Warby Parker (NYSE:WRBY) Raised to Hold at Zacks Investment Research

Warby Parker (NYSE:WRBYGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Friday, Zacks.com reports.

According to Zacks, “Warby Parker Inc. is a direct-to-consumer eyewear brand. Warby Parker Inc. is based in NEW YORK. “

Other analysts have also issued reports about the stock. Stifel Nicolaus began coverage on shares of Warby Parker in a report on Wednesday, March 30th. They set a “hold” rating and a $36.00 target price for the company. Robert W. Baird lowered their price target on shares of Warby Parker from $68.00 to $40.00 and set an “outperform” rating for the company in a research report on Friday, March 18th. The Goldman Sachs Group dropped their target price on Warby Parker from $42.00 to $36.00 in a report on Friday, March 18th. Loop Capital cut their price target on shares of Warby Parker from $52.00 to $27.00 in a report on Friday, March 18th. Finally, Citigroup reduced their price objective on Warby Parker from $54.00 to $41.00 and set a “buy” rating for the company in a report on Friday, March 18th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Warby Parker currently has a consensus rating of “Buy” and a consensus target price of $42.00.

Shares of WRBY opened at $28.18 on Friday. Warby Parker has a 1 year low of $22.59 and a 1 year high of $60.30. The company has a fifty day moving average price of $29.95.

Warby Parker (NYSE:WRBYGet Rating) last released its quarterly earnings data on Thursday, March 17th. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.02. The firm had revenue of $132.89 million during the quarter, compared to the consensus estimate of $133.35 million. Warby Parker’s revenue was up 17.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.04) earnings per share. On average, equities research analysts predict that Warby Parker will post -0.01 EPS for the current year.

In related news, CFO Steven Clive Miller sold 5,767 shares of the company’s stock in a transaction dated Thursday, March 10th. The shares were sold at an average price of $25.00, for a total value of $144,175.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Teresa Briggs sold 19,325 shares of the stock in a transaction that occurred on Monday, March 21st. The shares were sold at an average price of $30.01, for a total transaction of $579,943.25. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 1,690,382 shares of company stock worth $53,514,638 and sold 30,446 shares worth $857,968.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wolff Wiese Magana LLC bought a new position in shares of Warby Parker in the 4th quarter worth $67,000. Delta Asset Management LLC TN bought a new position in shares of Warby Parker during the 4th quarter worth approximately $69,000. Evoke Wealth LLC purchased a new stake in Warby Parker during the fourth quarter valued at approximately $88,000. CenterStar Asset Management LLC acquired a new stake in Warby Parker in the third quarter valued at approximately $99,000. Finally, Advisor Group Holdings Inc. grew its holdings in Warby Parker by 542.0% in the fourth quarter. Advisor Group Holdings Inc. now owns 2,478 shares of the company’s stock worth $115,000 after purchasing an additional 2,092 shares during the last quarter. 80.44% of the stock is currently owned by institutional investors and hedge funds.

Warby Parker Company Profile (Get Rating)

Warby Parker Inc provides eyewear products. It offers eyeglasses, sunglasses, light-responsive lenses, blue-light-filtering lenses, and contact lenses, as well as accessories, including cases, lenses kit with anti-fog spray, pouches, and anti-fog lens spray. The company also offers eye exams and vision tests directly to consumers through its retail stores, website, and mobile apps.

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