Warby Parker Inc. (NYSE:WRBY) Stock Has Consensus Target Price of $30.00 According to Brokerages

Warby Parker Inc. (NYSE:WRBY) has received a consensus recommendation of “Moderate Buy” from the ten brokerages that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and six have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $30.00.

WRBY has been the subject of several analyst reports. BTIG Research reiterated a “buy” rating on shares of Warby Parker in a research note on Friday, August 14th. Roth Capital reissued a “neutral” rating and issued a $28.00 price target on shares of Warby Parker in a research note on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft set a $29.00 price target on Warby Parker in a research note on Thursday, September 17th. UBS Group lifted their price target on Warby Parker from $27.00 to $28.00 and gave the company a “neutral” rating in a report on Friday, August 7th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Warby Parker in a research note on Thursday, September 17th.

Insider Activity

In related news, CEO Neil Blumenthal sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $27.69, for a total value of $2,769,000.00. Following the completion of the sale, the chief executive officer directly owned 36,020 shares in the company, valued at approximately $997,393.80. The trade was a 73.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 16.80% of the company’s stock.

Hedge Funds Weigh In On Warby Parker

Large investors have recently bought and sold shares of the stock. Sterling Capital Management LLC increased its holdings in shares of Warby Parker by 839.3% during the 3rd quarter. Sterling Capital Management LLC now owns 3,419 shares of the company’s stock worth $95,000 after buying an additional 3,055 shares during the last quarter. Kings Path Partners LLC purchased a new position in shares of Warby Parker in the 3rd quarter worth $476,000. Pinnacle Associates Ltd. boosted its holdings in Warby Parker by 1.4% in the third quarter. Pinnacle Associates Ltd. now owns 27,679 shares of the company’s stock valued at $769,000 after acquiring an additional 393 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Warby Parker by 53.7% in the third quarter. GAMMA Investing LLC now owns 1,339 shares of the company’s stock valued at $37,000 after acquiring an additional 468 shares during the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new position in Warby Parker in the second quarter valued at $149,000. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Warby Parker Stock Performance

Shares of NYSE WRBY opened at $25.35 on Friday. Warby Parker has a 1 year low of $14.96 and a 1 year high of $31.00. The firm’s 50 day moving average price is $25.32 and its 200 day moving average price is $25.29. The firm has a market cap of $2.74 billion, a P/E ratio of 362.11, a price-to-earnings-growth ratio of 7.02 and a beta of 1.89.

Warby Parker (NYSE:WRBY) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06). Warby Parker had a return on equity of 3.36% and a net margin of 0.85%. The business had revenue of $235.51 million for the quarter, compared to analysts’ expectations of $237.98 million. During the same period in the prior year, the company earned ($0.01) EPS. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, equities analysts predict that Warby Parker will post 0.14 EPS for the current year.

About Warby Parker

Warby Parker Inc is an optical retailer that designs, manufactures and sells prescription eyeglasses, sunglasses, contact lenses and related accessories. The company offers its products through its website, mobile applications and a growing network of retail stores, combining online shopping with in-person services such as frame fitting and eye examinations.

Founded in 2010 by Neil Blumenthal, Dave Gilboa, Andrew Hunt and Jeffrey Raider, Warby Parker was established as a direct-to-consumer eyewear company.