Warby Parker’s (WRBY) Outperform Rating Reiterated at Telsey Advisory Group

Telsey Advisory Group reissued their outperform rating on shares of Warby Parker (NYSE:WRBY) in a report released on Thursday morning, Benzinga reports. The brokerage currently has a $19.00 price objective on the stock.

Several other equities analysts have also recently commented on the stock. Loop Capital boosted their price objective on shares of Warby Parker from $15.00 to $16.00 and gave the company a “hold” rating in a research note on Wednesday, July 10th. The Goldman Sachs Group 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. Piper Sandler started coverage on Warby Parker in a report on Friday, August 23rd. They set an “overweight” rating and a $18.00 price objective for the company. Stifel Nicolaus boosted their price target on shares of Warby Parker from $14.00 to $15.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Warby Parker from a “neutral” rating to a “buy” rating and upped 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 six have issued a buy rating to the company’s stock. According to MarketBeat.com, Warby Parker currently has an average rating of “Moderate Buy” and an average target price of $17.30.

Warby Parker Stock Up 3.1 %

NYSE WRBY opened at $17.45 on Thursday. The firm has a market cap of $1.76 billion, a P/E ratio of -44.74 and a beta of 1.80. The company’s 50 day moving average is $15.57 and its 200-day moving average is $15.32. Warby Parker has a 12-month low of $9.83 and a 12-month high of $18.37.

Warby Parker (NYSE:WRBY) last posted its earnings results on Thursday, August 8th. The company reported ($0.03) earnings per share (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 firm had revenue of $188.22 million for the quarter, compared to the consensus estimate of $186.89 million. Equities analysts expect that Warby Parker will post -0.04 EPS for the current year.

Insider Activity at Warby Parker

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 value of $198,536.00. Following the sale, the chief financial officer now 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. In other Warby Parker news, CFO Steven Clive Miller sold 15,272 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $13.00, for a total value of $198,536.00. Following the completion of the sale, the chief financial officer now owns 184,251 shares in the company, valued at approximately $2,395,263. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Neil Harris Blumenthal sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $13.89, for a total value of $694,500.00. Following the transaction, the chief executive officer now directly owns 12,177 shares in the company, valued at $169,138.53. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 99,178 shares of company stock worth $1,339,901 in the last three months. 26.55% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in WRBY. Advisors Asset Management Inc. raised its holdings in Warby Parker by 79.9% in the first quarter. Advisors Asset Management Inc. now owns 5,125 shares of the company’s stock worth $70,000 after purchasing an additional 2,276 shares in the last quarter. First Eagle Investment Management LLC purchased a new position in Warby Parker during the 2nd quarter valued at about $131,000. Sciencast Management LP bought a new stake in Warby Parker during the first quarter worth about $145,000. Principal Financial Group Inc. purchased a new stake in Warby Parker in the first quarter worth about $158,000. Finally, Choreo LLC purchased a new position in shares of Warby Parker during the second quarter valued at approximately $167,000. 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.