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

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

Other analysts also recently issued reports about the stock. Roth Capital raised shares of Warby Parker to a “strong-buy” rating in a report on Monday. Morgan Stanley upped their price target on shares of Warby Parker from $17.00 to $23.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. JMP Securities lifted their price objective on Warby Parker from $23.00 to $28.00 and gave the stock a “market outperform” rating in a report on Monday, December 16th. BTIG Research upped 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. Finally, Stifel Nicolaus raised their target price on Warby Parker from $17.00 to $20.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $22.21.

Warby Parker Trading Up 4.1 %

Shares of NYSE:WRBY opened at $23.69 on Thursday. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of -87.74 and a beta of 1.90. Warby Parker has a 1 year low of $11.35 and a 1 year high of $28.68. The business has a fifty day simple moving average of $25.61 and a 200 day simple moving average of $20.52.

Warby Parker (NYSE:WRBY) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates 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%. On average, sell-side analysts forecast that Warby Parker will post -0.12 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Neil Harris Blumenthal sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $27.61, for a total transaction of $1,380,500.00. Following the transaction, the chief executive officer now directly owns 12,177 shares in the company, 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 Securities & Exchange Commission, which is accessible through this link. Also, CFO Steven Clive Miller sold 14,853 shares of the stock in a transaction on 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. The trade was a 7.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 608,032 shares of company stock valued at $15,188,364. 26.55% of the stock is currently owned by corporate insiders.

Institutional Trading of Warby Parker

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WRBY. Arizona State Retirement System boosted its stake in shares of Warby Parker by 2.6% in the 4th quarter. Arizona State Retirement System now owns 24,881 shares of the company’s stock valued at $602,000 after purchasing an additional 619 shares during the last quarter. Mariner LLC boosted its stake in Warby Parker by 6.5% in the fourth quarter. Mariner LLC now owns 10,772 shares of the company’s stock valued at $261,000 after acquiring an additional 660 shares during the last quarter. Summit Investment Advisors Inc. boosted its stake in Warby Parker by 10.0% in the fourth quarter. Summit Investment Advisors Inc. now owns 9,265 shares of the company’s stock valued at $224,000 after acquiring an additional 840 shares during the last quarter. Global Retirement Partners LLC acquired a new stake in Warby Parker during the 4th quarter worth $25,000. Finally, Jones Financial Companies Lllp raised its position in shares of Warby Parker by 205.6% during the 4th quarter. Jones Financial Companies Lllp now owns 1,528 shares of the company’s stock valued at $37,000 after acquiring an additional 1,028 shares during the last quarter. 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.