Warby Parker Inc. (NYSE:WRBY) Given Average Rating of “Moderate Buy” by Analysts

Warby Parker Inc. (NYSE:WRBY) has been assigned an average rating of “Moderate Buy” from the nineteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $26.75.

Several research analysts recently weighed in on WRBY shares. Zacks Research upgraded shares of Warby Parker from a “strong sell” rating to a “hold” rating in a research report on Thursday, September 4th. Weiss Ratings reissued a “hold (c-)” rating on shares of Warby Parker in a research note on Monday, December 22nd. UBS Group lowered their price objective on shares of Warby Parker from $23.00 to $20.00 and set a “neutral” rating on the stock in a research report on Friday, November 7th. Citizens Jmp raised shares of Warby Parker from a “market perform” rating to an “outperform” rating and set a $30.00 price objective for the company in a report on Wednesday, December 10th. Finally, Robert W. Baird set a $35.00 target price on Warby Parker in a research note on Wednesday, December 17th.

Insider Activity

In related news, CEO Neil Harris Blumenthal sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $30.29, for a total transaction of $3,029,000.00. Following the completion of the transaction, the chief executive officer owned 37,119 shares in the company, valued at $1,124,334.51. This represents a 72.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joel E. Cutler sold 19,932 shares of the company’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $26.01, for a total transaction of $518,431.32. Following the completion of the transaction, the director owned 20,000 shares of the company’s stock, valued at $520,200. This trade represents a 49.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 158,764 shares of company stock valued at $4,676,278. Insiders own 18.24% of the company’s stock.

Hedge Funds Weigh In On Warby Parker

Several institutional investors and hedge funds have recently added to or reduced their stakes in WRBY. JPMorgan Chase & Co. lifted its holdings in shares of Warby Parker by 987.8% during the second quarter. JPMorgan Chase & Co. now owns 5,182,573 shares of the company’s stock valued at $113,654,000 after purchasing an additional 4,706,148 shares during the last quarter. Artisan Partners Limited Partnership bought a new position in Warby Parker during the 2nd quarter valued at approximately $27,589,000. Durable Capital Partners LP raised its stake in Warby Parker by 13.2% during the first quarter. Durable Capital Partners LP now owns 10,212,383 shares of the company’s stock valued at $186,172,000 after buying an additional 1,194,558 shares during the last quarter. 12 West Capital Management LP purchased a new position in Warby Parker during the first quarter valued at $21,420,000. Finally, Vaughan Nelson Investment Management L.P. boosted its holdings in Warby Parker by 105.5% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,216,320 shares of the company’s stock worth $48,604,000 after acquiring an additional 1,137,970 shares in the last quarter. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Warby Parker Stock Down 8.1%

Warby Parker stock opened at $24.19 on Friday. The firm has a 50 day moving average price of $21.23 and a 200-day moving average price of $23.38. Warby Parker has a twelve month low of $13.63 and a twelve month high of $31.00. The company has a market capitalization of $2.56 billion, a P/E ratio of 2,418.60 and a beta of 2.06.

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

Warby Parker Company Profile

Warby Parker, Inc (NYSE: WRBY) is a U.S.-based eyewear company that designs, manufactures and sells prescription glasses, sunglasses and contact lenses through a direct-to-consumer model. Since its founding, the company has combined online and brick-and-mortar channels to streamline the customer experience, offering features such as virtual try-on technology and a home try-on program that allows consumers to sample frames before purchase.

Established in 2010 by Wharton graduates Neil Blumenthal, Dave Gilboa, Andrew Hunt and Jeffrey Raider, Warby Parker set out to disrupt the traditional optical market by controlling the entire supply chain—from frame design and lens production to warehousing and distribution.