Warby Parker (NYSE:WRBY) Stock Rating Upgraded by Roth Capital

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

A number of other research analysts have also commented on WRBY. Telsey Advisory Group reiterated an “outperform” rating and set a $28.00 price objective on shares of Warby Parker in a research note on Thursday, February 20th. Morgan Stanley boosted their price objective on Warby Parker from $17.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. BTIG Research raised their target price on Warby Parker from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Evercore ISI reiterated an “in-line” rating and issued a $23.00 price target on shares of Warby Parker in a research report on Friday, January 17th. Finally, William Blair raised shares of Warby Parker from a “market perform” rating to an “outperform” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.21.

Warby Parker Trading Down 2.3 %

Warby Parker stock opened at $22.73 on Monday. Warby Parker has a 52 week low of $11.35 and a 52 week high of $28.68. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of -84.19 and a beta of 1.90. The company’s 50-day moving average price is $25.62 and its two-hundred day moving average price is $20.50.

Insider Activity

In other Warby Parker news, CEO Neil Harris Blumenthal sold 50,000 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $23.65, for a total transaction of $1,182,500.00. Following the completion of the sale, the chief executive officer now directly owns 12,177 shares in the company, valued at approximately $287,986.05. This trade represents a 80.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Steven Clive Miller sold 14,853 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were 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 in the company, valued at $4,276,591.06. This represents a 7.28 % 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 over the last 90 days. 26.55% of the stock is owned by company insiders.

Institutional Trading of Warby Parker

Several institutional investors have recently made changes to their positions in the stock. Global Retirement Partners LLC acquired a new position in Warby Parker in the 4th quarter valued at approximately $25,000. NewEdge Advisors LLC grew its holdings in shares of Warby Parker by 700.0% during the 4th quarter. NewEdge Advisors LLC now owns 1,200 shares of the company’s stock valued at $29,000 after acquiring an additional 1,050 shares in the last quarter. Jones Financial Companies Lllp increased its stake in shares of Warby Parker by 205.6% in the fourth quarter. Jones Financial Companies Lllp now owns 1,528 shares of the company’s stock worth $37,000 after acquiring an additional 1,028 shares during the last quarter. Comerica Bank raised its holdings in shares of Warby Parker by 153.1% during the fourth quarter. Comerica Bank now owns 2,291 shares of the company’s stock worth $55,000 after acquiring an additional 1,386 shares in the last quarter. Finally, Anderson Financial Strategies LLC acquired a new stake in Warby Parker during the fourth quarter valued at $69,000. 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.