Warby Parker Inc. (NYSE:WRBY) Receives Average Recommendation of “Hold” from Brokerages

Shares of Warby Parker Inc. (NYSE:WRBY) have received a consensus rating of “Hold” from the eight ratings firms that are currently covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $16.29.

A number of equities analysts have commented on the stock. Telsey Advisory Group reiterated an “outperform” rating and issued a $19.00 target price on shares of Warby Parker in a report on Wednesday, February 28th. Morgan Stanley boosted their target price on shares of Warby Parker from $12.00 to $13.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 24th.

Insider Activity

In other news, CFO Steven Clive Miller sold 8,708 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $11.88, for a total transaction of $103,451.04. Following the transaction, the chief financial officer now owns 191,104 shares in the company, valued at $2,270,315.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO David Abraham Gilboa sold 52,065 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $12.20, for a total value of $635,193.00. Following the transaction, the chief executive officer now owns 12,306 shares in the company, valued at approximately $150,133.20. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Steven Clive Miller sold 8,708 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $11.88, for a total transaction of $103,451.04. Following the completion of the transaction, the chief financial officer now owns 191,104 shares in the company, valued at approximately $2,270,315.52. The disclosure for this sale can be found here. Insiders have sold a total of 89,084 shares of company stock worth $1,074,979 over the last 90 days. 26.91% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Warby Parker

Hedge funds and other institutional investors have recently bought and sold shares of the business. Polen Capital Management LLC increased its holdings in Warby Parker by 12.5% in the 3rd quarter. Polen Capital Management LLC now owns 369,840 shares of the company’s stock worth $4,867,000 after buying an additional 40,982 shares during the period. AIA Group Ltd boosted its position in Warby Parker by 49.8% in the 4th quarter. AIA Group Ltd now owns 164,861 shares of the company’s stock worth $2,325,000 after purchasing an additional 54,839 shares in the last quarter. Vanguard Group Inc. boosted its position in Warby Parker by 2.9% in the 3rd quarter. Vanguard Group Inc. now owns 7,850,634 shares of the company’s stock worth $103,314,000 after purchasing an additional 219,160 shares in the last quarter. Rock Springs Capital Management LP boosted its position in Warby Parker by 18.9% in the 3rd quarter. Rock Springs Capital Management LP now owns 1,575,000 shares of the company’s stock worth $20,727,000 after purchasing an additional 250,000 shares in the last quarter. Finally, CenterBook Partners LP purchased a new stake in Warby Parker in the 3rd quarter worth approximately $2,430,000. Institutional investors and hedge funds own 93.24% of the company’s stock.

Warby Parker Price Performance

NYSE:WRBY opened at $12.79 on Tuesday. The firm has a market cap of $1.27 billion, a PE ratio of -23.69 and a beta of 1.64. The company has a 50-day moving average of $12.69 and a 200 day moving average of $12.77. Warby Parker has a 1-year low of $9.83 and a 1-year high of $16.49.

Warby Parker (NYSE:WRBY) last announced its earnings results on Wednesday, February 28th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.04). The firm had revenue of $161.86 million during the quarter, compared to the consensus estimate of $161.01 million. Warby Parker had a negative return on equity of 16.36% and a negative net margin of 9.44%. Sell-side analysts anticipate that Warby Parker will post -0.13 EPS for the current fiscal year.

About Warby Parker

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.