Warby Parker (NYSE:WRBY) Upgraded by Deutsche Bank Aktiengesellschaft to “Buy”

Warby Parker (NYSE:WRBY) was upgraded by equities researchers at Deutsche Bank Aktiengesellschaft from a “neutral” rating to a “buy” rating in a report issued on Monday, Benzinga reports. The firm presently has a $18.00 target price on the stock, up from their prior target price of $15.00. Deutsche Bank Aktiengesellschaft’s target price points to a potential upside of 8.76% from the company’s previous close.

WRBY has been the topic of several other research reports. Telsey Advisory Group reissued an “outperform” rating and issued a $19.00 target price on shares of Warby Parker in a report on Thursday, August 8th. JMP Securities raised Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 price objective on the stock in a research note on Friday, August 23rd. Piper Sandler assumed coverage on Warby Parker in a research note on Friday, August 23rd. They set an “overweight” rating and a $18.00 price objective on the stock. Loop Capital increased their price objective on Warby Parker from $15.00 to $16.00 and gave the company a “hold” rating in a research note on Wednesday, July 10th. Finally, Stifel Nicolaus increased their price objective 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 investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $16.88.

Warby Parker Price Performance

Shares of WRBY stock opened at $16.55 on Monday. The business’s fifty day moving average price is $14.87 and its 200 day moving average price is $15.06. Warby Parker has a 1-year low of $9.83 and a 1-year high of $17.95. The firm has a market capitalization of $1.67 billion, a PE ratio of -42.44 and a beta of 1.82.

Warby Parker (NYSE:WRBY) last announced its quarterly earnings data 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. The firm had revenue of $188.22 million for the quarter, compared to analyst estimates of $186.89 million. Warby Parker had a negative return on equity of 11.09% and a negative net margin of 6.38%. Equities research analysts expect that Warby Parker will post -0.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Steven Clive Miller sold 6,763 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $13.90, for a total value of $94,005.70. Following the transaction, the chief financial officer now directly owns 177,488 shares in the company, valued at $2,467,083.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Steven Clive Miller sold 6,763 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $13.90, for a total value of $94,005.70. Following the transaction, the chief financial officer now directly owns 177,488 shares in the company, valued at $2,467,083.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Neil Harris Blumenthal sold 27,143 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $13.00, for a total value of $352,859.00. Following the completion of the transaction, the chief executive officer now owns 12,177 shares in the company, valued at approximately $158,301. This trade represents 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 worth $1,339,901. 26.55% of the stock is owned by company insiders.

Institutional Investors Weigh In On Warby Parker

A number of large investors have recently modified their holdings of the stock. Jacobson & Schmitt Advisors LLC grew its stake in shares of Warby Parker by 0.3% in the first quarter. Jacobson & Schmitt Advisors LLC now owns 408,105 shares of the company’s stock valued at $5,554,000 after buying an additional 1,397 shares in the last quarter. ProShare Advisors LLC grew its stake in Warby Parker by 10.2% during the 1st quarter. ProShare Advisors LLC now owns 15,470 shares of the company’s stock valued at $211,000 after purchasing an additional 1,434 shares in the last quarter. Advisors Asset Management Inc. grew its stake 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 in the last quarter. Hsbc Holdings PLC grew its stake in Warby Parker by 11.5% during the 2nd quarter. Hsbc Holdings PLC now owns 25,696 shares of the company’s stock valued at $413,000 after purchasing an additional 2,651 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Warby Parker by 7.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 44,667 shares of the company’s stock valued at $717,000 after purchasing an additional 3,007 shares in the last quarter. Institutional investors and hedge funds 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.