Shares of Warby Parker Inc. (NYSE:WRBY – Get Rating) have received a consensus rating of "Moderate Buy" from the eleven ratings firms that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $24.64.
Several analysts recently issued reports on the stock. Telsey Advisory Group cut their price target on shares of Warby Parker from $30.00 to $25.00 and set an "outperform" rating on the stock in a report on Friday, August 12th. Piper Sandler assumed coverage on shares of Warby Parker in a report on Friday, July 22nd. They issued an "overweight" rating and a $20.00 price target on the stock. Loop Capital cut their price target on shares of Warby Parker from $18.00 to $15.00 and set a "hold" rating on the stock in a report on Monday, June 27th. Stifel Nicolaus cut their price target on shares of Warby Parker from $15.00 to $11.00 in a report on Wednesday, July 20th. Finally, The Goldman Sachs Group lowered their target price on shares of Warby Parker from $16.00 to $12.00 and set a "neutral" rating for the company in a research note on Thursday, July 21st.
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Warby Parker Stock Up 0.2 %
WRBY opened at $14.34 on Thursday. Warby Parker has a 52-week low of $10.86 and a 52-week high of $60.30. The company has a 50 day moving average of $13.27 and a two-hundred day moving average of $19.09. The company has a market cap of $1.37 billion and a P/E ratio of -5.88.
Warby Parker (NYSE:WRBY – Get Rating) last posted its earnings results on Thursday, August 11th. The company reported ($0.20) EPS for the quarter, hitting analysts' consensus estimates of ($0.20). Warby Parker had a negative net
margin of 35.47% and a negative return on equity of 44.81%. The business had revenue of $149.62 million for the quarter, compared to analysts' expectations of $148.78 million. Research analysts anticipate that Warby Parker will post -0.61 earnings per share for the current year.
Insider Activity
In other news, CFO Steven Clive Miller sold 4,957 shares of the firm's stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $15.10, for a total transaction of $74,850.70. Following the completion of the transaction, the chief financial officer now owns 165,547 shares in the company, valued at approximately $2,499,759.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Steven Clive Miller sold 4,957 shares of the firm's stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $15.10, for a total transaction of $74,850.70. Following the completion of the transaction, the chief financial officer now owns 165,547 shares in the company, valued at approximately $2,499,759.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Neil Harris Blumenthal sold 5,099 shares of the firm's stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $15.10, for a total transaction of $76,994.90. Following the completion of the transaction, the chief executive officer now owns 106 shares of the company's stock, valued at $1,600.60. The disclosure for this sale can be found here. Insiders own 25.36% of the company's stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Brown Advisory Inc. boosted its holdings in shares of Warby Parker by 4.5% during the second quarter. Brown Advisory Inc. now owns 54,156 shares of the company's stock worth $610,000 after purchasing an additional 2,353 shares during the period. Verition Fund Management LLC acquired a new stake in shares of Warby Parker during the second quarter worth approximately $1,632,000. Legal & General Group Plc acquired a new stake in shares of Warby Parker during the second quarter worth approximately $298,000. Chilton Investment Co. Inc. acquired a new stake in shares of Warby Parker during the second quarter worth approximately $205,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Warby Parker by 6.8% during the second quarter. Price T Rowe Associates Inc. MD now owns 21,314,924 shares of the company's stock worth $240,006,000 after purchasing an additional 1,365,543 shares during the period.
About Warby Parker
(Get Rating)
Warby Parker Inc provides eyewear products. It offers eyeglasses, sunglasses, light-responsive lenses, blue-light-filtering lenses, and contact lenses, as well as accessories, including cases, lenses kit with anti-fog spray, pouches, and anti-fog lens spray. The company also offers eye exams and vision tests directly to consumers through its retail stores, website, and mobile apps.
Further Reading
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