Warby Parker (NYSE:WRBY) Stock Rating Upgraded by William Blair

Warby Parker (NYSE:WRBY) was upgraded by equities researchers at William Blair from a “market perform” rating to an “outperform” rating in a note issued to investors on Thursday, Marketbeat reports.

A number of other analysts have also recently weighed in on WRBY. Loop Capital boosted their price objective on shares of Warby Parker from $15.00 to $16.00 and gave the stock a “hold” rating in a research note on Wednesday, July 10th. BTIG Research boosted their price target on shares of Warby Parker from $18.00 to $20.00 and gave the company a “buy” rating in a report on Friday, November 1st. Piper Sandler started coverage on shares of Warby Parker in a report on Friday, August 23rd. They issued an “overweight” rating and a $18.00 target price on the stock. Deutsche Bank Aktiengesellschaft raised shares of Warby Parker from a “neutral” rating to a “buy” rating and upped their target price for the stock from $15.00 to $18.00 in a report on Monday, October 21st. Finally, Stifel Nicolaus upped their target price on shares of Warby Parker from $14.00 to $15.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.18.

Warby Parker Price Performance

Warby Parker stock opened at $19.51 on Thursday. The firm’s 50 day simple moving average is $15.92 and its 200-day simple moving average is $15.55. The company has a market cap of $1.96 billion, a P/E ratio of -50.01 and a beta of 1.80. Warby Parker has a fifty-two week low of $9.83 and a fifty-two week high of $19.93.

Warby Parker (NYSE:WRBY) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. The firm had revenue of $188.22 million for the quarter, compared to the consensus estimate of $186.89 million. Warby Parker had a negative net margin of 6.38% and a negative return on equity of 11.09%. On average, analysts expect that Warby Parker will post -0.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other Warby Parker news, CFO Steven Clive Miller sold 6,763 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $13.90, for a total transaction of $94,005.70. Following the sale, the chief financial officer now owns 177,488 shares of the company’s stock, valued at $2,467,083.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Warby Parker news, CFO Steven Clive Miller sold 6,763 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $13.90, for a total transaction of $94,005.70. Following the transaction, the chief financial officer now directly owns 177,488 shares in the company, valued at approximately $2,467,083.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Neil Harris Blumenthal sold 50,000 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $13.89, for a total transaction of $694,500.00. Following the transaction, the chief executive officer now owns 12,177 shares in the company, valued at approximately $169,138.53. The trade was a 0.00 % decrease in their ownership of the stock. 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 90 days. 26.55% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. lifted its position in Warby Parker by 79.9% during the 1st quarter. Advisors Asset Management Inc. now owns 5,125 shares of the company’s stock valued at $70,000 after purchasing an additional 2,276 shares during the period. First Eagle Investment Management LLC bought a new position in Warby Parker during the 2nd quarter worth approximately $131,000. Choreo LLC bought a new position in Warby Parker during the 2nd quarter worth approximately $167,000. Sciencast Management LP bought a new position in Warby Parker during the 1st quarter worth approximately $145,000. Finally, AQR Capital Management LLC bought a new position in Warby Parker during the 2nd quarter worth approximately $186,000. 93.24% of the stock is currently owned by institutional investors and hedge funds.

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.