Warby Parker (NYSE:WRBY) Upgraded at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft upgraded shares of Warby Parker (NYSE:WRBY) from a neutral rating to a buy rating in a report issued on Monday morning, Benzinga reports. They currently have $18.00 price objective on the stock, up from their previous price objective of $15.00.

A number of other equities research analysts have also recently commented on the stock. Loop Capital lifted 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. JMP Securities upgraded Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 target price on the stock in a research note on Friday, August 23rd. Stifel Nicolaus increased their price target on Warby Parker from $14.00 to $15.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Piper Sandler initiated coverage on Warby Parker in a research note on Friday, August 23rd. They issued an “overweight” rating and a $18.00 price objective on the stock. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $19.00 price objective on shares of Warby Parker in a report on Thursday, August 8th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $17.00.

Warby Parker Price Performance

WRBY opened at $17.43 on Monday. Warby Parker has a 1 year low of $9.83 and a 1 year high of $18.37. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of -37.09 and a beta of 1.82. The firm’s fifty day moving average price is $15.16 and its two-hundred day moving average price is $15.16.

Warby Parker (NYSE:WRBY) last posted its earnings results on Thursday, August 8th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.01. The firm had revenue of $188.22 million for 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%. As a group, equities analysts anticipate that Warby Parker will post -0.04 EPS for the current year.

Insiders Place Their Bets

In other Warby Parker news, CFO Steven Clive Miller sold 6,763 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $13.90, for a total transaction of $94,005.70. Following the completion of the sale, the chief financial officer now directly owns 177,488 shares in the company, valued at $2,467,083.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Warby Parker news, CFO Steven Clive Miller sold 6,763 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $13.90, for a total transaction of $94,005.70. Following the completion of the sale, the chief financial officer now owns 177,488 shares of the company’s stock, valued at $2,467,083.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Bradley E. Singer bought 50,000 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were purchased 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 owns 100,000 shares of the company’s stock, valued at $1,300,000. This trade represents a 100.00 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 99,178 shares of company stock valued at $1,339,901. 26.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Warby Parker

Several hedge funds have recently made changes to their positions in WRBY. SG Americas Securities LLC grew its stake in shares of Warby Parker by 610.3% in the 2nd quarter. SG Americas Securities LLC now owns 91,598 shares of the company’s stock worth $1,471,000 after buying an additional 78,702 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Warby Parker by 302.0% during the first quarter. Janney Montgomery Scott LLC now owns 48,245 shares of the company’s stock valued at $657,000 after acquiring an additional 36,245 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its position in shares of 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 purchasing an additional 1,315,672 shares during the last quarter. Vanguard Group Inc. boosted its stake in Warby Parker by 7.7% in the 4th quarter. Vanguard Group Inc. now owns 8,457,986 shares of the company’s stock worth $119,258,000 after purchasing an additional 607,352 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position in Warby Parker by 37.1% during the 1st quarter. Russell Investments Group Ltd. now owns 225,338 shares of the company’s stock valued at $3,067,000 after purchasing an additional 61,004 shares during the last quarter. 93.24% of the stock is currently owned by institutional investors.

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.