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

Shares of Warby Parker Inc. (NYSE:WRBY) have been assigned an average rating of “Moderate Buy” from the seventeen analysts that are presently covering the firm, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $27.3846.

Several brokerages recently commented on WRBY. UBS Group reduced their target price on shares of Warby Parker from $23.00 to $20.00 and set a “neutral” rating for the company in a report on Friday, November 7th. Weiss Ratings restated a “hold (c-)” rating on shares of Warby Parker in a research note on Monday, December 29th. The Goldman Sachs Group raised their price objective on Warby Parker from $27.00 to $31.00 and gave the company a “buy” rating in a report on Monday, October 6th. Robert W. Baird set a $35.00 target price on Warby Parker in a report on Wednesday, December 17th. Finally, Citigroup raised Warby Parker from a “hold” rating to an “outperform” rating in a research report on Wednesday, December 10th.

Insider Activity at Warby Parker

In related news, CEO Neil Harris Blumenthal sold 150,000 shares of the business’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $25.09, for a total transaction of $3,763,500.00. Following the transaction, the chief executive officer directly owned 37,119 shares in the company, valued at approximately $931,315.71. The trade was a 80.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Youngme E. Moon sold 38,832 shares of the company’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $29.07, for a total transaction of $1,128,846.24. Following the sale, the director directly owned 27,057 shares in the company, valued at $786,546.99. This trade represents a 58.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 359,424 shares of company stock valued at $9,813,571. 18.24% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Warby Parker

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC increased its position 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. boosted 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 period. Huntington National Bank increased its holdings in shares of Warby Parker by 111.0% during the 2nd quarter. Huntington National Bank now owns 1,675 shares of the company’s stock worth $37,000 after acquiring an additional 881 shares during the last quarter. NewEdge Advisors LLC increased its holdings 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. Finally, Neo Ivy Capital Management bought a new stake in Warby Parker in the 3rd quarter valued at $112,000. Institutional investors own 93.24% of the company’s stock.

Warby Parker Stock Performance

NYSE:WRBY opened at $26.47 on Thursday. The stock has a 50-day simple moving average of $23.46 and a 200 day simple moving average of $23.89. Warby Parker has a 52-week low of $13.63 and a 52-week high of $31.00. The company has a market cap of $2.80 billion, a PE ratio of 2,647.20 and a beta of 2.05.

Warby Parker (NYSE:WRBY) last released its quarterly 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 firm had revenue of $221.68 million for the quarter, compared to analyst estimates of $224.49 million. Warby Parker had a return on equity of 1.96% and a net margin of 0.08%.The company’s revenue was up 15.2% compared to the same quarter last year. During the same period last year, the company earned ($0.03) EPS. On average, research analysts predict that Warby Parker will post -0.12 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.