Warby Parker Inc. (NYSE:WRBY) Receives Average Rating of "Moderate Buy" from Brokerages

Warby Parker Inc. (NYSE:WRBY - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the eight brokerages that are currently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $16.75.

Several analysts have recently weighed in on the stock. Piper Sandler assumed coverage on shares of Warby Parker in a research report on Friday, August 23rd. They set an "overweight" rating and a $18.00 price objective on the stock. JMP Securities upgraded shares of Warby Parker from a "market perform" rating to an "outperform" rating and set a $20.00 target price on the stock in a research report on Friday, August 23rd. Telsey Advisory Group reiterated an "outperform" rating and issued a $19.00 target price on shares of Warby Parker in a research report on Thursday, August 8th. Loop Capital lifted their target price 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. Finally, Stifel Nicolaus lifted their target price 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.

Insider Buying and Selling at Warby Parker

In other news, Director Bradley E. Singer acquired 50,000 shares of the firm's stock in a transaction on Tuesday, August 13th. The shares were purchased at an average price 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 $1,300,000. The trade was a 100.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Steven Clive Miller sold 15,272 shares of Warby Parker stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $13.00, for a total transaction of $198,536.00. Following the sale, the chief financial officer now owns 184,251 shares of the company's stock, valued at approximately $2,395,263. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Bradley E. Singer bought 50,000 shares of the business's stock in a transaction dated Tuesday, August 13th. The shares were bought at an average cost of $13.00 per share, for a total transaction of $650,000.00. Following the purchase, the director now directly owns 100,000 shares in the company, valued at approximately $1,300,000. This represents a 100.00 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 99,178 shares of company stock worth $1,339,901. 26.55% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Warby Parker

A number of large investors have recently modified their holdings of WRBY. Advisors Asset Management Inc. boosted its stake in Warby Parker by 79.9% during the first 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 in the last quarter. First Eagle Investment Management LLC bought a new stake in Warby Parker during the second quarter worth about $131,000. Sciencast Management LP bought a new stake in Warby Parker during the first quarter worth about $145,000. Principal Financial Group Inc. bought a new stake in Warby Parker during the first quarter worth about $158,000. Finally, Choreo LLC bought a new stake in Warby Parker during the second quarter worth about $167,000. Institutional investors own 93.24% of the company's stock.

Warby Parker Trading Up 3.8 %

Shares of Warby Parker stock traded up $0.59 on Friday, hitting $16.10. 1,354,584 shares of the company traded hands, compared to its average volume of 1,393,473. The firm's 50-day simple moving average is $14.70 and its 200 day simple moving average is $14.81. The company has a market cap of $1.62 billion, a P/E ratio of -33.00 and a beta of 1.82. Warby Parker has a 12-month low of $9.83 and a 12-month high of $17.95.

Warby Parker (NYSE:WRBY - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.01. The firm had revenue of $188.22 million for the quarter, compared to analysts' expectations of $186.89 million. Warby Parker had a negative net margin of 6.38% and a negative return on equity of 11.09%. Analysts predict that Warby Parker will post -0.04 earnings per share for the current year.

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.