Vera Bradley (VRA) Stock Price Target Lowered at Jefferies

NEW YORK (TheStreet) -- Vera Bradley (VRA) stock price target was lowered today by analysts at Jefferies to $18 from $23 with a "buy" rating.

In Thursday's pre-market trading session, shares of Vera Bradley are declining 1.32% to $12.

This action comes after the women's handbag maker reported a quarterly loss yesterday. The company reported revenue of $101.1 million, or 10 cents per share, compared to revenue of $112.2 million, or 17 cents per share in the same quarter last year.

The company was expected to report revenue of $105.48 million, or 2 cents per share for the quarter, according to analysts polled by Thomson Reuters.

"We are not attracting enough new customers to the brand, and traffic and sales are still very challenging," CEO Robert Wallstrom said.

While analysts at Jefferies believe management is taking the right steps to give the brand a makeover, "the reality is that brand transformations, even when successful, typically take time," they noted.

Separately, TheStreet Ratings team rates VERA BRADLEY INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate VERA BRADLEY INC (VRA) a HOLD. The primary factors that have impacted our rating are mixed, some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and weak operating cash flow."

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