Warby Parker (NYSE:WRBY) Price Target Cut to $20.00 by Analysts at UBS Group

Warby Parker (NYSE:WRBY) had its price target trimmed by UBS Group from $23.00 to $20.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other research firms have also commented on WRBY. JMP Securities decreased their price objective on Warby Parker from $30.00 to $22.00 and set a “market outperform” rating on the stock in a research note on Monday, April 14th. Evercore ISI reiterated an “in-line” rating and set a $23.00 target price on shares of Warby Parker in a research report on Friday, January 17th. Citigroup upgraded Warby Parker from a “sell” rating to a “neutral” rating and reduced their target price for the stock from $23.00 to $17.00 in a research report on Wednesday, April 30th. The Goldman Sachs Group increased their target price on Warby Parker from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Finally, Loop Capital upgraded Warby Parker from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Thursday, April 17th. Six investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $22.00.

Warby Parker Stock Performance

Warby Parker stock opened at $18.49 on Tuesday. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of -68.48 and a beta of 2.01. Warby Parker has a fifty-two week low of $12.46 and a fifty-two week high of $28.68. The stock’s fifty day moving average is $17.15 and its two-hundred day moving average is $21.55.

Insider Activity at Warby Parker

In other Warby Parker news, CFO Steven Clive Miller sold 11,684 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $23.52, for a total transaction of $274,807.68. Following the completion of the sale, the chief financial officer now owns 204,727 shares in the company, valued at $4,815,179.04. This trade represents a 5.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Neil Harris Blumenthal sold 27,967 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $23.52, for a total value of $657,783.84. Following the sale, the chief executive officer now owns 23,961 shares of the company’s stock, valued at approximately $563,562.72. This trade represents a 53.86% decrease in their position. The disclosure for this sale can be found here. Company insiders own 26.55% of the company’s stock.

Institutional Investors Weigh In On Warby Parker

Hedge funds have recently bought and sold shares of the business. Global Retirement Partners LLC acquired a new stake in Warby Parker during the 4th quarter valued at approximately $25,000. NewEdge Advisors LLC grew its stake in Warby Parker by 700.0% during the 4th quarter. NewEdge Advisors LLC now owns 1,200 shares of the company’s stock valued at $29,000 after purchasing an additional 1,050 shares in the last quarter. New York State Teachers Retirement System acquired a new stake in Warby Parker during the 1st quarter valued at approximately $27,000. Jones Financial Companies Lllp grew its stake in Warby Parker by 205.6% during the 4th quarter. Jones Financial Companies Lllp now owns 1,528 shares of the company’s stock valued at $37,000 after purchasing an additional 1,028 shares in the last quarter. Finally, Comerica Bank grew its stake in Warby Parker by 153.1% during the 4th quarter. Comerica Bank now owns 2,291 shares of the company’s stock valued at $55,000 after purchasing an additional 1,386 shares in the last quarter. Institutional investors and hedge funds 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.