Warby Parker (NYSE:WRBY) Receives Outperform Rating from Telsey Advisory Group

Telsey Advisory Group restated their outperform rating on shares of Warby Parker (NYSE:WRBY) in a research report sent to investors on Thursday morning, Benzinga reports. Telsey Advisory Group currently has a $19.00 price objective on the stock.

A number of other analysts have also recently weighed in on the stock. Stifel Nicolaus raised their price objective on shares of Warby Parker from $14.00 to $15.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft raised Warby Parker from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $15.00 to $18.00 in a report on Monday, October 21st. The Goldman Sachs Group upgraded Warby Parker from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $15.00 to $18.00 in a research note on Monday, October 21st. Piper Sandler started coverage on shares of Warby Parker in a research note on Friday, August 23rd. They set an “overweight” rating and a $18.00 target price for the company. Finally, JMP Securities raised Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 target price on the stock in a report on Friday, August 23rd. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.00.

Warby Parker Stock Up 2.7 %

NYSE:WRBY traded up $0.46 on Thursday, hitting $17.39. The stock had a trading volume of 116,768 shares, compared to its average volume of 1,384,457. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of -44.18 and a beta of 1.82. Warby Parker has a 1-year low of $9.83 and a 1-year high of $18.37. The company has a fifty day moving average price of $15.47 and a two-hundred day moving average price of $15.28.

Warby Parker (NYSE:WRBY) last released its quarterly 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. Warby Parker had a negative return on equity of 11.09% and a negative net margin of 6.38%. The business had revenue of $188.22 million during the quarter, compared to analyst estimates of $186.89 million. As a group, analysts anticipate that Warby Parker will post -0.04 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Bradley E. Singer acquired 50,000 shares of the stock in a transaction on Tuesday, August 13th. The stock was bought at an average price of $13.00 per share, with a total value of $650,000.00. Following the completion of the transaction, the director now directly owns 100,000 shares of the company’s stock, valued at $1,300,000. The trade was a 100.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Warby Parker news, CFO Steven Clive Miller sold 15,272 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $13.00, for a total transaction of $198,536.00. Following the completion of the transaction, the chief financial officer now directly owns 184,251 shares of the company’s stock, valued at $2,395,263. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bradley E. Singer bought 50,000 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was bought at an average price of $13.00 per share, for a total transaction of $650,000.00. Following the purchase, the director now owns 100,000 shares in the company, valued at approximately $1,300,000. This represents a 100.00 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders sold 99,178 shares of company stock valued at $1,339,901. Company insiders own 26.55% of the company’s stock.

Institutional Trading of Warby Parker

Several institutional investors have recently added to or reduced their stakes in WRBY. AIA Group Ltd grew its holdings in shares of Warby Parker by 12.2% during the third quarter. AIA Group Ltd now owns 182,573 shares of the company’s stock valued at $2,981,000 after purchasing an additional 19,923 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in Warby Parker by 3.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 47,908 shares of the company’s stock worth $782,000 after buying an additional 1,556 shares during the last quarter. Zweig DiMenna Associates LLC lifted its stake in Warby Parker by 57.2% in the third quarter. Zweig DiMenna Associates LLC now owns 507,450 shares of the company’s stock valued at $8,287,000 after buying an additional 184,700 shares during the last quarter. Prentiss Smith & Co. Inc. acquired a new position in shares of Warby Parker during the third quarter valued at $1,112,000. Finally, LVW Advisors LLC grew its position in shares of Warby Parker by 27.9% during the third quarter. LVW Advisors LLC now owns 16,027 shares of the company’s stock worth $262,000 after acquiring an additional 3,500 shares during the last quarter. 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.