Brokerages Set Warby Parker Inc. (NYSE:WRBY) Target Price at $17.00

Warby Parker Inc. (NYSE:WRBY) has been assigned an average rating of “Moderate Buy” from the ten brokerages that are currently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $17.30.

WRBY has been the subject of several research analyst reports. Piper Sandler assumed coverage on Warby Parker in a research note on Friday, August 23rd. They set an “overweight” rating and a $18.00 target price for the company. JMP Securities upgraded shares of Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 target price on the stock in a research note on Friday, August 23rd. BTIG Research lifted their price target on Warby Parker from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday. Stifel Nicolaus upped their price objective on Warby Parker from $14.00 to $15.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Finally, Loop Capital boosted their price target on Warby Parker from $15.00 to $16.00 and gave the company a “hold” rating in a report on Wednesday, July 10th.

Warby Parker Stock Up 0.7 %

Shares of NYSE:WRBY opened at $17.57 on Tuesday. The company has a 50 day moving average of $15.57 and a two-hundred day moving average of $15.37. Warby Parker has a 52-week low of $9.83 and a 52-week high of $18.37.

Warby Parker (NYSE:WRBY) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. Warby Parker had a negative net margin of 6.38% and a negative return on equity of 11.09%. The firm had revenue of $188.22 million for the quarter, compared to analyst estimates of $186.89 million. Research analysts anticipate that Warby Parker will post -0.04 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Bradley E. Singer acquired 50,000 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were bought at an average price of $13.00 per share, with a total value of $650,000.00. Following the purchase, the director now owns 100,000 shares of the company’s stock, valued at approximately $1,300,000. This represents a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related 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, with a total value of $650,000.00. Following the completion of the acquisition, the director now owns 100,000 shares of the company’s stock, valued at approximately $1,300,000. This represents a 100.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Neil Harris Blumenthal sold 27,143 shares of the firm’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 $352,859.00. Following the sale, the chief executive officer now directly owns 12,177 shares of the company’s stock, valued at approximately $158,301. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 99,178 shares of company stock valued at $1,339,901 over the last quarter. Corporate insiders own 26.55% of the company’s stock.

Institutional Trading of Warby Parker

A number of hedge funds have recently bought and sold shares of the company. Advisors Asset Management Inc. raised its holdings in shares of 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 acquiring an additional 2,276 shares during the period. First Eagle Investment Management LLC acquired a new stake in Warby Parker during the 2nd quarter valued at $131,000. Choreo LLC purchased a new stake in shares of Warby Parker in the second quarter valued at $167,000. Sciencast Management LP acquired a new stake in shares of Warby Parker in the first quarter worth $145,000. Finally, AQR Capital Management LLC purchased a new position in shares of Warby Parker during the second quarter valued at $186,000. 93.24% of the stock is owned by hedge funds and other 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.