Warby Parker (NYSE:WRBY) Upgraded to “Outperform” at William Blair

William Blair upgraded shares of Warby Parker (NYSE:WRBY) from a market perform rating to an outperform rating in a research note released on Thursday, MarketBeat.com reports.

A number of other research firms also recently weighed in on WRBY. 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 target for the company. The Goldman Sachs Group raised 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 report on Monday, October 21st. Telsey Advisory Group restated an “outperform” rating and set a $19.00 price objective on shares of Warby Parker in a research note on Thursday. Stifel Nicolaus increased their target price on shares of Warby Parker from $14.00 to $15.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Warby Parker from a “neutral” rating to a “buy” rating and lifted their price target for the company from $15.00 to $18.00 in a report on Monday, October 21st. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $18.18.

Warby Parker Price Performance

WRBY traded up $0.55 during trading hours on Thursday, reaching $19.86. 1,306,102 shares of the stock traded hands, compared to its average volume of 1,408,886. Warby Parker has a fifty-two week low of $9.83 and a fifty-two week high of $19.86. The company has a market cap of $2.00 billion, a price-to-earnings ratio of -49.79 and a beta of 1.80. The firm’s fifty day simple moving average is $15.82 and its two-hundred day simple moving average is $15.50.

Warby Parker (NYSE:WRBY) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. Warby Parker had a negative return on equity of 11.09% and a negative net margin of 6.38%. The firm had revenue of $188.22 million during the quarter, compared to the consensus estimate of $186.89 million. On average, research analysts predict that Warby Parker will post -0.04 earnings per share for the current year.

Insider Activity at Warby Parker

In other news, CFO Steven Clive Miller sold 15,272 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $13.00, for a total value of $198,536.00. Following the completion of the sale, the chief financial officer now owns 184,251 shares in the company, valued at $2,395,263. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Neil Harris Blumenthal sold 50,000 shares of Warby Parker stock in a transaction on Monday, September 9th. The stock was sold at an average price of $13.89, for a total transaction of $694,500.00. Following the completion of the sale, the chief executive officer now owns 12,177 shares of the company’s stock, valued at approximately $169,138.53. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Steven Clive Miller sold 15,272 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $13.00, for a total value of $198,536.00. Following the sale, the chief financial officer now directly owns 184,251 shares of the company’s stock, valued at $2,395,263. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 99,178 shares of company stock worth $1,339,901 in the last 90 days. Corporate insiders own 26.55% of the company’s stock.

Institutional Trading of Warby Parker

Large investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. grew its holdings in Warby Parker by 79.9% during the first quarter. Advisors Asset Management Inc. now owns 5,125 shares of the company’s stock valued at $70,000 after purchasing an additional 2,276 shares during the last quarter. First Eagle Investment Management LLC bought a new position in shares of Warby Parker in the second quarter worth about $131,000. Choreo LLC bought a new stake in Warby Parker during the 2nd quarter valued at approximately $167,000. Sciencast Management LP bought a new position in Warby Parker in the 1st quarter worth approximately $145,000. Finally, AQR Capital Management LLC acquired a new stake in shares of Warby Parker in the second quarter worth $186,000. 93.24% of the stock is owned by institutional investors.

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.