Warby Parker Inc. (NYSE:WRBY) Receives Average Rating of “Moderate Buy” from Analysts

Warby Parker Inc. (NYSE:WRBY) has been assigned a consensus rating of “Moderate Buy” from the fourteen ratings firms that are presently covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $29.50.

A number of brokerages recently commented on WRBY. Citigroup reissued a “market outperform” rating on shares of Warby Parker in a research note on Friday, May 22nd. Piper Sandler reaffirmed an “overweight” rating on shares of Warby Parker in a research note on Tuesday, May 19th. BTIG Research raised their price objective on Warby Parker from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Telsey Advisory Group raised their price objective on Warby Parker from $32.00 to $33.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Finally, Weiss Ratings raised Warby Parker from a “sell (d)” rating to a “hold (c-)” rating in a research note on Monday, May 11th.

Warby Parker Trading Up 5.9%

Shares of Warby Parker stock opened at $29.11 on Friday. The stock has a 50 day moving average of $25.30 and a 200 day moving average of $24.81. Warby Parker has a 12 month low of $14.96 and a 12 month high of $31.00. The firm has a market cap of $3.12 billion, a PE ratio of 1,456.23 and a beta of 1.96.

Warby Parker (NYSE:WRBY) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.08). Warby Parker had a net margin of 0.15% and a return on equity of 2.30%. The firm had revenue of $242.45 million for the quarter, compared to the consensus estimate of $239.44 million. During the same period in the previous year, the company posted $0.03 earnings per share. Warby Parker’s quarterly revenue was up 8.4% on a year-over-year basis. As a group, equities research analysts forecast that Warby Parker will post 0.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Warby Parker news, Director Youngme E. Moon sold 10,000 shares of Warby Parker stock in a transaction on Friday, June 12th. The stock was sold at an average price of $26.53, for a total transaction of $265,300.00. Following the completion of the sale, the director directly owned 26,061 shares of the company’s stock, valued at $691,398.33. The trade was a 27.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Teresa Briggs sold 5,000 shares of Warby Parker stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $25.94, for a total value of $129,700.00. Following the sale, the director directly owned 48,883 shares of the company’s stock, valued at approximately $1,268,025.02. This trade represents a 9.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 203,040 shares of company stock valued at $5,470,026 over the last quarter. 16.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Warby Parker

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Man Group plc increased its holdings in shares of Warby Parker by 1.6% in the 2nd quarter. Man Group plc now owns 25,095 shares of the company’s stock valued at $550,000 after acquiring an additional 400 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Warby Parker by 41.4% in the 4th quarter. Farther Finance Advisors LLC now owns 1,687 shares of the company’s stock worth $37,000 after purchasing an additional 494 shares in the last quarter. First Horizon Corp boosted its position in shares of Warby Parker by 96.7% in the 4th quarter. First Horizon Corp now owns 1,210 shares of the company’s stock worth $26,000 after purchasing an additional 595 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Warby Parker by 105.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,310 shares of the company’s stock valued at $28,000 after purchasing an additional 673 shares during the last quarter. Finally, Choreo LLC grew its stake in Warby Parker by 4.6% during the 3rd quarter. Choreo LLC now owns 16,605 shares of the company’s stock valued at $458,000 after purchasing an additional 728 shares during the last quarter. 93.24% of the stock is owned by institutional investors.

About Warby Parker

Warby Parker, Inc (NYSE: WRBY) is a U.S.-based eyewear company that designs, manufactures and sells prescription glasses, sunglasses and contact lenses through a direct-to-consumer model. Since its founding, the company has combined online and brick-and-mortar channels to streamline the customer experience, offering features such as virtual try-on technology and a home try-on program that allows consumers to sample frames before purchase.

Established in 2010 by Wharton graduates Neil Blumenthal, Dave Gilboa, Andrew Hunt and Jeffrey Raider, Warby Parker set out to disrupt the traditional optical market by controlling the entire supply chain—from frame design and lens production to warehousing and distribution.