Analysts Set Warby Parker Inc. (NYSE:WRBY) Price Target at $16.43

Shares of Warby Parker Inc. (NYSE:WRBY) have been given an average rating of “Hold” by the seven analysts that are covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $16.43.

A number of brokerages have issued reports on WRBY. UBS Group upped their price objective on shares of Warby Parker from $13.00 to $15.00 and gave the stock a “neutral” rating in a research report on Friday, May 10th. Loop Capital increased their price target on Warby Parker from $15.00 to $16.00 and gave the company a “hold” rating in a research report on Wednesday, July 10th. Morgan Stanley boosted their price objective on Warby Parker from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Friday, May 10th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $19.00 target price on shares of Warby Parker in a research report on Thursday, May 9th.

Warby Parker Price Performance

WRBY opened at $16.23 on Friday. Warby Parker has a fifty-two week low of $9.83 and a fifty-two week high of $17.95. The firm has a market capitalization of $1.61 billion, a PE ratio of -34.53 and a beta of 1.82. The company’s 50-day moving average is $16.37 and its 200 day moving average is $14.33.

Warby Parker (NYSE:WRBY) last issued 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. The firm had revenue of $200.00 million during the quarter, compared to the consensus estimate of $196.25 million. Warby Parker had a negative return on equity of 13.19% and a negative net margin of 7.89%. As a group, analysts expect that Warby Parker will post -0.09 EPS for the current year.

Insider Transactions at Warby Parker

In other Warby Parker news, major shareholder D1 Capital Partners L.P. sold 5,500,000 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $15.66, for a total transaction of $86,130,000.00. Following the sale, the insider now directly owns 9,444,023 shares of the company’s stock, valued at $147,893,400.18. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Teresa Briggs sold 7,396 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $16.31, for a total value of $120,628.76. Following the completion of the transaction, the director now directly owns 38,859 shares of the company’s stock, valued at $633,790.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder D1 Capital Partners L.P. sold 5,500,000 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $15.66, for a total value of $86,130,000.00. Following the sale, the insider now owns 9,444,023 shares in the company, valued at $147,893,400.18. The disclosure for this sale can be found here. In the last 90 days, insiders 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

Hedge funds have recently added to or reduced their stakes in the stock. TimesSquare Capital Management LLC bought a new position in shares of Warby Parker in the fourth quarter valued at approximately $9,542,000. Janney Montgomery Scott LLC boosted its holdings in Warby Parker by 302.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 48,245 shares of the company’s stock valued at $657,000 after purchasing an additional 36,245 shares during the period. Vanguard Group Inc. grew its position in shares of Warby Parker by 7.7% during the 4th quarter. Vanguard Group Inc. now owns 8,457,986 shares of the company’s stock valued at $119,258,000 after purchasing an additional 607,352 shares in the last quarter. AIA Group Ltd increased its holdings in shares of Warby Parker by 49.8% in the fourth quarter. AIA Group Ltd now owns 164,861 shares of the company’s stock worth $2,325,000 after purchasing an additional 54,839 shares during the period. Finally, Invenomic Capital Management LP purchased a new stake in shares of Warby Parker in the fourth quarter worth $3,432,000. Hedge funds and other institutional investors own 93.24% of the company’s stock.

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.