Roth Capital Upgrades Warby Parker (NYSE:WRBY) to Strong-Buy

Warby Parker (NYSE:WRBY) was upgraded by Roth Capital to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

A number of other analysts have also recently weighed in on WRBY. Morgan Stanley boosted their price target on Warby Parker from $17.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. The Goldman Sachs Group boosted their target price on Warby Parker from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. BTIG Research increased their price target on Warby Parker from $18.00 to $20.00 and gave the company a “buy” rating in a report on Friday, November 1st. Roth Mkm assumed coverage on shares of Warby Parker in a research report on Tuesday. They issued a “neutral” rating and a $26.00 price target on the stock. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $28.00 price objective on shares of Warby Parker in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Warby Parker currently has a consensus rating of “Moderate Buy” and an average price target of $22.21.

Warby Parker Trading Down 2.3 %

WRBY stock opened at $22.73 on Monday. The firm has a market cap of $2.31 billion, a PE ratio of -84.19 and a beta of 1.90. Warby Parker has a 1 year low of $11.35 and a 1 year high of $28.68. The company has a fifty day simple moving average of $25.62 and a 200 day simple moving average of $20.50.

Insiders Place Their Bets

In other Warby Parker news, CFO Steven Clive Miller sold 14,853 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $22.61, for a total value of $335,826.33. Following the completion of the transaction, the chief financial officer now owns 189,146 shares of the company’s stock, valued at $4,276,591.06. This represents a 7.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Neil Harris Blumenthal sold 36,163 shares of Warby Parker stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $22.61, for a total value of $817,645.43. Following the sale, the chief executive officer now directly owns 12,177 shares in the company, valued at $275,321.97. The trade was a 74.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 608,032 shares of company stock worth $15,188,364 in the last ninety days. Insiders own 26.55% of the company’s stock.

Institutional Investors Weigh In On Warby Parker

Several institutional investors and hedge funds have recently bought and sold shares of the business. Arizona State Retirement System lifted its holdings in shares of Warby Parker by 2.6% during the 4th quarter. Arizona State Retirement System now owns 24,881 shares of the company’s stock worth $602,000 after acquiring an additional 619 shares during the period. Mariner LLC raised its position in Warby Parker by 6.5% in the fourth quarter. Mariner LLC now owns 10,772 shares of the company’s stock worth $261,000 after purchasing an additional 660 shares in the last quarter. Summit Investment Advisors Inc. lifted its stake in Warby Parker by 10.0% during the fourth quarter. Summit Investment Advisors Inc. now owns 9,265 shares of the company’s stock worth $224,000 after purchasing an additional 840 shares during the period. Global Retirement Partners LLC acquired a new stake in Warby Parker during the fourth quarter valued at approximately $25,000. Finally, Jones Financial Companies Lllp grew its stake in shares of Warby Parker by 205.6% in the 4th quarter. Jones Financial Companies Lllp now owns 1,528 shares of the company’s stock valued at $37,000 after purchasing an additional 1,028 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.