Warby Parker Inc. (NYSE:WRBY) Given Average Rating of “Moderate Buy” by Brokerages

Warby Parker Inc. (NYSE:WRBY) has received an average recommendation of “Moderate Buy” from the nine ratings firms that are covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $17.00.

WRBY has been the subject of several recent analyst reports. Loop Capital raised their price objective on shares of Warby Parker from $15.00 to $16.00 and gave the stock a “hold” rating in a report on Wednesday, July 10th. Telsey Advisory Group reissued an “outperform” rating and set a $19.00 price target on shares of Warby Parker in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft raised shares of Warby Parker from a “neutral” rating to a “buy” rating and increased their price target for the company from $15.00 to $18.00 in a research note on Monday, October 21st. The Goldman Sachs Group raised shares of Warby Parker from a “neutral” rating to a “buy” rating and increased their price target for the company from $15.00 to $18.00 in a research note on Monday, October 21st. Finally, Piper Sandler began coverage on shares of Warby Parker in a research note on Friday, August 23rd. They set an “overweight” rating and a $18.00 price target on the stock.

Warby Parker Trading Up 0.5 %

NYSE WRBY opened at $17.21 on Tuesday. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of -44.13 and a beta of 1.82. The company has a 50 day moving average of $15.33 and a 200-day moving average of $15.24. Warby Parker has a 1-year low of $9.83 and a 1-year high of $18.37.

Warby Parker (NYSE:WRBY) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.01. The company had revenue of $188.22 million during the quarter, compared to analyst estimates 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 forecast that Warby Parker will post -0.04 earnings per share for the current year.

Insider Buying and Selling at Warby Parker

In other Warby Parker news, CEO Neil Harris Blumenthal sold 27,143 shares of the firm’s 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 transaction, the chief executive officer now directly owns 12,177 shares of the company’s stock, valued at approximately $158,301. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Warby Parker news, CEO Neil Harris Blumenthal sold 27,143 shares of the firm’s 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 transaction, the chief executive officer now directly owns 12,177 shares of the company’s stock, valued at approximately $158,301. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Steven Clive Miller sold 6,763 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $13.90, for a total transaction of $94,005.70. Following the completion of the transaction, the chief financial officer now directly owns 177,488 shares in the company, valued at approximately $2,467,083.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 99,178 shares of company stock valued at $1,339,901. 26.55% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Warby Parker

Hedge funds and other institutional investors have recently made changes to their positions in the company. Advisors Asset Management Inc. boosted its position in shares of Warby Parker by 79.9% during the first quarter. Advisors Asset Management Inc. now owns 5,125 shares of the company’s stock worth $70,000 after purchasing an additional 2,276 shares in the last quarter. First Eagle Investment Management LLC bought a new position in shares of Warby Parker during the second quarter worth $131,000. Sciencast Management LP bought a new position in shares of Warby Parker during the first quarter worth $145,000. Principal Financial Group Inc. bought a new position in shares of Warby Parker during the first quarter worth $158,000. Finally, Choreo LLC bought a new position in shares of Warby Parker during the second quarter worth $167,000. 93.24% of the stock is owned by institutional investors.

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.