Warby Parker Inc. (NYSE:WRBY) Given Average Rating of “Moderate Buy” by Analysts

Shares of Warby Parker Inc. (NYSE:WRBY) have received a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $30.1818.

A number of equities analysts recently issued reports on WRBY shares. Citizens Jmp dropped their target price on shares of Warby Parker from $30.00 to $29.00 and set a “market outperform” rating on the stock in a research report on Friday, August 7th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Warby Parker in a research note on Friday, August 7th. Piper Sandler reaffirmed an “overweight” rating on shares of Warby Parker in a report on Tuesday, May 19th. Bank of America assumed coverage on Warby Parker in a report on Monday, June 29th. They set a “buy” rating and a $33.00 price objective on the stock. Finally, Roth Capital reaffirmed a “neutral” rating and issued a $28.00 price target on shares of Warby Parker in a research note on Wednesday, August 5th.

Insider Buying and Selling

In other news, Director Teresa Briggs sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $25.94, for a total transaction of $129,700.00. Following the sale, the director owned 48,883 shares of the company’s stock, valued at $1,268,025.02. This trade represents a 9.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Neil Blumenthal sold 9,200 shares of the stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $29.99, for a total value of $275,908.00. Following the sale, the chief executive officer directly owned 31,112 shares of the company’s stock, valued at approximately $933,048.88. The trade was a 22.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 278,167 shares of company stock valued at $8,206,480. 16.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Warby Parker

Several large investors have recently made changes to their positions in the stock. AQR Capital Management LLC lifted its holdings in Warby Parker by 101.0% during the 1st quarter. AQR Capital Management LLC now owns 171,271 shares of the company’s stock worth $3,122,000 after purchasing an additional 86,053 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Warby Parker by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,690 shares of the company’s stock worth $961,000 after purchasing an additional 2,297 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Warby Parker by 96.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,888,817 shares of the company’s stock worth $34,433,000 after purchasing an additional 929,073 shares during the period. Caxton Associates LLP purchased a new stake in Warby Parker in the 1st quarter valued at about $252,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Warby Parker by 17.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 257,020 shares of the company’s stock valued at $4,685,000 after acquiring an additional 38,395 shares in the last quarter. Institutional investors own 93.24% of the company’s stock.

Warby Parker Stock Up 1.8%

Shares of NYSE WRBY opened at $24.78 on Friday. Warby Parker has a 52-week low of $14.96 and a 52-week high of $31.00. The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of 354.04, a PEG ratio of 6.60 and a beta of 1.91. The stock’s fifty day simple moving average is $26.45 and its 200 day simple moving average is $25.18.

Warby Parker (NYSE:WRBY) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.06). The company had revenue of $235.51 million for the quarter, compared to analyst estimates of $237.98 million. Warby Parker had a return on equity of 3.36% and a net margin of 0.85%.Warby Parker’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.01) EPS. As a group, analysts anticipate that Warby Parker will post 0.14 earnings per share for the current year.

About Warby Parker

Warby Parker, Inc (NYSE: WRBY) is a U.S.-based eyewear company that designs, manufactures and sells prescription glasses, sunglasses and contact lenses through a direct-to-consumer model. Since its founding, the company has combined online and brick-and-mortar channels to streamline the customer experience, offering features such as virtual try-on technology and a home try-on program that allows consumers to sample frames before purchase.

Established in 2010 by Wharton graduates Neil Blumenthal, Dave Gilboa, Andrew Hunt and Jeffrey Raider, Warby Parker set out to disrupt the traditional optical market by controlling the entire supply chain—from frame design and lens production to warehousing and distribution.