Telsey Advisory Group Reaffirms “Outperform” Rating for Warby Parker (NYSE:WRBY)

Warby Parker (NYSE:WRBY)‘s stock had its “outperform” rating reissued by equities researchers at Telsey Advisory Group in a research note issued on Thursday,Benzinga reports. They presently have a $30.00 price target on the stock. Telsey Advisory Group’s price objective suggests a potential upside of 77.51% from the stock’s current price.

A number of other brokerages have also issued reports on WRBY. Citigroup raised Warby Parker from a “sell” rating to a “neutral” rating and decreased their price target for the company from $23.00 to $17.00 in a research note on Wednesday. UBS Group lifted their target price on Warby Parker from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, February 28th. Roth Capital upgraded shares of Warby Parker to a “strong-buy” rating in a research report on Monday, February 24th. Stifel Nicolaus reduced their price objective on shares of Warby Parker from $25.00 to $18.00 and set a “hold” rating for the company in a research report on Thursday, April 10th. Finally, Morgan Stanley boosted their target price on shares of Warby Parker from $17.00 to $23.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.64.

Warby Parker Trading Up 2.5 %

Shares of NYSE:WRBY opened at $16.90 on Thursday. The company has a 50 day moving average of $18.07 and a 200-day moving average of $21.52. The firm has a market cap of $1.75 billion, a P/E ratio of -62.59 and a beta of 2.00. Warby Parker has a twelve month low of $12.26 and a twelve month high of $28.68.

Insiders Place Their Bets

In other Warby Parker news, CEO Neil Harris Blumenthal sold 27,967 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $23.52, for a total value of $657,783.84. Following the transaction, the chief executive officer now directly owns 23,961 shares of the company’s stock, valued at $563,562.72. This represents a 53.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Steven Clive Miller sold 11,684 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $23.52, for a total transaction of $274,807.68. Following the transaction, the chief financial officer now directly owns 204,727 shares in the company, valued at approximately $4,815,179.04. The trade was a 5.40 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 26.55% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in WRBY. Global Retirement Partners LLC bought a new stake in Warby Parker during the 4th quarter valued at approximately $25,000. New York State Teachers Retirement System acquired a new position in shares of Warby Parker during the first quarter worth approximately $27,000. NewEdge Advisors LLC boosted its position in shares of Warby Parker by 700.0% in the fourth quarter. NewEdge Advisors LLC now owns 1,200 shares of the company’s stock valued at $29,000 after acquiring an additional 1,050 shares during the period. Jones Financial Companies Lllp grew its stake in shares of Warby Parker by 205.6% in the fourth quarter. Jones Financial Companies Lllp now owns 1,528 shares of the company’s stock worth $37,000 after acquiring an additional 1,028 shares during the last quarter. Finally, Comerica Bank increased its position in Warby Parker by 153.1% during the fourth quarter. Comerica Bank now owns 2,291 shares of the company’s stock worth $55,000 after acquiring an additional 1,386 shares during the period. 93.24% of the stock is owned by institutional investors.

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.