Warby Parker Inc. (NYSE:WRBY) Receives Average Recommendation of “Moderate Buy” from Analysts

Warby Parker Inc. (NYSE:WRBY) has been assigned an average rating of “Moderate Buy” from the ten brokerages that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $30.00.

WRBY has been the topic of several recent research reports. Weiss Ratings cut Warby Parker from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, September 25th. Bank of America initiated coverage on Warby Parker in a research report on Monday, June 29th. They issued a “buy” rating and a $33.00 price target for the company. BTIG Research restated a “buy” rating on shares of Warby Parker in a research note on Friday, August 14th. UBS Group upped their price objective on Warby Parker from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Warby Parker in a research report on Thursday, September 17th.

Insider Activity at Warby Parker

In other news, CEO Neil Blumenthal sold 100,000 shares of the firm’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $27.69, for a total value of $2,769,000.00. Following the sale, the chief executive officer directly owned 36,020 shares in the company, valued at approximately $997,393.80. This trade represents a 73.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 16.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Ranger Investment Management L.P. acquired a new position in shares of Warby Parker in the second quarter valued at about $30,949,000. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Warby Parker by 31.3% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 3,028,307 shares of the company’s stock worth $63,806,000 after purchasing an additional 722,627 shares during the period. Atreides Management LP acquired a new stake in shares of Warby Parker during the fourth quarter worth about $8,565,000. Senator Investment Group LP purchased a new stake in Warby Parker in the fourth quarter valued at approximately $8,218,000. Finally, Bank of America Corp DE boosted its position in Warby Parker by 30.9% in the first quarter. Bank of America Corp DE now owns 1,377,646 shares of the company’s stock valued at $29,027,000 after buying an additional 325,250 shares during the last quarter. Institutional investors own 93.24% of the company’s stock.

Warby Parker Stock Performance

Shares of WRBY opened at $26.57 on Tuesday. The company has a 50 day moving average price of $25.69 and a 200-day moving average price of $25.26. Warby Parker has a fifty-two week low of $14.96 and a fifty-two week high of $31.00. The stock has a market capitalization of $2.88 billion, a PE ratio of 379.57, a PEG ratio of 7.32 and a beta of 1.89.

Warby Parker (NYSE:WRBY) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.06). The business had revenue of $235.51 million for the quarter, compared to analysts’ expectations of $237.98 million. Warby Parker had a net margin of 0.85% and a return on equity of 3.36%. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.01) earnings per share. Equities research analysts forecast that Warby Parker will post 0.14 EPS for the current year.

About Warby Parker

Warby Parker Inc is an omnichannel eyewear company that designs, produces, and sells prescription eyeglasses, sunglasses, contact lenses, and related vision-care products. The company serves customers through its e-commerce platform, retail stores, and other direct-to-consumer channels, offering products under its Warby Parker brand.

Founded in 2010 by Neil Blumenthal, Dave Gilboa, Andrew Hunt, and Jeffrey Raider, Warby Parker began as an online eyewear retailer and later expanded its physical retail presence.