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

Warby Parker Inc. (NYSE:WRBY) has been assigned an average recommendation of “Moderate Buy” from the fourteen research firms that are presently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $29.50.

Several research firms have recently weighed in on WRBY. BTIG Research raised their price objective on shares of Warby Parker from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Piper Sandler reaffirmed an “overweight” rating on shares of Warby Parker in a report on Tuesday, May 19th. Citigroup reaffirmed a “market outperform” rating on shares of Warby Parker in a report on Friday. Telsey Advisory Group raised their price objective on shares of Warby Parker from $32.00 to $33.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Finally, UBS Group raised their price objective on shares of Warby Parker from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Friday, May 8th.

Insider Activity at Warby Parker

In related news, CEO Neil Harris Blumenthal sold 63,040 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $30.03, for a total value of $1,893,091.20. Following the completion of the sale, the chief executive officer owned 50,165 shares of the company’s stock, valued at $1,506,454.95. This trade represents a 55.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley E. Singer sold 4,833 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $29.01, for a total transaction of $140,205.33. Following the completion of the sale, the director directly owned 100,000 shares of the company’s stock, valued at approximately $2,901,000. This represents a 4.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 203,833 shares of company stock valued at $5,509,808. Company insiders own 16.80% of the company’s stock.

Institutional Trading of Warby Parker

Institutional investors have recently bought and sold shares of the business. Man Group plc grew its stake in Warby Parker by 1.6% in the 2nd quarter. Man Group plc now owns 25,095 shares of the company’s stock valued at $550,000 after buying an additional 400 shares during the last quarter. Farther Finance Advisors LLC grew its stake in Warby Parker by 41.4% in the 4th quarter. Farther Finance Advisors LLC now owns 1,687 shares of the company’s stock valued at $37,000 after buying an additional 494 shares during the last quarter. First Horizon Corp grew its stake in Warby Parker by 96.7% in the 4th 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. EverSource Wealth Advisors LLC grew its stake in Warby Parker by 105.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,310 shares of the company’s stock valued at $28,000 after buying an additional 673 shares during the last quarter. Finally, Choreo LLC grew its stake in Warby Parker by 4.6% in the 3rd quarter. Choreo LLC now owns 16,605 shares of the company’s stock valued at $458,000 after buying an additional 728 shares during the last quarter. Institutional investors and hedge funds own 93.24% of the company’s stock.

Warby Parker Stock Performance

NYSE WRBY opened at $25.56 on Wednesday. The firm has a 50-day simple moving average of $23.73 and a 200 day simple moving average of $23.66. Warby Parker has a twelve month low of $14.96 and a twelve month high of $31.00. The stock has a market cap of $2.74 billion, a PE ratio of 1,278.64 and a beta of 1.95.

Warby Parker (NYSE:WRBY) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.08). The business had revenue of $242.45 million for the quarter, compared to the consensus estimate of $239.44 million. Warby Parker had a return on equity of 2.30% and a net margin of 0.15%.The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.03 EPS. Research analysts forecast that Warby Parker will post 0.24 earnings per share for the current fiscal year.

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.