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

Shares of Warby Parker Inc. (NYSE:WRBY) have received an average rating of “Moderate Buy” from the ten ratings firms that are currently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $17.30.

WRBY has been the topic of a number of research analyst reports. Telsey Advisory Group reissued an “outperform” rating and set a $19.00 price objective on shares of Warby Parker in a report on Thursday. Deutsche Bank Aktiengesellschaft raised shares of Warby Parker from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $15.00 to $18.00 in a report on Monday, October 21st. Piper Sandler initiated coverage on shares of Warby Parker in a report on Friday, August 23rd. They set an “overweight” rating and a $18.00 price objective on the stock. BTIG Research boosted their price objective on shares of Warby Parker from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Friday. Finally, Loop Capital boosted their price objective 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.

Insider Buying and Selling at Warby Parker

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

Hedge Funds Weigh In On Warby Parker

Institutional investors and hedge funds have recently modified their holdings of the company. Advisors Asset Management Inc. increased its position in Warby Parker by 79.9% during the first quarter. Advisors Asset Management Inc. now owns 5,125 shares of the company’s stock worth $70,000 after purchasing an additional 2,276 shares during the last quarter. First Eagle Investment Management LLC acquired a new position in Warby Parker during the second quarter worth approximately $131,000. Sciencast Management LP acquired a new position in Warby Parker during the first quarter worth approximately $145,000. Principal Financial Group Inc. acquired a new position in Warby Parker during the first quarter worth approximately $158,000. Finally, Choreo LLC acquired a new position in Warby Parker during the second quarter worth approximately $167,000. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Warby Parker Stock Up 3.1 %

Shares of Warby Parker stock opened at $17.45 on Tuesday. Warby Parker has a 52-week low of $9.83 and a 52-week high of $18.37. The company’s 50-day simple moving average is $15.57 and its 200-day simple moving average is $15.32. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of -44.74 and a beta of 1.80.

Warby Parker (NYSE:WRBY) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping 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 business had revenue of $188.22 million for the quarter, compared to analyst estimates of $186.89 million. Equities research analysts anticipate that Warby Parker will post -0.04 EPS for the current year.

About Warby Parker

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.