Warby Parker (NYSE:WRBY) PT Raised to $15.00 at Stifel Nicolaus

Warby Parker (NYSE:WRBY) had its price target raised by investment analysts at Stifel Nicolaus from $14.00 to $15.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “hold” rating on the stock. Stifel Nicolaus’ price target suggests a potential upside of 13.98% from the stock’s current price.

Several other brokerages have also issued reports on WRBY. Telsey Advisory Group restated an “outperform” rating and set a $19.00 target price on shares of Warby Parker in a research report on Thursday. Morgan Stanley upped their price objective on Warby Parker from $13.00 to $14.00 and gave the company an “equal weight” rating in a research report on Friday, May 10th. Loop Capital boosted their target price 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. Finally, UBS Group raised their price target on shares of Warby Parker from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Friday, May 10th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $16.25.

Warby Parker Price Performance

Shares of NYSE:WRBY traded down $0.88 during trading on Friday, hitting $13.16. The company had a trading volume of 1,678,727 shares, compared to its average volume of 1,295,653. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of -28.00 and a beta of 1.82. The company has a fifty day simple moving average of $15.96 and a two-hundred day simple moving average of $14.46. Warby Parker has a one year low of $9.83 and a one year high of $17.95.

Warby Parker (NYSE:WRBY) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.02) by $0.01. Warby Parker had a negative net margin of 7.89% and a negative return on equity of 13.19%. The company had revenue of $200.00 million during the quarter, compared to analyst estimates of $196.25 million. On average, equities research analysts anticipate that Warby Parker will post -0.09 earnings per share for the current year.

Insider Activity

In related news, CFO Steven Clive Miller sold 15,709 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now owns 166,879 shares in the company, valued at $2,843,618.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Warby Parker news, Director Teresa Briggs sold 7,396 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $16.31, for a total transaction of $120,628.76. Following the completion of the sale, the director now directly owns 38,859 shares in the company, valued at approximately $633,790.29. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Steven Clive Miller sold 15,709 shares of the stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $17.04, for a total value of $267,681.36. Following the transaction, the chief financial officer now directly owns 166,879 shares of the company’s stock, valued at approximately $2,843,618.16. The disclosure for this sale can be found here. Insiders sold a total of 5,848,537 shares of company stock valued at $91,938,722 in the last three months. 26.55% of the stock is currently owned by corporate insiders.

Institutional Trading of Warby Parker

A number of hedge funds and other institutional investors have recently made changes to their positions in WRBY. Strs Ohio acquired a new stake in Warby Parker during the fourth quarter worth $40,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Warby Parker by 12.7% during 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 period. AIA Group Ltd raised its stake in shares of Warby Parker by 49.8% in the 4th quarter. AIA Group Ltd now owns 164,861 shares of the company’s stock valued at $2,325,000 after acquiring an additional 54,839 shares during the period. Jennison Associates LLC purchased a new stake in shares of Warby Parker in the 4th quarter valued at approximately $12,034,000. Finally, Victory Capital Management Inc. acquired a new position in shares of Warby Parker in the 4th quarter worth approximately $160,000. 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.