Warby Parker (NYSE:WRBY) Upgraded to “Buy” at Deutsche Bank Aktiengesellschaft

Warby Parker (NYSE:WRBY) was upgraded by stock analysts at Deutsche Bank Aktiengesellschaft from a “neutral” rating to a “buy” rating in a report released on Monday, Benzinga reports. The brokerage currently has a $18.00 price target on the stock, up from their previous price target of $15.00. Deutsche Bank Aktiengesellschaft’s price objective points to a potential upside of 1.12% from the stock’s previous close.

Other research analysts have also issued research reports about the company. Piper Sandler assumed coverage on Warby Parker in a research report on Friday, August 23rd. They set an “overweight” rating and a $18.00 price objective for the company. Telsey Advisory Group reiterated an “outperform” rating and set a $19.00 price target on shares of Warby Parker in a research report on Thursday, August 8th. Stifel Nicolaus boosted their price target on Warby Parker from $14.00 to $15.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Loop Capital upped their price objective on Warby Parker from $15.00 to $16.00 and gave the company a “hold” rating in a report on Wednesday, July 10th. Finally, JMP Securities upgraded Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 price objective for the company in a report on Friday, August 23rd. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.00.

Warby Parker Trading Down 2.2 %

Shares of NYSE WRBY opened at $17.80 on Monday. Warby Parker has a twelve month low of $9.83 and a twelve month high of $18.37. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of -37.87 and a beta of 1.82. The business has a 50 day simple moving average of $15.07 and a 200-day simple moving average of $15.14.

Warby Parker (NYSE:WRBY) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. Warby Parker had a negative return on equity of 11.09% and a negative net margin of 6.38%. The business had revenue of $188.22 million during the quarter, compared to the consensus estimate of $186.89 million. As a group, equities analysts predict that Warby Parker will post -0.04 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Steven Clive Miller sold 15,272 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $13.00, for a total transaction of $198,536.00. Following the completion of the sale, the chief financial officer now owns 184,251 shares in the company, valued at approximately $2,395,263. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Steven Clive Miller sold 15,272 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $13.00, for a total transaction of $198,536.00. Following the completion of the sale, the chief financial officer now owns 184,251 shares in the company, valued at $2,395,263. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Neil Harris Blumenthal sold 27,143 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $13.00, for a total value of $352,859.00. Following the sale, the chief executive officer now owns 12,177 shares of the company’s stock, valued at approximately $158,301. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 99,178 shares of company stock valued at $1,339,901 in the last three months. Insiders own 26.55% of the company’s stock.

Institutional Trading of Warby Parker

Several hedge funds have recently added to or reduced their stakes in WRBY. Advisors Asset Management Inc. raised its holdings in Warby Parker by 79.9% in the 1st quarter. Advisors Asset Management Inc. now owns 5,125 shares of the company’s stock valued at $70,000 after acquiring an additional 2,276 shares in the last quarter. First Eagle Investment Management LLC acquired a new stake in Warby Parker during the 2nd quarter valued at $131,000. Sciencast Management LP acquired a new stake in Warby Parker during the 1st quarter valued at $145,000. Principal Financial Group Inc. acquired a new stake in Warby Parker during the 1st quarter valued at $158,000. Finally, Choreo LLC acquired a new stake in Warby Parker during the 2nd quarter valued at $167,000. Institutional investors own 93.24% of the company’s stock.

About Warby Parker

Warby Parker Inc provides eyewear products in the United States and Canada. The company offers eyeglasses, sunglasses, light-responsive lenses, blue-light-filtering lenses, non-prescription lenses, and contact lenses. It also provides accessories, such as cases, lenses kit with anti-fog spray, pouches, and anti-fog lens spray through its retail stores, website, and mobile apps.