National Vision (NASDAQ:EYE) Shares Gap Up on Strong Earnings

Shares of National Vision Holdings, Inc. (NASDAQ:EYE) gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $13.33, but opened at $14.95. National Vision shares last traded at $15.04, with a volume of 1,336,691 shares traded.

The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. National Vision had a positive return on equity of 3.52% and a negative net margin of 0.81%. The company had revenue of $510.32 million during the quarter, compared to the consensus estimate of $510.30 million. During the same period in the previous year, the company posted $0.32 EPS. The firm’s revenue was up 5.7% on a year-over-year basis.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on EYE shares. Citigroup boosted their target price on shares of National Vision from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Friday, March 7th. Loop Capital raised their price objective on National Vision from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday. Bank of America upgraded National Vision from an “underperform” rating to a “buy” rating in a report on Wednesday. Morgan Stanley decreased their price objective on National Vision from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 21st. Finally, Wells Fargo & Company raised their target price on shares of National Vision from $13.00 to $15.00 and gave the company an “equal weight” rating in a report on Thursday. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $15.43.

Institutional Investors Weigh In On National Vision

Institutional investors and hedge funds have recently modified their holdings of the business. Meeder Asset Management Inc. purchased a new stake in National Vision in the first quarter worth $35,000. GAMMA Investing LLC lifted its holdings in National Vision by 309.2% during the 4th quarter. GAMMA Investing LLC now owns 4,906 shares of the company’s stock valued at $51,000 after buying an additional 3,707 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in National Vision by 87.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,050 shares of the company’s stock worth $73,000 after acquiring an additional 3,291 shares in the last quarter. CWM LLC raised its stake in shares of National Vision by 61.2% during the first quarter. CWM LLC now owns 11,494 shares of the company’s stock valued at $147,000 after acquiring an additional 4,362 shares in the last quarter. Finally, Teacher Retirement System of Texas purchased a new stake in shares of National Vision in the first quarter valued at approximately $147,000.

National Vision Stock Performance

The firm has a 50 day moving average of $12.32 and a 200-day moving average of $11.66. The company has a market cap of $1.32 billion, a P/E ratio of -83.40, a PEG ratio of 3.27 and a beta of 1.02. The company has a quick ratio of 0.37, a current ratio of 0.57 and a debt-to-equity ratio of 0.30.

About National Vision

National Vision Holdings, Inc, through its subsidiaries, operates as an optical retailer in the United States. The company operates in two segments, Owned & Host and Legacy. It offers eyeglasses and contact lenses, and optical accessory products; provides eye exams through its America’s Best, Eyeglass World, Vista Optical, Fred Meyer, and Vista Optical military, as well as Vision Center branded stores; and offers health maintenance organization and optometric services.