Warby Parker Inc. (NYSE:WRBY) Given Average Rating of “Moderate Buy” by Brokerages

Warby Parker Inc. (NYSE:WRBY) has earned an average rating of “Moderate Buy” from the nine research firms that are currently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $17.11.

WRBY has been the subject of a number of research reports. JMP Securities upgraded shares of Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 price objective for the company in a report on Friday, August 23rd. Telsey Advisory Group reissued an “outperform” rating and set a $19.00 target price on shares of Warby Parker in a research report on Thursday, August 8th. Loop Capital increased their target price on shares of Warby Parker from $15.00 to $16.00 and gave the company a “hold” rating in a research report on Wednesday, July 10th. Stifel Nicolaus increased their target price on shares of Warby Parker from $14.00 to $15.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Finally, Piper Sandler began coverage on shares of Warby Parker in a research report on Friday, August 23rd. They set an “overweight” rating and a $18.00 target price for the company.

Warby Parker Stock Down 3.2 %

WRBY opened at $13.10 on Monday. Warby Parker has a twelve month low of $9.83 and a twelve month high of $17.95. The company has a 50-day simple moving average of $15.14 and a 200 day simple moving average of $14.53. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of -27.87 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, topping analysts’ consensus estimates of ($0.04) by $0.01. The firm had revenue of $188.22 million during the quarter, compared to analysts’ expectations of $186.89 million. Warby Parker had a negative net margin of 6.38% and a negative return on equity of 11.09%. Sell-side analysts anticipate that Warby Parker will post -0.04 EPS for the current fiscal year.

Insider Activity at Warby Parker

In related news, Director Teresa Briggs sold 7,396 shares of Warby Parker stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $16.31, for a total value of $120,628.76. Following the completion of the sale, the director now owns 38,859 shares of the company’s stock, valued at approximately $633,790.29. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Warby Parker news, CFO Steven Clive Miller sold 99,816 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $16.61, for a total transaction of $1,657,943.76. Following the transaction, the chief financial officer now directly owns 173,012 shares in the company, valued at approximately $2,873,729.32. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Teresa Briggs sold 7,396 shares of Warby Parker stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $16.31, for a total value of $120,628.76. Following the sale, the director now owns 38,859 shares in the company, valued at $633,790.29. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,607,212 shares of company stock valued at $87,908,573. 26.55% of the stock is owned by company insiders.

Institutional Investors Weigh In On Warby Parker

A number of hedge funds have recently made changes to their positions in WRBY. Vaughan Nelson Investment Management L.P. increased its holdings in Warby Parker by 113.3% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 2,477,410 shares of the company’s stock worth $39,787,000 after acquiring an additional 1,315,672 shares during the last quarter. Marshall Wace LLP grew its holdings in Warby Parker by 1,013.4% during the 2nd quarter. Marshall Wace LLP now owns 1,422,940 shares of the company’s stock valued at $22,852,000 after buying an additional 1,295,136 shares in the last quarter. TimesSquare Capital Management LLC grew its holdings in Warby Parker by 149.4% during the 1st quarter. TimesSquare Capital Management LLC now owns 1,687,750 shares of the company’s stock valued at $22,970,000 after buying an additional 1,011,030 shares in the last quarter. Vanguard Group Inc. grew its holdings in Warby Parker by 7.7% during the 4th quarter. Vanguard Group Inc. now owns 8,457,986 shares of the company’s stock valued at $119,258,000 after buying an additional 607,352 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Warby Parker by 44.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,568,600 shares of the company’s stock valued at $25,192,000 after buying an additional 481,900 shares in the last quarter. 93.24% of the stock is currently owned by institutional investors.

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.