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

Shares of Warby Parker Inc. (NYSE:WRBY) have received an average rating of “Moderate Buy” from the fourteen brokerages that are currently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $29.50.

Several equities analysts have recently commented on WRBY shares. BTIG Research upped their price objective on shares of Warby Parker from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Citigroup reaffirmed a “market outperform” rating on shares of Warby Parker in a research note on Friday, May 22nd. Telsey Advisory Group upped their price objective on shares of Warby Parker from $32.00 to $33.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. UBS Group upped their price objective on shares of Warby Parker from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Finally, Weiss Ratings raised shares of Warby Parker from a “sell (d)” rating to a “hold (c-)” rating in a research note on Monday, May 11th.

Insider Activity at Warby Parker

In related news, Director Teresa Briggs sold 5,000 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $25.94, for a total value of $129,700.00. Following the completion of the transaction, the director directly owned 48,883 shares of the company’s stock, valued at $1,268,025.02. This represents a 9.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Neil Harris Blumenthal sold 75,213 shares of the stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $24.56, for a total transaction of $1,847,231.28. Following the completion of the transaction, the chief executive officer directly owned 50,165 shares of the company’s stock, valued at approximately $1,232,052.40. The trade was a 59.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 203,040 shares of company stock valued at $5,470,026 in the last three months. Corporate insiders own 16.80% of the company’s stock.

Hedge Funds Weigh In On Warby Parker

A number of institutional investors have recently bought and sold shares of WRBY. First Horizon Corp raised its stake in Warby Parker by 96.7% in the fourth quarter. First Horizon Corp now owns 1,210 shares of the company’s stock worth $26,000 after buying an additional 595 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Warby Parker by 105.7% in the first quarter. EverSource Wealth Advisors LLC now owns 1,310 shares of the company’s stock worth $28,000 after buying an additional 673 shares in the last quarter. Eagle Bay Advisors LLC bought a new position in Warby Parker in the fourth quarter worth about $35,000. Farther Finance Advisors LLC raised its stake in Warby Parker by 41.4% in the fourth quarter. Farther Finance Advisors LLC now owns 1,687 shares of the company’s stock worth $37,000 after buying an additional 494 shares in the last quarter. Finally, Parallel Advisors LLC raised its stake in Warby Parker by 110.7% in the first quarter. Parallel Advisors LLC now owns 1,837 shares of the company’s stock worth $39,000 after buying an additional 965 shares in the last quarter. 93.24% of the stock is owned by institutional investors.

Warby Parker Trading Down 0.1%

Shares of NYSE:WRBY opened at $25.95 on Friday. The company has a market cap of $2.78 billion, a price-to-earnings ratio of 1,298.00 and a beta of 1.96. The company has a 50-day moving average price of $24.78 and a 200-day moving average price of $24.51. Warby Parker has a 12 month low of $14.96 and a 12 month high of $31.00.

Warby Parker (NYSE:WRBY) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.08). The firm had revenue of $242.45 million for the quarter, compared to the consensus estimate of $239.44 million. Warby Parker had a net margin of 0.15% and a return on equity of 2.30%. The business’s revenue was up 8.4% on a year-over-year basis. During the same period last year, the company posted $0.03 earnings per share. As a group, research analysts forecast that Warby Parker will post 0.19 EPS for the current fiscal year.

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.