Warby Parker’s (WRBY) Outperform Rating Reaffirmed at Telsey Advisory Group

Telsey Advisory Group reiterated their outperform rating on shares of Warby Parker (NYSE:WRBY) in a report published on Thursday morning, Benzinga reports. Telsey Advisory Group currently has a $19.00 price target on the stock.

Several other analysts have also weighed in on WRBY. The Goldman Sachs Group upgraded Warby Parker from a “neutral” rating to a “buy” rating and upped their price objective for the company from $15.00 to $18.00 in a report on Monday, October 21st. Piper Sandler began coverage on Warby Parker in a research note on Friday, August 23rd. They set an “overweight” rating and a $18.00 target price on the stock. Loop Capital increased 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 upgraded 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 report on Friday, August 23rd. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Warby Parker from a “neutral” rating to a “buy” rating and increased their target price for the stock from $15.00 to $18.00 in a research report on Monday, October 21st. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

Warby Parker Trading Up 2.7 %

WRBY traded up $0.46 on Thursday, reaching $17.39. The company had a trading volume of 116,768 shares, compared to its average volume of 1,384,457. The company has a market capitalization of $1.75 billion, a P/E ratio of -44.18 and a beta of 1.82. The company has a fifty day moving average of $15.47 and a 200-day moving average of $15.28. Warby Parker has a one year low of $9.83 and a one year high of $18.37.

Warby Parker (NYSE:WRBY) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $186.89 million. Research analysts predict that Warby Parker will post -0.04 EPS for the current year.

Insider Activity

In other Warby Parker news, Director Bradley E. Singer acquired 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was acquired at an average price of $13.00 per share, with a total value of $650,000.00. Following the transaction, the director now owns 100,000 shares of the company’s stock, valued at approximately $1,300,000. This trade represents a 100.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Bradley E. Singer bought 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were acquired at an average price of $13.00 per share, with a total value of $650,000.00. Following the completion of the transaction, the director now owns 100,000 shares of the company’s stock, valued at $1,300,000. The trade was a 100.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Neil Harris Blumenthal sold 27,143 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $13.00, for a total transaction of $352,859.00. Following the transaction, the chief executive officer now directly owns 12,177 shares of the company’s stock, valued at $158,301. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 99,178 shares of company stock valued at $1,339,901. 26.55% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of WRBY. AIA Group Ltd increased its holdings in Warby Parker by 12.2% in the 3rd quarter. AIA Group Ltd now owns 182,573 shares of the company’s stock valued at $2,981,000 after buying an additional 19,923 shares during the period. Janney Montgomery Scott LLC increased its stake in Warby Parker by 3.4% in the third quarter. Janney Montgomery Scott LLC now owns 47,908 shares of the company’s stock valued at $782,000 after acquiring an additional 1,556 shares during the period. Zweig DiMenna Associates LLC lifted its stake in Warby Parker by 57.2% during the third quarter. Zweig DiMenna Associates LLC now owns 507,450 shares of the company’s stock worth $8,287,000 after purchasing an additional 184,700 shares during the period. Prentiss Smith & Co. Inc. acquired a new stake in Warby Parker in the 3rd quarter valued at $1,112,000. Finally, LVW Advisors LLC boosted its stake in shares of Warby Parker by 27.9% in the 3rd quarter. LVW Advisors LLC now owns 16,027 shares of the company’s stock valued at $262,000 after purchasing an additional 3,500 shares in the last quarter. 93.24% of the stock is currently owned by institutional investors and hedge funds.

About Warby Parker

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.