Warby Parker’s (WRBY) “Outperform” Rating Reaffirmed at Telsey Advisory Group

Telsey Advisory Group reissued their outperform rating on shares of Warby Parker (NYSE:WRBY) in a report released on Tuesday,Benzinga reports. The brokerage currently has a $32.00 price target on the stock.

WRBY has been the subject of a number of other reports. Robert W. Baird set a $35.00 price objective on Warby Parker in a report on Wednesday, December 17th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Warby Parker in a research report on Monday, December 29th. Wall Street Zen cut Warby Parker from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Citizens Jmp raised Warby Parker from a “market perform” rating to an “outperform” rating and set a $30.00 price objective on the stock in a research note on Wednesday, December 10th. Finally, Stifel Nicolaus upped their target price on Warby Parker from $19.00 to $25.00 and gave the company a “hold” rating in a report on Friday, December 12th. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $27.38.

Warby Parker Price Performance

WRBY opened at $22.55 on Tuesday. Warby Parker has a fifty-two week low of $13.63 and a fifty-two week high of $31.00. The company’s 50 day moving average price is $25.55 and its two-hundred day moving average price is $24.13. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of 2,255.00 and a beta of 2.05.

Insider Buying and Selling

In other Warby Parker news, Director Youngme E. Moon sold 38,832 shares of Warby Parker stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $29.07, for a total value of $1,128,846.24. Following the completion of the sale, the director directly owned 27,057 shares in the company, valued at approximately $786,546.99. The trade was a 58.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Neil Harris Blumenthal sold 50,000 shares of the stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $27.08, for a total value of $1,354,000.00. Following the transaction, the chief executive officer owned 37,119 shares in the company, valued at $1,005,182.52. The trade was a 57.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 359,424 shares of company stock valued at $9,813,571 over the last 90 days. Company insiders own 18.24% of the company’s stock.

Institutional Investors Weigh In On Warby Parker

Several hedge funds and other institutional investors have recently modified their holdings of the company. First Horizon Corp lifted its holdings in shares of Warby Parker by 96.7% in the 4th quarter. First Horizon Corp now owns 1,210 shares of the company’s stock worth $26,000 after purchasing an additional 595 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in Warby Parker by 259.3% during the third quarter. Farther Finance Advisors LLC now owns 1,193 shares of the company’s stock worth $33,000 after buying an additional 861 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Warby Parker by 400.3% in the second quarter. PNC Financial Services Group Inc. now owns 1,601 shares of the company’s stock valued at $35,000 after buying an additional 1,281 shares in the last quarter. Eagle Bay Advisors LLC bought a new position in shares of Warby Parker in the fourth quarter valued at $35,000. Finally, Huntington National Bank grew its holdings in shares of Warby Parker by 111.0% during the second quarter. Huntington National Bank now owns 1,675 shares of the company’s stock valued at $37,000 after buying an additional 881 shares during the last quarter. Institutional investors own 93.24% of the company’s stock.

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.