Warby Parker (NYSE:WRBY) Rating Increased to Outperform at William Blair

William Blair upgraded shares of Warby Parker (NYSE:WRBY) from a market perform rating to an outperform rating in a research note published on Thursday, Marketbeat reports.

Other equities analysts have also issued reports about the stock. 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. BTIG Research raised their price objective on shares of Warby Parker from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $19.00 target price on shares of Warby Parker in a research report on Thursday. Piper Sandler started coverage on Warby Parker in a research note on Friday, August 23rd. They set an “overweight” rating and a $18.00 target price on the stock. Finally, Stifel Nicolaus boosted their price target on Warby Parker from $14.00 to $15.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.18.

Warby Parker Stock Performance

Warby Parker stock opened at $19.51 on Thursday. The stock has a 50-day simple moving average of $15.92 and a 200 day simple moving average of $15.57. The stock has a market capitalization of $1.96 billion, a P/E ratio of -50.03 and a beta of 1.80. Warby Parker has a 52 week low of $9.83 and a 52 week high of $19.93.

Warby Parker (NYSE:WRBY) last posted its earnings results on Thursday, August 8th. The company reported ($0.03) earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $186.89 million. Research analysts forecast that Warby Parker will post -0.04 earnings per share for the current year.

Insider Activity

In related news, CFO Steven Clive Miller sold 15,272 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 transaction of $198,536.00. Following the sale, the chief financial officer now owns 184,251 shares in the company, valued at approximately $2,395,263. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Steven Clive Miller sold 15,272 shares of the company’s stock in a transaction 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 directly 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 filing with the Securities & Exchange Commission, which is available through this link. Also, Director Bradley E. Singer bought 50,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was acquired at an average price of $13.00 per share, for a total transaction of $650,000.00. Following the transaction, the director now owns 100,000 shares of the company’s stock, valued at approximately $1,300,000. The trade was a 100.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 99,178 shares of company stock worth $1,339,901. 26.55% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Warby Parker

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. increased its holdings 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 buying an additional 2,276 shares in the last quarter. First Eagle Investment Management LLC bought a new stake in Warby Parker during the 2nd quarter worth $131,000. Sciencast Management LP bought a new position in Warby Parker in the first quarter valued at about $145,000. Choreo LLC bought a new position in Warby Parker in the second quarter valued at about $167,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Warby Parker during the first quarter valued at about $176,000. Institutional investors own 93.24% of the company’s stock.

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.