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

Shares of Warby Parker Inc. (NYSE:WRBY) have been assigned an average rating of “Moderate Buy” from the eight research firms that are covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $16.75.

Several equities research analysts have issued reports on the stock. Telsey Advisory Group reissued an “outperform” rating and issued a $19.00 price objective on shares of Warby Parker in a research report on Thursday, August 8th. Loop Capital upped their price target on shares of Warby Parker from $15.00 to $16.00 and gave the stock a “hold” rating in a research report on Wednesday, July 10th. JMP Securities raised shares of Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 price target for the company in a research report on Friday, August 23rd. Stifel Nicolaus upped their price target on shares of Warby Parker from $14.00 to $15.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Finally, Piper Sandler started coverage on shares of Warby Parker in a research report on Friday, August 23rd. They issued an “overweight” rating and a $18.00 price target for the company.

Warby Parker Price Performance

Shares of Warby Parker stock opened at $16.33 on Friday. The company’s fifty day simple moving average is $14.71 and its 200-day simple moving average is $14.93. The stock has a market capitalization of $1.64 billion, a PE ratio of -34.74 and a beta of 1.82. Warby Parker has a 1-year low of $9.83 and a 1-year high of $17.95.

Warby Parker (NYSE:WRBY) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $188.22 million for the quarter, compared to the consensus estimate of $186.89 million. As a group, research analysts anticipate that Warby Parker will post -0.04 EPS for the current year.

Insider Activity

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

Hedge Funds Weigh In On Warby Parker

Institutional investors have recently bought and sold shares of the company. Jacobson & Schmitt Advisors LLC boosted its position in shares of Warby Parker by 0.3% during the 1st quarter. Jacobson & Schmitt Advisors LLC now owns 408,105 shares of the company’s stock worth $5,554,000 after purchasing an additional 1,397 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of Warby Parker by 10.2% during the 1st quarter. ProShare Advisors LLC now owns 15,470 shares of the company’s stock worth $211,000 after acquiring an additional 1,434 shares during the period. Advisors Asset Management Inc. lifted its holdings in shares of Warby Parker by 79.9% during the 1st quarter. Advisors Asset Management Inc. now owns 5,125 shares of the company’s stock worth $70,000 after acquiring an additional 2,276 shares during the period. Hsbc Holdings PLC raised its holdings in Warby Parker by 11.5% in the second quarter. Hsbc Holdings PLC now owns 25,696 shares of the company’s stock valued at $413,000 after buying an additional 2,651 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in Warby Parker by 7.2% in the second quarter. The Manufacturers Life Insurance Company now owns 44,667 shares of the company’s stock valued at $717,000 after buying an additional 3,007 shares during the period. 93.24% of the stock is owned by institutional investors and hedge funds.

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.