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

Warby Parker (NYSE:WRBY)‘s stock had its “outperform” rating restated by Telsey Advisory Group in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $19.00 price objective on the stock. Telsey Advisory Group’s price target would indicate a potential upside of 15.40% from the stock’s current price.

A number of other brokerages have also weighed in on WRBY. Morgan Stanley lifted their price objective on Warby Parker from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Friday, May 10th. UBS Group upped their price objective on shares of Warby Parker from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Friday, May 10th. Finally, Loop Capital lifted their target price 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. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $16.43.

Warby Parker Price Performance

Shares of NYSE WRBY opened at $16.47 on Thursday. The stock has a market capitalization of $1.63 billion, a P/E ratio of -35.03 and a beta of 1.82. Warby Parker has a one year low of $9.83 and a one year high of $17.95. The firm’s 50 day simple moving average is $16.33 and its two-hundred day simple moving average is $14.38.

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

Insider Activity at Warby Parker

In related news, major shareholder D1 Capital Partners L.P. sold 5,500,000 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $15.66, for a total transaction of $86,130,000.00. Following the completion of the sale, the insider now directly owns 9,444,023 shares in the company, valued at $147,893,400.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Warby Parker news, CFO Steven Clive Miller sold 15,709 shares of the 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 completion of the sale, 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 SEC, which is available at this link. Also, major shareholder D1 Capital Partners L.P. sold 5,500,000 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $15.66, for a total transaction of $86,130,000.00. Following the completion of the transaction, the insider now directly owns 9,444,023 shares in the company, valued at approximately $147,893,400.18. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,848,537 shares of company stock worth $91,938,722. 26.55% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in WRBY. Vanguard Group Inc. grew its stake in shares of Warby Parker by 2.9% in the 3rd quarter. Vanguard Group Inc. now owns 7,850,634 shares of the company’s stock worth $103,314,000 after buying an additional 219,160 shares in the last quarter. Equitable Trust Co. lifted its stake in shares of Warby Parker by 6.6% in the 4th quarter. Equitable Trust Co. now owns 21,306 shares of the company’s stock valued at $300,000 after purchasing an additional 1,324 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in shares of Warby Parker by 6.3% in the 4th quarter. Baillie Gifford & Co. now owns 6,430,452 shares of the company’s stock worth $90,669,000 after purchasing an additional 378,781 shares during the period. Strs Ohio bought a new position in shares of Warby Parker during the 4th quarter valued at approximately $40,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Warby Parker by 12.7% during the 4th 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. Hedge funds and other 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.