Warby Parker Inc. (NYSE:WRBY) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Warby Parker Inc. (NYSE:WRBY) have received a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $16.50.

WRBY has been the topic of several recent analyst reports. UBS Group boosted their price target on Warby Parker from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Friday, May 10th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $19.00 price target on shares of Warby Parker in a research report on Thursday, May 9th. Finally, Morgan Stanley boosted their target price on Warby Parker from $13.00 to $14.00 and gave the stock an “equal weight” rating in a report on Friday, May 10th.

Warby Parker Stock Performance

Shares of NYSE:WRBY opened at $16.03 on Wednesday. Warby Parker has a twelve month low of $9.83 and a twelve month high of $17.95. The firm has a market cap of $1.59 billion, a PE ratio of -34.11 and a beta of 1.82. The business has a fifty day moving average of $15.49 and a 200-day moving average of $14.05.

Warby Parker (NYSE:WRBY) last announced its earnings results on Thursday, May 9th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. The company had revenue of $200.00 million during the quarter, compared to analyst estimates of $196.25 million. Warby Parker had a negative return on equity of 13.19% and a negative net margin of 7.89%. On average, analysts anticipate that Warby Parker will post -0.09 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Steven Clive Miller sold 15,709 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $17.04, for a total value of $267,681.36. Following the sale, the chief financial officer now directly owns 166,879 shares of the company’s stock, valued at $2,843,618.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Steven Clive Miller sold 15,709 shares of Warby Parker stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $17.04, for a total transaction of $267,681.36. Following the sale, the chief financial officer now directly owns 166,879 shares of the company’s stock, valued at $2,843,618.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder D1 Capital Partners L.P. sold 5,500,000 shares of Warby Parker stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $15.66, for a total value of $86,130,000.00. Following the sale, the insider now directly owns 9,444,023 shares in the company, valued at $147,893,400.18. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,848,537 shares of company stock worth $91,938,722. Company insiders own 26.55% of the company’s stock.

Institutional Trading of Warby Parker

A number of hedge funds have recently made changes to their positions in WRBY. Strs Ohio bought a new position in shares of Warby Parker during the fourth quarter worth about $40,000. Cary Street Partners Investment Advisory LLC raised its position in shares of Warby Parker by 137,633.3% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 4,132 shares of the company’s stock worth $54,000 after acquiring an additional 4,129 shares during the last quarter. Advisors Asset Management Inc. raised 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 acquiring an additional 2,276 shares during the last quarter. Levin Capital Strategies L.P. bought a new position in shares of Warby Parker during the fourth quarter worth about $141,000. Finally, Sciencast Management LP bought a new position in shares of Warby Parker during the first quarter worth about $145,000. 93.24% of the stock is owned by institutional investors and hedge funds.

Warby Parker Company Profile

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.