Warby Parker (NYSE:WRBY) Price Target Raised to $16.00

Warby Parker (NYSE:WRBY) had its price target lifted by equities researchers at Loop Capital from $15.00 to $16.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “hold” rating on the stock. Loop Capital’s target price suggests a potential upside of 2.43% from the company’s previous close.

A number of other research analysts have also weighed in on the company. Telsey Advisory Group restated an “outperform” rating and set a $19.00 price objective on shares of Warby Parker in a research report on Thursday, May 9th. UBS Group raised their price objective on Warby Parker from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Friday, May 10th. Finally, Morgan Stanley raised their price objective on Warby Parker from $13.00 to $14.00 and gave the company an “equal weight” rating in a research report on Friday, May 10th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $16.43.

Warby Parker Stock Performance

Shares of WRBY stock opened at $15.62 on Wednesday. Warby Parker has a 52-week low of $9.83 and a 52-week high of $17.95. The firm has a market capitalization of $1.55 billion, a PE ratio of -33.23 and a beta of 1.82. The stock has a fifty day simple moving average of $15.96 and a two-hundred day simple moving average of $14.18.

Warby Parker (NYSE:WRBY) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. The firm had revenue of $200.00 million during the quarter, compared to analyst estimates of $196.25 million. Warby Parker had a negative return on equity of 13.19% and a negative net margin of 7.89%. On average, sell-side analysts forecast that Warby Parker will post -0.09 EPS for the current fiscal year.

Insider Activity at Warby Parker

In related news, CFO Steven Clive Miller sold 15,709 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $17.04, for a total value of $267,681.36. Following the completion of the transaction, the chief financial officer now owns 166,879 shares of the company’s stock, valued at approximately $2,843,618.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Warby Parker news, CFO Steven Clive Miller sold 15,709 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $17.04, for a total value of $267,681.36. Following the completion of the sale, the chief financial officer now owns 166,879 shares of the company’s stock, valued at $2,843,618.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder D1 Capital Partners L.P. sold 5,500,000 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $15.66, for a total transaction of $86,130,000.00. Following the completion of the sale, the insider now directly owns 9,444,023 shares of the company’s stock, valued at approximately $147,893,400.18. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,848,537 shares of company stock valued at $91,938,722. Insiders own 26.55% of the company’s stock.

Institutional Trading of Warby Parker

Institutional investors have recently added to or reduced their stakes in the company. TimesSquare Capital Management LLC purchased a new position in shares of Warby Parker during the fourth quarter worth approximately $9,542,000. Vanguard Group Inc. increased its position in shares of Warby Parker by 7.7% during the fourth quarter. Vanguard Group Inc. now owns 8,457,986 shares of the company’s stock worth $119,258,000 after acquiring an additional 607,352 shares during the period. AIA Group Ltd increased its position in shares of Warby Parker by 49.8% during the fourth quarter. AIA Group Ltd now owns 164,861 shares of the company’s stock worth $2,325,000 after acquiring an additional 54,839 shares during the period. Invenomic Capital Management LP purchased a new position in shares of Warby Parker during the fourth quarter worth approximately $3,432,000. Finally, Jennison Associates LLC increased its holdings in Warby Parker by 17.2% during the first quarter. Jennison Associates LLC now owns 1,000,138 shares of the company’s stock valued at $13,612,000 after buying an additional 146,697 shares during the period. Institutional investors own 93.24% of the company’s stock.

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.