TD Securities Forecasts Strong Price Appreciation for Warby Parker (NYSE:WRBY) Stock

Warby Parker (NYSE:WRBY) had its target price hoisted by TD Securities from $20.00 to $24.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Securities’ price target would suggest a potential upside of 19.05% from the company’s previous close.

A number of other equities research analysts have also weighed in on the stock. JMP Securities lowered their target price on shares of Warby Parker from $30.00 to $22.00 and set a “market outperform” rating on the stock in a report on Monday, April 14th. Robert W. Baird upped their price target on Warby Parker from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Friday, February 28th. 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 report on Thursday, April 17th. Citigroup upgraded shares of Warby Parker from a “sell” rating to a “neutral” rating and cut their price target for the company from $23.00 to $17.00 in a research report on Wednesday, April 30th. Finally, The Goldman Sachs Group increased their target price on shares of Warby Parker from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $22.56.

Warby Parker Trading Up 0.6%

Shares of WRBY opened at $20.16 on Wednesday. Warby Parker has a 12 month low of $12.46 and a 12 month high of $28.68. The firm’s fifty day simple moving average is $16.89 and its two-hundred day simple moving average is $21.59. The stock has a market capitalization of $2.11 billion, a P/E ratio of -74.67 and a beta of 2.01.

Insider Buying and Selling

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 transaction of $657,783.84. Following the completion of the sale, the chief executive officer now owns 23,961 shares of the company’s stock, valued at $563,562.72. This represents a 53.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Steven Clive Miller sold 11,684 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $23.52, for a total value of $274,807.68. Following the completion of the sale, the chief financial officer now owns 204,727 shares of the company’s stock, valued at $4,815,179.04. This trade represents 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 owned by company insiders.

Institutional Investors Weigh In On Warby Parker

A number of institutional investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC purchased a new position in Warby Parker during the fourth quarter worth $25,000. New York State Teachers Retirement System bought a new stake in shares of Warby Parker in the 1st quarter valued at about $27,000. NewEdge Advisors LLC boosted its stake in Warby Parker by 700.0% in the 4th quarter. NewEdge Advisors LLC now owns 1,200 shares of the company’s stock worth $29,000 after purchasing an additional 1,050 shares in the last quarter. Jones Financial Companies Lllp lifted its position in Warby Parker by 205.6% during the 4th 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 period. Finally, Comerica Bank lifted its holdings in shares of Warby Parker by 153.1% in the 4th quarter. Comerica Bank now owns 2,291 shares of the company’s stock valued at $55,000 after buying an additional 1,386 shares during the period. 93.24% of the stock is owned by hedge funds and other institutional investors.

Warby Parker Company Profile

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.