Warby Parker (NYSE:WRBY) Earns “Outperform” Rating from Telsey Advisory Group

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

Other research analysts have also issued research reports about the stock. Loop Capital upped their price objective on shares of Warby Parker from $15.00 to $16.00 and gave the company a “hold” rating in a research note on Wednesday, July 10th. Stifel Nicolaus upped their price target on shares of Warby Parker from $14.00 to $15.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. JMP Securities raised Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 price objective for the company in a research report on Friday, August 23rd. Deutsche Bank Aktiengesellschaft raised Warby Parker from a “neutral” rating to a “buy” rating and upped their target price for the stock from $15.00 to $18.00 in a research report on Monday, October 21st. Finally, Piper Sandler began 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. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $17.30.

Warby Parker Stock Up 3.1 %

WRBY opened at $17.45 on Thursday. The firm has a market capitalization of $1.76 billion, a P/E ratio of -44.74 and a beta of 1.80. The stock has a fifty day moving average of $15.57 and a 200-day moving average of $15.34. Warby Parker has a 12-month low of $9.83 and a 12-month high of $18.37.

Warby Parker (NYSE:WRBY) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $188.22 million during the quarter, compared to the consensus estimate of $186.89 million. On average, analysts expect that Warby Parker will post -0.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Warby Parker

In related news, CFO Steven Clive Miller sold 6,763 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $13.90, for a total transaction of $94,005.70. Following the transaction, the chief financial officer now owns 177,488 shares of the company’s stock, valued at approximately $2,467,083.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Warby Parker news, CEO Neil Harris Blumenthal sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $13.89, for a total value of $694,500.00. Following the completion of the sale, the chief executive officer now owns 12,177 shares in the company, valued at approximately $169,138.53. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Steven Clive Miller sold 6,763 shares of the business’s 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 sale, the chief financial officer now owns 177,488 shares in the company, valued at approximately $2,467,083.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 99,178 shares of company stock valued at $1,339,901 in the last 90 days. 26.55% of the stock is currently owned by insiders.

Institutional Trading of Warby Parker

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WRBY. SG Americas Securities LLC grew its position in Warby Parker by 610.3% during the 2nd quarter. SG Americas Securities LLC now owns 91,598 shares of the company’s stock worth $1,471,000 after acquiring an additional 78,702 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of 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 purchasing an additional 36,245 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in shares of Warby Parker by 113.3% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,477,410 shares of the company’s stock valued at $39,787,000 after buying an additional 1,315,672 shares in the last quarter. Vanguard Group Inc. raised its holdings 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 during the last quarter. Finally, Maverick Capital Ltd. acquired a new position in Warby Parker during the 2nd quarter worth about $1,465,000. Institutional investors own 93.24% of the company’s stock.

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.