Warby Parker (NYSE:WRBY) Upgraded at William Blair

Warby Parker (NYSE:WRBY) was upgraded by equities research analysts at William Blair from a “market perform” rating to an “outperform” rating in a report released on Thursday, MarketBeat reports.

Other equities analysts have also recently issued research reports about the stock. Loop Capital raised their target price on shares of Warby Parker from $15.00 to $16.00 and gave the stock a “hold” rating in a report on Wednesday, July 10th. JMP Securities upgraded shares of Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 price target on the stock in a research note on Friday, August 23rd. The Goldman Sachs Group upgraded shares of Warby Parker from a “neutral” rating to a “buy” rating and raised their price target for the company from $15.00 to $18.00 in a research note on Monday, October 21st. Deutsche Bank Aktiengesellschaft upgraded shares of Warby Parker from a “neutral” rating to a “buy” rating and raised their price objective for the company from $15.00 to $18.00 in a research note on Monday, October 21st. Finally, BTIG Research raised their price objective on shares of Warby Parker from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $17.30.

Warby Parker Stock Performance

Shares of WRBY stock traded up $0.09 during trading hours on Thursday, hitting $19.06. 1,726,881 shares of the company were exchanged, compared to its average volume of 1,405,751. Warby Parker has a one year low of $9.83 and a one year high of $19.60. The business’s 50-day simple moving average is $15.74 and its two-hundred day simple moving average is $15.48. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of -49.13 and a beta of 1.80.

Warby Parker (NYSE:WRBY) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.01. Warby Parker had a negative net margin of 6.38% and a negative return on equity of 11.09%. The business had revenue of $188.22 million for the quarter, compared to analysts’ expectations of $186.89 million. As a group, analysts anticipate that Warby Parker will post -0.04 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Bradley E. Singer bought 50,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was bought at an average price of $13.00 per share, with a total value of $650,000.00. Following the purchase, the director now directly owns 100,000 shares of the company’s stock, valued at approximately $1,300,000. This represents a 100.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO Steven Clive Miller sold 6,763 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $13.90, for a total transaction of $94,005.70. Following the transaction, the chief financial officer now owns 177,488 shares in the company, valued at approximately $2,467,083.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bradley E. Singer bought 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average price of $13.00 per share, for a total transaction of $650,000.00. Following the acquisition, the director now directly owns 100,000 shares in the company, valued at approximately $1,300,000. This trade represents a 100.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 99,178 shares of company stock valued at $1,339,901. Company insiders own 26.55% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Quest Partners LLC increased its holdings in shares of Warby Parker by 77.8% during the 3rd quarter. Quest Partners LLC now owns 42,305 shares of the company’s stock worth $691,000 after purchasing an additional 18,514 shares during the period. Thrivent Financial for Lutherans bought a new position in shares of Warby Parker during the 3rd quarter worth about $213,000. Vaughan Nelson Investment Management L.P. boosted its position in shares of Warby Parker by 3.2% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,555,705 shares of the company’s stock valued at $41,735,000 after acquiring an additional 78,295 shares in the last quarter. Natixis Advisors LLC boosted its position in shares of Warby Parker by 4.7% during the 3rd quarter. Natixis Advisors LLC now owns 466,413 shares of the company’s stock valued at $7,617,000 after acquiring an additional 21,121 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Warby Parker during the 3rd quarter valued at about $372,000. Institutional investors 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.