Warby Parker’s (WRBY) Outperform Rating Reiterated at Telsey Advisory Group

Telsey Advisory Group reissued their outperform rating on shares of Warby Parker (NYSE:WRBY) in a research report released on Thursday, Benzinga reports. Telsey Advisory Group currently has a $19.00 price target on the stock.

Several other research analysts have also weighed in on the stock. 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. Deutsche Bank Aktiengesellschaft upgraded Warby Parker from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $15.00 to $18.00 in a research note on Monday, October 21st. Piper Sandler started coverage on Warby Parker in a report on Friday, August 23rd. They set an “overweight” rating and a $18.00 price target for the company. The Goldman Sachs Group raised shares of Warby Parker from a “neutral” rating to a “buy” rating and increased their price objective for the company from $15.00 to $18.00 in a research report on Monday, October 21st. Finally, Stifel Nicolaus raised their price objective on shares of Warby Parker from $14.00 to $15.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Warby Parker currently has an average rating of “Moderate Buy” and an average price target of $17.30.

Warby Parker Trading Up 3.1 %

Shares of WRBY stock opened at $17.45 on Thursday. The firm’s fifty day moving average price is $15.57 and its two-hundred day moving average price is $15.32. Warby Parker has a 1 year low of $9.83 and a 1 year high of $18.37. The firm has a market capitalization of $1.76 billion, a P/E ratio of -44.74 and a beta of 1.80.

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

Insider Transactions at Warby Parker

In related news, CFO Steven Clive Miller sold 6,763 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $13.90, for a total value of $94,005.70. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Steven Clive Miller sold 6,763 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $13.90, for a total transaction of $94,005.70. Following the sale, 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Neil Harris Blumenthal sold 50,000 shares of Warby Parker stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $13.89, for a total transaction of $694,500.00. Following the sale, the chief executive officer now owns 12,177 shares in the company, valued at approximately $169,138.53. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 99,178 shares of company stock valued at $1,339,901. 26.55% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Warby Parker

A number of institutional investors have recently modified their holdings of WRBY. Vanguard Group Inc. lifted its stake in shares of Warby Parker by 7.7% in the fourth quarter. Vanguard Group Inc. now owns 8,457,986 shares of the company’s stock valued at $119,258,000 after buying an additional 607,352 shares in the last quarter. Principal Financial Group Inc. purchased a new position in shares of Warby Parker in the 1st quarter worth approximately $158,000. Janney Montgomery Scott LLC lifted its holdings in Warby Parker by 302.0% during the first quarter. Janney Montgomery Scott LLC now owns 48,245 shares of the company’s stock worth $657,000 after acquiring an additional 36,245 shares during the period. Jennison Associates LLC grew its stake in Warby Parker by 17.2% in the 1st quarter. Jennison Associates LLC now owns 1,000,138 shares of the company’s stock valued at $13,612,000 after purchasing an additional 146,697 shares during the period. Finally, Sciencast Management LP bought a new stake in shares of Warby Parker during the 1st quarter worth $145,000. 93.24% of the stock is owned by institutional investors.

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.