Warby Parker’s (WRBY) “Outperform” Rating Reiterated at Telsey Advisory Group

Telsey Advisory Group reissued their outperform rating on shares of Warby Parker (NYSE:WRBY) in a research report released on Thursday morning, MarketBeat reports. The brokerage currently has a $19.00 price objective on the stock.

Other equities research analysts have also recently issued reports about the stock. The Goldman Sachs Group raised shares of Warby Parker from a “neutral” rating to a “buy” rating and raised their target price for the stock from $15.00 to $18.00 in a research report on Monday, October 21st. Stifel Nicolaus increased their price target on shares of Warby Parker from $14.00 to $15.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Loop Capital boosted their price objective on shares of Warby Parker from $15.00 to $16.00 and gave the company a “hold” rating in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft upgraded Warby Parker from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $15.00 to $18.00 in a report on Monday, October 21st. Finally, Piper Sandler initiated coverage on Warby Parker in a report on Friday, August 23rd. They issued an “overweight” rating and a $18.00 target price on the stock. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $18.18.

Warby Parker Stock Performance

Shares of WRBY opened at $19.51 on Thursday. Warby Parker has a fifty-two week low of $9.83 and a fifty-two week high of $19.93. The stock has a fifty day moving average of $15.92 and a two-hundred day moving average of $15.57. The company has a market capitalization of $1.96 billion, a PE ratio of -50.03 and a beta of 1.80.

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

Insiders Place Their Bets

In other news, CFO Steven Clive Miller sold 6,763 shares of Warby Parker stock in a transaction that occurred 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 sale, the chief financial officer now owns 177,488 shares in the company, valued at $2,467,083.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Warby Parker news, CFO Steven Clive Miller sold 6,763 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $13.90, for a total value of $94,005.70. Following the completion of the transaction, the chief financial officer now directly 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Bradley E. Singer bought 50,000 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were 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 owns 100,000 shares of the company’s stock, valued at approximately $1,300,000. The trade was a 100.00 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 99,178 shares of company stock worth $1,339,901 in the last 90 days. 26.55% of the stock is owned by company insiders.

Hedge Funds Weigh In On Warby Parker

A number of institutional investors have recently made changes to their positions in the business. Advisors Asset Management Inc. increased its stake in shares of Warby Parker by 79.9% in the first quarter. Advisors Asset Management Inc. now owns 5,125 shares of the company’s stock worth $70,000 after buying an additional 2,276 shares during the last quarter. First Eagle Investment Management LLC bought a new position in Warby Parker during the 2nd quarter valued at $131,000. Choreo LLC acquired a new position in Warby Parker during the 2nd quarter worth $167,000. Sciencast Management LP bought a new stake in shares of Warby Parker in the 1st quarter worth about $145,000. Finally, AQR Capital Management LLC acquired a new stake in shares of Warby Parker in the 2nd quarter valued at about $186,000. 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.