Warby Parker Inc. (NYSE:WRBY) Receives Consensus Rating of “Hold” from Brokerages

Shares of Warby Parker Inc. (NYSE:WRBY) have earned an average recommendation of “Hold” from the eight brokerages that are currently covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $16.29.

WRBY has been the topic of a number of recent research reports. Morgan Stanley boosted their target price on shares of Warby Parker from $12.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 24th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $19.00 price target on shares of Warby Parker in a report on Wednesday, February 28th.

Warby Parker Price Performance

NYSE WRBY opened at $11.88 on Friday. The company’s fifty day simple moving average is $13.09 and its 200-day simple moving average is $12.91. Warby Parker has a 52 week low of $9.83 and a 52 week high of $16.49.

Warby Parker (NYSE:WRBY) last posted its earnings results on Wednesday, February 28th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.04). Warby Parker had a negative return on equity of 16.36% and a negative net margin of 9.44%. The firm had revenue of $161.86 million for the quarter, compared to analyst estimates of $161.01 million. On average, equities research analysts expect that Warby Parker will post -0.17 earnings per share for the current year.

Insider Activity at Warby Parker

In other Warby Parker news, CFO Steven Clive Miller sold 8,708 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $11.88, for a total transaction of $103,451.04. Following the sale, the chief financial officer now directly owns 191,104 shares of the company’s stock, valued at $2,270,315.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Warby Parker news, CEO David Abraham Gilboa sold 28,311 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $11.88, for a total transaction of $336,334.68. Following the sale, the chief executive officer now directly owns 12,306 shares of the company’s stock, valued at $146,195.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Steven Clive Miller sold 8,708 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $11.88, for a total transaction of $103,451.04. Following the sale, the chief financial officer now directly owns 191,104 shares in the company, valued at $2,270,315.52. The disclosure for this sale can be found here. Insiders have sold 89,084 shares of company stock valued at $1,074,979 over the last ninety days. Corporate insiders own 26.91% of the company’s stock.

Hedge Funds Weigh In On Warby Parker

Several institutional investors have recently modified their holdings of the company. Envestnet Asset Management Inc. grew its position in shares of Warby Parker by 2.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 35,683 shares of the company’s stock worth $503,000 after acquiring an additional 789 shares during the last quarter. Panagora Asset Management Inc. grew its position in shares of Warby Parker by 0.4% during the fourth quarter. Panagora Asset Management Inc. now owns 198,671 shares of the company’s stock worth $2,801,000 after acquiring an additional 847 shares during the last quarter. Jacobson & Schmitt Advisors LLC grew its position in shares of Warby Parker by 0.3% during the third quarter. Jacobson & Schmitt Advisors LLC now owns 398,596 shares of the company’s stock worth $5,246,000 after acquiring an additional 1,120 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Warby Parker by 11.6% during the third quarter. Tower Research Capital LLC TRC now owns 11,493 shares of the company’s stock worth $154,000 after acquiring an additional 1,191 shares during the last quarter. Finally, Osaic Holdings Inc. grew its position in shares of Warby Parker by 16.5% during the second quarter. Osaic Holdings Inc. now owns 8,439 shares of the company’s stock worth $99,000 after acquiring an additional 1,197 shares during the last quarter. Institutional investors own 93.24% of the company’s stock.

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.