Warby Parker Inc. (NYSE:WRBY) Receives Consensus Rating of “Moderate Buy” from Analysts

Warby Parker Inc. (NYSE:WRBY) has been given an average rating of “Moderate Buy” by the eleven research firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $30.08.

WRBY has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft set a $29.00 target price on Warby Parker in a research note on Thursday, September 17th. Citigroup reissued a “market outperform” rating on shares of Warby Parker in a research note on Thursday, September 17th. Roth Capital restated a “neutral” rating and set a $28.00 target price on shares of Warby Parker in a report on Wednesday, August 5th. Weiss Ratings downgraded Warby Parker from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, September 25th. Finally, BTIG Research reiterated a “buy” rating on shares of Warby Parker in a research note on Friday, August 14th.

Warby Parker Trading Down 1.8%

Shares of WRBY stock opened at $27.01 on Tuesday. The company’s 50-day moving average price is $25.66 and its 200-day moving average price is $25.22. Warby Parker has a twelve month low of $14.96 and a twelve month high of $31.00. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of 385.80, a PEG ratio of 7.32 and a beta of 1.89.

Warby Parker (NYSE:WRBY) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06). The firm 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%.The firm’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.01) EPS. As a group, equities research analysts predict that Warby Parker will post 0.14 EPS for the current year.

Insider Buying and Selling

In related news, CEO Neil Blumenthal sold 100,000 shares of the business’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $27.69, for a total transaction of $2,769,000.00. Following the completion of the transaction, the chief executive officer directly owned 36,020 shares of the company’s stock, valued at $997,393.80. The trade was a 73.52% decrease in their position. 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. 16.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Warby Parker

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC raised its stake in Warby Parker by 105.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,310 shares of the company’s stock valued at $28,000 after acquiring an additional 673 shares during the last quarter. Essential Partners LLC lifted its holdings in shares of Warby Parker by 44.2% during the first quarter. Essential Partners LLC now owns 2,570 shares of the company’s stock worth $54,000 after purchasing an additional 788 shares during the period. Parallel Advisors LLC lifted its holdings in shares of Warby Parker by 110.7% during the first quarter. Parallel Advisors LLC now owns 1,837 shares of the company’s stock worth $39,000 after purchasing an additional 965 shares during the period. IFP Advisors Inc grew its position in Warby Parker by 7.5% in the 2nd quarter. IFP Advisors Inc now owns 19,453 shares of the company’s stock valued at $590,000 after buying an additional 1,355 shares during the last quarter. Finally, Corient Private Wealth LP boosted its holdings in shares of Warby Parker by 1.8% in the second quarter. Corient Private Wealth LP now owns 118,845 shares of the company’s stock valued at $3,606,000 after acquiring an additional 2,127 shares in the last quarter. Hedge funds and other institutional investors own 93.24% of the company’s stock.

About Warby Parker

Warby Parker Inc is an omnichannel eyewear company that designs, produces, and sells prescription eyeglasses, sunglasses, contact lenses, and related vision-care products. The company serves customers through its e-commerce platform, retail stores, and other direct-to-consumer channels, offering products under its Warby Parker brand.

Founded in 2010 by Neil Blumenthal, Dave Gilboa, Andrew Hunt, and Jeffrey Raider, Warby Parker began as an online eyewear retailer and later expanded its physical retail presence.