Warby Parker (NYSE:WRBY) Upgraded to “Outperform” at William Blair

Warby Parker (NYSE:WRBY) was upgraded by analysts at William Blair from a “market perform” rating to an “outperform” rating in a note issued to investors on Thursday, Marketbeat.com reports.

WRBY has been the topic of a number of other research reports. The Goldman Sachs Group upgraded Warby Parker from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $15.00 to $18.00 in a research report on Monday, October 21st. BTIG Research boosted their price target on Warby Parker from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Stifel Nicolaus boosted their price target on Warby Parker from $14.00 to $15.00 and gave the company a “hold” rating in a research report on Friday, August 9th. JMP Securities upgraded Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 price target on the stock in a research report on Friday, August 23rd. Finally, Deutsche Bank Aktiengesellschaft upgraded Warby Parker from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $15.00 to $18.00 in a research report on Monday, October 21st. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.30.

Warby Parker Stock Up 0.5 %

Warby Parker stock traded up $0.09 during midday trading on Thursday, reaching $19.06. The company’s stock had a trading volume of 1,726,881 shares, compared to its average volume of 1,405,751. Warby Parker has a fifty-two week low of $9.83 and a fifty-two week high of $19.60. The company has a market cap of $1.92 billion, a P/E ratio of -49.13 and a beta of 1.80. The business has a 50-day simple moving average of $15.74 and a 200-day simple moving average of $15.48.

Warby Parker (NYSE:WRBY) last posted its earnings results on Thursday, August 8th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $186.89 million. As a group, equities analysts forecast that Warby Parker will post -0.04 earnings per share for the current year.

Insider Activity at Warby Parker

In other Warby Parker news, CFO Steven Clive Miller sold 6,763 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $13.90, for a total value of $94,005.70. Following the completion of the transaction, the chief financial officer now directly owns 177,488 shares in the company, valued at approximately $2,467,083.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Neil Harris Blumenthal sold 50,000 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $13.89, for a total transaction of $694,500.00. Following the completion of the sale, the chief executive officer now directly owns 12,177 shares in the company, valued at $169,138.53. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Steven Clive Miller sold 6,763 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $13.90, for a total value of $94,005.70. Following the sale, the chief financial officer now owns 177,488 shares of the company’s stock, valued at approximately $2,467,083.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 99,178 shares of company stock valued at $1,339,901. 26.55% of the stock is owned by corporate insiders.

Institutional Trading of Warby Parker

A number of institutional investors and hedge funds have recently made changes to their positions in WRBY. Vaughan Nelson Investment Management L.P. increased its holdings in 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 valued at $39,787,000 after purchasing an additional 1,315,672 shares in the last quarter. Marshall Wace LLP increased its holdings in Warby Parker by 1,013.4% in the 2nd quarter. Marshall Wace LLP now owns 1,422,940 shares of the company’s stock valued at $22,852,000 after purchasing an additional 1,295,136 shares in the last quarter. TimesSquare Capital Management LLC increased its holdings in Warby Parker by 149.4% in the 1st quarter. TimesSquare Capital Management LLC now owns 1,687,750 shares of the company’s stock valued at $22,970,000 after purchasing an additional 1,011,030 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Warby Parker by 44.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,568,600 shares of the company’s stock valued at $25,192,000 after purchasing an additional 481,900 shares in the last quarter. Finally, Zweig DiMenna Associates LLC acquired a new stake in Warby Parker in the 2nd quarter valued at $5,183,000. 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.