Analysts Set Warby Parker Inc. (NYSE:WRBY) Price Target at $16.50

Warby Parker Inc. (NYSE:WRBY) has been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $16.50.

A number of research firms recently issued reports on WRBY. UBS Group raised their target price on shares of Warby Parker from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Friday, May 10th. Morgan Stanley increased their price target on shares of Warby Parker from $13.00 to $14.00 and gave the company an “equal weight” rating in a report on Friday, May 10th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $19.00 price target on shares of Warby Parker in a report on Thursday, May 9th.

Warby Parker Stock Up 1.0 %

Shares of WRBY opened at $16.03 on Wednesday. The company’s fifty day moving average is $15.49 and its 200-day moving average is $14.05. Warby Parker has a 12 month low of $9.83 and a 12 month high of $17.95. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of -34.11 and a beta of 1.82.

Warby Parker (NYSE:WRBY) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.02) by $0.01. Warby Parker had a negative net margin of 7.89% and a negative return on equity of 13.19%. The company had revenue of $200.00 million for the quarter, compared to analyst estimates of $196.25 million. As a group, research analysts predict that Warby Parker will post -0.09 earnings per share for the current fiscal year.

Insider Activity at Warby Parker

In related news, CFO Steven Clive Miller sold 15,709 shares of Warby Parker stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $17.04, for a total transaction of $267,681.36. Following the completion of the transaction, the chief financial officer now directly owns 166,879 shares of the company’s stock, valued at approximately $2,843,618.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Steven Clive Miller sold 15,709 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $17.04, for a total transaction of $267,681.36. Following the transaction, the chief financial officer now directly owns 166,879 shares in the company, valued at $2,843,618.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Neil Harris Blumenthal sold 76,582 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $16.65, for a total transaction of $1,275,090.30. Following the transaction, the chief executive officer now owns 12,177 shares in the company, valued at $202,747.05. The disclosure for this sale can be found here. Insiders sold 5,848,537 shares of company stock valued at $91,938,722 in the last ninety days. Insiders own 26.55% of the company’s stock.

Institutional Investors Weigh In On Warby Parker

A number of institutional investors and hedge funds have recently modified their holdings of WRBY. Panagora Asset Management Inc. increased its stake in Warby Parker by 0.4% in the fourth quarter. Panagora Asset Management Inc. now owns 198,671 shares of the company’s stock valued at $2,801,000 after purchasing an additional 847 shares in the last quarter. Equitable Trust Co. boosted its holdings in shares of Warby Parker by 6.6% in the fourth quarter. Equitable Trust Co. now owns 21,306 shares of the company’s stock valued at $300,000 after buying an additional 1,324 shares during the period. Jacobson & Schmitt Advisors LLC boosted its holdings in shares of Warby Parker by 0.3% in the first quarter. Jacobson & Schmitt Advisors LLC now owns 408,105 shares of the company’s stock valued at $5,554,000 after buying an additional 1,397 shares during the period. ProShare Advisors LLC boosted its holdings in shares of Warby Parker by 10.2% in the first quarter. ProShare Advisors LLC now owns 15,470 shares of the company’s stock valued at $211,000 after buying an additional 1,434 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Warby Parker by 12.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,520 shares of the company’s stock valued at $247,000 after buying an additional 1,974 shares during the period. 93.24% of the stock is owned by institutional investors.

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.