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

Warby Parker (NYSE:WRBY)‘s stock had its “outperform” rating reissued by research analysts at Telsey Advisory Group in a report issued on Thursday, Benzinga reports. They currently have a $19.00 target price on the stock. Telsey Advisory Group’s target price would suggest a potential upside of 0.18% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft raised shares of Warby Parker from a “neutral” rating to a “buy” rating and increased their target price for the company from $15.00 to $18.00 in a research report on Monday, October 21st. Loop Capital raised their price target on shares of Warby Parker from $15.00 to $16.00 and gave the stock a “hold” rating in a report on Wednesday, July 10th. BTIG Research boosted their price objective on shares of Warby Parker from $18.00 to $20.00 and gave the company a “buy” rating in a report on Friday, November 1st. JMP Securities upgraded Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 target price for the company in a research note on Friday, August 23rd. Finally, Stifel Nicolaus boosted their price target on Warby Parker from $14.00 to $15.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $17.30.

Warby Parker Stock Up 3.0 %

NYSE:WRBY opened at $18.97 on Thursday. Warby Parker has a 52 week low of $9.83 and a 52 week high of $19.60. The firm has a 50 day moving average of $15.74 and a 200 day moving average of $15.48. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of -48.63 and a beta of 1.80.

Warby Parker (NYSE:WRBY) last posted its earnings results on Thursday, August 8th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. Warby Parker had a negative net margin of 6.38% and a negative return on equity of 11.09%. The company had revenue of $188.22 million during the quarter, compared to analysts’ expectations of $186.89 million. As a group, analysts expect that Warby Parker will post -0.04 EPS for the current year.

Insider Activity

In related news, CEO Neil Harris Blumenthal sold 27,143 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $13.00, for a total transaction of $352,859.00. Following the sale, the chief executive officer now directly owns 12,177 shares of the company’s stock, valued at $158,301. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Bradley E. Singer acquired 50,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was acquired at an average price of $13.00 per share, for a total transaction of $650,000.00. Following the completion of the transaction, the director now owns 100,000 shares in the company, valued at approximately $1,300,000. The trade was a 100.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Neil Harris Blumenthal sold 27,143 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $13.00, for a total value of $352,859.00. Following the sale, the chief executive officer now owns 12,177 shares in the company, valued at $158,301. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 99,178 shares of company stock valued at $1,339,901 in the last quarter. 26.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Warby Parker

A number of hedge funds have recently bought and sold shares of the business. Advisors Asset Management Inc. increased its position in shares of Warby Parker by 79.9% in the first quarter. Advisors Asset Management Inc. now owns 5,125 shares of the company’s stock valued at $70,000 after buying an additional 2,276 shares in the last quarter. First Eagle Investment Management LLC purchased a new stake in Warby Parker in the 2nd quarter worth $131,000. Choreo LLC acquired a new position in Warby Parker during the second quarter worth $167,000. Sciencast Management LP acquired a new position in Warby Parker during the first quarter worth $145,000. Finally, AQR Capital Management LLC acquired a new position in Warby Parker during the second quarter worth $186,000. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Warby Parker Company Profile

Warby Parker Inc provides eyewear products in the United States and Canada. The company offers eyeglasses, sunglasses, light-responsive lenses, blue-light-filtering lenses, non-prescription lenses, and contact lenses. It also provides accessories, such as cases, lenses kit with anti-fog spray, pouches, and anti-fog lens spray through its retail stores, website, and mobile apps.