Warby Parker Inc. (NYSE:WRBY) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Warby Parker Inc. (NYSE:WRBY) has been given a consensus recommendation of “Moderate Buy” by the sixteen ratings firms that are covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $22.00.

Several research firms have commented on WRBY. Stifel Nicolaus dropped their price target on shares of Warby Parker from $25.00 to $18.00 and set a “hold” rating for the company in a research note on Thursday, April 10th. Roth Mkm began coverage on shares of Warby Parker in a research note on Tuesday, February 25th. They issued a “neutral” rating and a $26.00 price target for the company. Morgan Stanley boosted their price target on shares of Warby Parker from $17.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. Loop Capital upgraded shares of Warby Parker from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Thursday, April 17th. Finally, Evercore ISI reiterated an “in-line” rating and set a $23.00 target price on shares of Warby Parker in a research note on Friday, January 17th.

Warby Parker Stock Up 0.8%

NYSE:WRBY opened at $17.71 on Friday. The company has a fifty day simple moving average of $16.96 and a two-hundred day simple moving average of $21.53. The company has a market cap of $1.85 billion, a price-to-earnings ratio of -65.59 and a beta of 2.01. Warby Parker has a 52 week low of $12.46 and a 52 week high of $28.68.

Insider Buying and Selling at Warby Parker

In other news, CEO Neil Harris Blumenthal sold 27,967 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $23.52, for a total value of $657,783.84. Following the completion of the sale, the chief executive officer now directly owns 23,961 shares of the company’s stock, valued at approximately $563,562.72. This represents a 53.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Steven Clive Miller sold 11,684 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $23.52, for a total transaction of $274,807.68. Following the completion of the sale, the chief financial officer now directly owns 204,727 shares of the company’s stock, valued at $4,815,179.04. The trade was a 5.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. 26.55% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Warby Parker

A number of institutional investors and hedge funds have recently made changes to their positions in WRBY. Global Retirement Partners LLC purchased a new stake in shares of Warby Parker in the fourth quarter valued at about $25,000. New York State Teachers Retirement System purchased a new stake in shares of Warby Parker in the first quarter valued at about $27,000. NewEdge Advisors LLC raised its holdings 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 buying an additional 1,050 shares during the last quarter. Jones Financial Companies Lllp raised its holdings 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 valued at $37,000 after buying an additional 1,028 shares during the last quarter. Finally, Comerica Bank raised its holdings 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 purchasing an additional 1,386 shares in the last quarter. 93.24% of the stock is owned by hedge funds and other 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.