Warby Parker Inc. (NYSE: WRBY) Receives Medium “Holding” Rating from Analysts

Shares of Warby Parker Inc. (NYSE: WRBY – Get Rating) received a consensus rating of “moderate buy” from the eleven ratings companies that currently cover the company, MarketBeat.com reports. Two investment analysts rated the stock with a hold recommendation and three gave the company a buy recommendation. The 1-year average price target among brokerages that have issued ratings on the stock in the past year is $24.64.

Several analysts have recently released reports on the stock. Telsey Advisory Group cut its price target on Warby Parker shares from $30.00 to $25.00 and set an “outperform” rating on the stock in a Friday, August 12 report. Piper Sandler assumed coverage of Warby Parker shares in a Friday, July 22 report. They issued an “overweight” rating and a price target of $20.00 on the stock. Loop Capital lowered its price target on Warby Parker shares from $18.00 to $15.00 and set a “hold” rating on the stock in a Monday, June 27 report. Stifel Nicolaus cut his price target on Warby Parker shares from $15.00 to $11.00 in a Wednesday, July 20 report. Finally, Goldman Sachs Group lowered its price target on Warby Parker shares from $16.00 to $12.00 and set a “neutral” rating for the company in a Thursday, July 21 research note.

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 capitalization of $1.37 billion and a P/E ratio of -5.88.

Warby Parker (NYSE:WRBY – Get Rating) last released its results on Thursday, August 11. The company reported ($0.20) EPS for the quarter, meeting analyst 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 company posted revenue of $149.62 million for the quarter, compared to $148.78 million expected by analysts. Research analysts expect Warby Parker to post -0.61 earnings per share for the current year.

Insider activity

Separately, Chief Financial Officer Steven Clive Miller sold 4,957 shares of the company in a trade dated Friday, September 9. 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 CFO now owns 165,547 shares of the company, valued at approximately $2,499,759.70. The transaction was disclosed in a legal filing with the SEC, accessible via the SEC’s website. Separately, CFO Steven Clive Miller sold 4,957 shares of the company in a trade dated Friday, September 9. 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 CFO now owns 165,547 shares of the company, valued at approximately $2,499,759.70. The transaction was disclosed in a legal filing with the SEC, accessible via the SEC’s website. Additionally, CEO Neil Harris Blumenthal sold 5,099 shares of the company in a trade dated Friday, September 9. The stock was sold at an average price of $15.10, for a total transaction of $76,994.90. Following completion of the transaction, the CEO now owns 106 shares of the company, valued at $1,600.60. The disclosure of this sale can be found here. Insiders hold 25.36% of the shares of the company.

Institutional entries and exits

Several hedge funds and other institutional investors have recently changed their positions in the company. Brown Advisory Inc. increased its holdings of Warby Parker shares by 4.5% during the second quarter. Brown Advisory Inc. now owns 54,156 shares of the company 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 equity stake in Warby Parker during the second quarter worth approximately $298,000. Chilton Investment Co. Inc. acquired a new equity stake in Warby Parker during the second quarter worth approximately $205,000. Finally, Price T Rowe Associates Inc. ® increased its equity stake in Warby Parker by 6.8% during the second quarter. Price T Rowe Associates Inc. MD now owns 21,314,924 shares of the company worth $240,006,000 after purchasing an additional 1,365,543 shares during the period.

About Warby Parker

(Get a rating)

Warby Parker Inc provides eyewear products. It offers eyeglasses, sunglasses, light sensitive lenses, blue light filtering lenses and contact lenses, as well as accessories including cases, a lens kit with anti-fog spray, pouches and anti-fog lens spray. The company also offers eye exams and vision testing directly to consumers through its retail stores, website and mobile apps.

Further reading

Analyst Recommendations for Warby Parker (NYSE: WRBY)

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