NEW YORK ( TheStreet) -- The following stocks sank to 52-week lows on Tuesday: Vera Bradley (VRA - Get Report), Alpha Natural Resources (ANR - Get Report), Cypress Semiconductor (CY - Get Report), Electronic Arts (EA - Get Report), Riverbed Technology (RVBD), Atmel (ATML), STMicroelectronics (STM) and Newmont Mining (NEM - Get Report).
"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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