Warby Parker (NYSE:WRBY) Raised to "Outperform" at JMP Securities

Warby Parker (NYSE:WRBY - Get Free Report) was upgraded by analysts at JMP Securities from a "market perform" rating to an "outperform" rating in a research report issued on Friday, Marketbeat.com reports. The brokerage presently has a $20.00 price target on the stock. JMP Securities' price target would indicate a potential upside of 28.95% from the stock's current price.

Other equities analysts have also recently issued reports about the stock. Morgan Stanley upped their price objective on shares of Warby Parker from $13.00 to $14.00 and gave the company an "equal weight" rating in a research report on Friday, May 10th. UBS Group upped their price objective on shares of Warby Parker from $13.00 to $15.00 and gave the company a "neutral" rating in a research report on Friday, May 10th. 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. Stifel Nicolaus upped their price objective on shares of Warby Parker from $14.00 to $15.00 and gave the company a "hold" rating in a research report on Friday, August 9th. Finally, Loop Capital upped their price objective on shares of Warby Parker from $15.00 to $16.00 and gave the company a "hold" rating in a research report on Wednesday, July 10th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $17.11.

Warby Parker Price Performance

NYSE WRBY traded up $1.65 during trading hours on Friday, hitting $15.51. The company had a trading volume of 5,437,071 shares, compared to its average volume of 1,347,203. The firm's 50 day moving average is $15.38 and its 200 day moving average is $14.48. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of -33.00 and a beta of 1.82. Warby Parker has a fifty-two week low of $9.83 and a fifty-two week high of $17.95.

Insider Buying and Selling at Warby Parker

In other news, Director Bradley E. Singer purchased 50,000 shares of the company's stock in a transaction on Tuesday, August 13th. The shares were 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 owns 100,000 shares of the company's stock, valued at $1,300,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Bradley E. Singer purchased 50,000 shares of the company's stock in a transaction on Tuesday, August 13th. The shares were 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 owns 100,000 shares of the company's stock, valued at $1,300,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Steven Clive Miller sold 15,709 shares of the firm's stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $17.04, for a total transaction of $267,681.36. Following the transaction, the chief financial officer now owns 166,879 shares in the company, valued at approximately $2,843,618.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,848,537 shares of company stock worth $91,938,722. 26.55% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in WRBY. Strs Ohio acquired a new position in shares of Warby Parker during the fourth quarter valued at approximately $40,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Warby Parker by 12.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,520 shares of the company's stock worth $247,000 after buying an additional 1,974 shares during the last quarter. Jennison Associates LLC acquired a new position in Warby Parker in the fourth quarter worth approximately $12,034,000. Victory Capital Management Inc. acquired a new position in Warby Parker in the fourth quarter worth approximately $160,000. Finally, Levin Capital Strategies L.P. acquired a new position in Warby Parker in the fourth quarter worth approximately $141,000. Institutional investors and hedge funds own 93.24% of the company's stock.

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.