Warby Parker’s (WRBY) “Outperform” Rating Reiterated at Telsey Advisory Group

Warby Parker (NYSE:WRBY)‘s stock had its “outperform” rating restated by analysts at Telsey Advisory Group in a research note issued on Thursday,Benzinga reports. They currently have a $28.00 target price on the stock. Telsey Advisory Group’s price objective would indicate a potential upside of 18.19% from the stock’s current price.

Several other research firms have also weighed in on WRBY. The Goldman Sachs Group lifted 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. Morgan Stanley lifted their price objective on Warby Parker from $17.00 to $23.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. William Blair upgraded Warby Parker from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 7th. Evercore ISI restated an “in-line” rating and set a $23.00 target price on shares of Warby Parker in a report on Friday, January 17th. Finally, BTIG Research lifted their price target on shares of Warby Parker from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.21.

Warby Parker Price Performance

Shares of NYSE:WRBY opened at $23.69 on Thursday. The firm’s 50 day simple moving average is $25.61 and its 200 day simple moving average is $20.52. Warby Parker has a fifty-two week low of $11.35 and a fifty-two week high of $28.68. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of -87.74 and a beta of 1.90.

Warby Parker (NYSE:WRBY) last posted its earnings results on Thursday, February 27th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.08). Warby Parker had a negative return on equity of 8.26% and a negative net margin of 4.39%. Equities research analysts expect that Warby Parker will post -0.12 earnings per share for the current year.

Insider Activity at Warby Parker

In related news, CEO Neil Harris Blumenthal sold 50,000 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $27.61, for a total transaction of $1,380,500.00. Following the completion of the transaction, the chief executive officer now directly owns 12,177 shares of the company’s stock, valued at approximately $336,206.97. This represents a 80.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Steven Clive Miller sold 7,016 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $23.85, for a total value of $167,331.60. Following the completion of the transaction, the chief financial officer now owns 182,130 shares of the company’s stock, valued at approximately $4,343,800.50. This represents a 3.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 608,032 shares of company stock valued at $15,188,364. Corporate insiders own 26.55% of the company’s stock.

Hedge Funds Weigh In On Warby Parker

A number of institutional investors have recently added to or reduced their stakes in WRBY. Castleark Management LLC bought a new position in shares of Warby Parker in the 4th quarter valued at about $4,294,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Warby Parker by 11.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 218,625 shares of the company’s stock valued at $5,293,000 after purchasing an additional 22,853 shares during the last quarter. Two Sigma Advisers LP grew its holdings in Warby Parker by 512.8% during the fourth quarter. Two Sigma Advisers LP now owns 124,400 shares of the company’s stock worth $3,012,000 after purchasing an additional 104,100 shares during the period. Two Sigma Investments LP increased its position in Warby Parker by 72.5% during the fourth quarter. Two Sigma Investments LP now owns 242,582 shares of the company’s stock worth $5,873,000 after buying an additional 101,986 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp raised its stake in Warby Parker by 107.4% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 22,400 shares of the company’s stock valued at $542,000 after buying an additional 11,600 shares during the period. 93.24% of the stock is currently owned by institutional investors and hedge funds.

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.