National Vision (NASDAQ:EYE) Shares Gap Up After Earnings Beat

National Vision Holdings, Inc. (NASDAQ:EYE)’s share price gapped up before the market opened on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $13.33, but opened at $14.95. National Vision shares last traded at $15.04, with a volume of 1,336,691 shares changing hands.

The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.32 by $0.02. The firm had revenue of $510.32 million during the quarter, compared to analyst estimates of $510.30 million. National Vision had a positive return on equity of 3.52% and a negative net margin of 0.81%. National Vision’s revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 EPS.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company increased their target price on shares of National Vision from $12.00 to $13.00 and gave the stock an “equal weight” rating in a report on Thursday, February 27th. Barclays increased their price objective on shares of National Vision from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Monday, March 3rd. Morgan Stanley lowered their target price on shares of National Vision from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 21st. Citigroup increased their price target on National Vision from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Friday, March 7th. Finally, Bank of America upgraded National Vision from an “underperform” rating to a “buy” rating in a research report on Wednesday. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, National Vision currently has a consensus rating of “Hold” and a consensus price target of $14.00.

Institutional Trading of National Vision

A number of institutional investors and hedge funds have recently bought and sold shares of EYE. Burgundy Asset Management Ltd. lifted its position in shares of National Vision by 138.6% in the fourth quarter. Burgundy Asset Management Ltd. now owns 4,675,539 shares of the company’s stock worth $48,719,000 after buying an additional 2,715,582 shares in the last quarter. Engine Capital Management LP increased its stake in National Vision by 127.5% in the 4th quarter. Engine Capital Management LP now owns 2,528,053 shares of the company’s stock worth $26,342,000 after acquiring an additional 1,417,002 shares during the last quarter. Boston Partners bought a new stake in National Vision in the 4th quarter worth approximately $12,594,000. SG Capital Management LLC purchased a new stake in shares of National Vision during the 4th quarter worth approximately $11,827,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of National Vision by 81.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,308,375 shares of the company’s stock valued at $24,053,000 after acquiring an additional 1,036,459 shares during the last quarter.

National Vision Stock Performance

The business’s fifty day moving average is $12.24 and its two-hundred day moving average is $11.62. The stock has a market capitalization of $1.23 billion, a PE ratio of -77.81, a price-to-earnings-growth ratio of 3.27 and a beta of 1.02. The company has a quick ratio of 0.37, a current ratio of 0.57 and a debt-to-equity ratio of 0.30.

About National Vision

National Vision Holdings, Inc, through its subsidiaries, operates as an optical retailer in the United States. The company operates in two segments, Owned & Host and Legacy. It offers eyeglasses and contact lenses, and optical accessory products; provides eye exams through its America’s Best, Eyeglass World, Vista Optical, Fred Meyer, and Vista Optical military, as well as Vision Center branded stores; and offers health maintenance organization and optometric services.