Warby Parker (NYSE:WRBY) Price Target Raised to $32.00 at BTIG Research

Warby Parker (NYSE:WRBY) had its price target increased by BTIG Research from $25.00 to $32.00 in a research report released on Thursday, MarketBeat reports. They currently have a buy rating on the stock.

WRBY has been the subject of several other research reports. Telsey Advisory Group restated an “outperform” rating and set a $24.00 price target on shares of Warby Parker in a report on Tuesday, November 18th. UBS Group lowered their target price on shares of Warby Parker from $23.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, November 7th. Zacks Research upgraded shares of Warby Parker from a “strong sell” rating to a “hold” rating in a report on Thursday, September 4th. Citigroup upgraded Warby Parker from a “hold” rating to an “outperform” rating in a report on Wednesday. Finally, Citizens Jmp raised Warby Parker from a “market perform” rating to an “outperform” rating and set a $30.00 price objective for the company in a research report on Wednesday. Eleven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, Warby Parker currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.31.

Warby Parker Stock Up 2.1%

Shares of NYSE:WRBY opened at $30.18 on Thursday. The firm has a market cap of $3.19 billion, a P/E ratio of 3,018.00 and a beta of 2.06. Warby Parker has a 12-month low of $13.63 and a 12-month high of $31.00. The business has a fifty day simple moving average of $20.56 and a 200 day simple moving average of $22.96.

Warby Parker (NYSE:WRBY) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.03). Warby Parker had a net margin of 0.08% and a return on equity of 1.96%. The company had revenue of $221.68 million during the quarter, compared to analyst estimates of $224.49 million. During the same period in the previous year, the company posted ($0.03) EPS. The company’s quarterly revenue was up 15.2% on a year-over-year basis. As a group, equities research analysts expect that Warby Parker will post -0.12 EPS for the current year.

Insider Transactions at Warby Parker

In other Warby Parker news, CEO Neil Harris Blumenthal sold 8,416 shares of the firm’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $27.52, for a total value of $231,608.32. Following the completion of the sale, the chief executive officer owned 32,733 shares of the company’s stock, valued at approximately $900,812.16. This trade represents a 20.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 18.24% of the company’s stock.

Institutional Investors Weigh In On Warby Parker

A number of hedge funds have recently made changes to their positions in WRBY. CIBC Bancorp USA Inc. purchased a new position in Warby Parker in the third quarter valued at about $289,000. NewEdge Advisors LLC raised its holdings in shares of Warby Parker by 56.7% in the 3rd quarter. NewEdge Advisors LLC now owns 2,350 shares of the company’s stock worth $65,000 after purchasing an additional 850 shares during the period. Shelton Capital Management lifted its stake in Warby Parker by 100.6% in the third quarter. Shelton Capital Management now owns 32,100 shares of the company’s stock valued at $885,000 after purchasing an additional 16,100 shares during the last quarter. Mariner LLC grew its holdings in Warby Parker by 6.2% during the third quarter. Mariner LLC now owns 25,602 shares of the company’s stock valued at $706,000 after purchasing an additional 1,502 shares during the period. Finally, Lombard Odier Asset Management USA Corp grew its holdings in Warby Parker by 9.1% during the third quarter. Lombard Odier Asset Management USA Corp now owns 18,818 shares of the company’s stock valued at $519,000 after purchasing an additional 1,566 shares during the period. 93.24% of the stock is currently owned by 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.