 52-week low Tuesday of $23.54. The stock's 52-week high of $52.36 was set on May 19.Vera Bradley trades at an estimated price-to-earnings ratio for next year of 12.11 times; the average for clothing and accessories companies is 14.72. For comparison, Perry Ellis International (PERY) has a lower forward P/E of 7.56. Nine of the 12 analysts who cover Vera Bradley rated it buy; three analysts gave the stock a hold rating. The stock has fallen 24.47% year to date.
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