Warby Parker Inc. (NYSE:WRBY) Receives Consensus Rating of “Moderate Buy” from Analysts

Warby Parker Inc. (NYSE:WRBY) has been given an average rating of “Moderate Buy” by the sixteen ratings firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $27.8333.

Several equities analysts have weighed in on WRBY shares. UBS Group reaffirmed a “neutral” rating and set a $20.00 price target on shares of Warby Parker in a report on Wednesday, February 25th. Robert W. Baird set a $35.00 price objective on Warby Parker in a research note on Wednesday, December 17th. Citizens Jmp upgraded Warby Parker from a “market perform” rating to an “outperform” rating and set a $30.00 target price for the company in a research report on Wednesday, December 10th. Citigroup raised shares of Warby Parker from a “hold” rating to an “outperform” rating in a report on Wednesday, December 10th. Finally, Stifel Nicolaus lifted their price objective on shares of Warby Parker from $19.00 to $25.00 and gave the company a “hold” rating in a research report on Friday, December 12th.

Insider Activity

In other news, Director Joel E. Cutler sold 19,932 shares of the stock in a transaction that occurred 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 directly owned 20,000 shares in the company, valued at approximately $520,200. This represents a 49.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bradley E. Singer sold 15,793 shares of the firm’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $27.53, for a total transaction of $434,781.29. Following the completion of the transaction, the director directly owned 16,026 shares of the company’s stock, valued at approximately $441,195.78. This trade represents a 49.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 236,385 shares of company stock worth $6,090,506 over the last 90 days. Corporate insiders own 18.24% of the company’s stock.

Institutional Trading of Warby Parker

Hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC grew its holdings in Warby Parker by 259.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,193 shares of the company’s stock valued at $33,000 after purchasing an additional 861 shares during the last quarter. First Horizon Corp grew its stake in shares of Warby Parker by 96.7% during the fourth quarter. First Horizon Corp now owns 1,210 shares of the company’s stock valued at $26,000 after buying an additional 595 shares during the last quarter. Eagle Bay Advisors LLC purchased a new stake in shares of Warby Parker in the fourth quarter worth approximately $35,000. PNC Financial Services Group Inc. lifted its stake in shares of Warby Parker by 400.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,601 shares of the company’s stock worth $35,000 after acquiring an additional 1,281 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its stake in shares of Warby Parker by 56.7% during the 3rd quarter. NewEdge Advisors LLC now owns 2,350 shares of the company’s stock worth $65,000 after acquiring an additional 850 shares during the last quarter. 93.24% of the stock is currently owned by hedge funds and other institutional investors.

Warby Parker Price Performance

Shares of WRBY stock opened at $23.53 on Friday. Warby Parker has a 1 year low of $13.63 and a 1 year high of $31.00. The firm has a fifty day moving average price of $25.35 and a 200-day moving average price of $24.00. The company has a market cap of $2.51 billion, a price-to-earnings ratio of 1,177.29 and a beta of 2.05.

About Warby Parker

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.