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

Warby Parker (NYSE:WRBY)‘s stock had its “outperform” rating reiterated by equities research analysts at Telsey Advisory Group in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $19.00 price target on the stock. Telsey Advisory Group’s target price indicates a potential upside of 0.18% from the stock’s current price.

A number of other brokerages have also recently commented on WRBY. JMP Securities raised shares of Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 price objective for the company in a research note on Friday, August 23rd. Stifel Nicolaus lifted their price objective 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. Deutsche Bank Aktiengesellschaft raised shares of Warby Parker from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $15.00 to $18.00 in a research note on Monday, October 21st. Loop Capital lifted their price objective on shares of Warby Parker from $15.00 to $16.00 and gave the stock a “hold” rating in a research note on Wednesday, July 10th. Finally, The Goldman Sachs Group raised shares of Warby Parker from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $15.00 to $18.00 in a research note on Monday, October 21st. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $17.30.

Warby Parker Stock Performance

WRBY opened at $18.97 on Thursday. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of -48.63 and a beta of 1.80. The company has a fifty day moving average of $15.74 and a 200 day moving average of $15.48. Warby Parker has a fifty-two week low of $9.83 and a fifty-two week high of $19.60.

Warby Parker (NYSE:WRBY) last posted its earnings results on Thursday, August 8th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.01. The company had revenue of $188.22 million during the quarter, compared to analysts’ expectations of $186.89 million. Warby Parker had a negative net margin of 6.38% and a negative return on equity of 11.09%. On average, equities research analysts forecast that Warby Parker will post -0.04 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Steven Clive Miller sold 6,763 shares of Warby Parker stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $13.90, for a total transaction of $94,005.70. Following the completion of the sale, the chief financial officer now owns 177,488 shares in the company, valued at $2,467,083.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Neil Harris Blumenthal sold 50,000 shares of Warby Parker stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $13.89, for a total transaction of $694,500.00. Following the completion of the sale, the chief executive officer now owns 12,177 shares in the company, valued at $169,138.53. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Steven Clive Miller sold 6,763 shares of Warby Parker stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $13.90, for a total transaction of $94,005.70. Following the sale, the chief financial officer now owns 177,488 shares of the company’s stock, valued at $2,467,083.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 99,178 shares of company stock valued at $1,339,901. Company insiders own 26.55% of the company’s stock.

Institutional Investors Weigh In On Warby Parker

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. lifted its holdings in Warby Parker by 79.9% during the 1st quarter. Advisors Asset Management Inc. now owns 5,125 shares of the company’s stock valued at $70,000 after buying an additional 2,276 shares in the last quarter. First Eagle Investment Management LLC purchased a new stake in shares of Warby Parker in the 2nd quarter worth approximately $131,000. Sciencast Management LP purchased a new stake in shares of Warby Parker in the 1st quarter worth approximately $145,000. Choreo LLC purchased a new stake in shares of Warby Parker in the 2nd quarter worth approximately $167,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Warby Parker in the 1st quarter worth approximately $176,000. 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.