Warby Parker’s (WRBY) Outperform Rating Reiterated at Telsey Advisory Group

Warby Parker (NYSE:WRBY)‘s stock had its “outperform” rating reissued by equities researchers at Telsey Advisory Group in a research note issued on Thursday, Benzinga reports. They currently have a $19.00 price objective on the stock. Telsey Advisory Group’s price objective indicates a potential upside of 27.43% from the stock’s current price.

Separately, Morgan Stanley increased their target price on shares of Warby Parker from $12.00 to $13.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 24th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $16.29.

Warby Parker Trading Up 19.9 %

WRBY traded up $2.47 during trading hours on Thursday, hitting $14.91. The company’s stock had a trading volume of 893,463 shares, compared to its average volume of 1,179,650. The business’s 50-day moving average price is $12.64 and its 200-day moving average price is $12.76. Warby Parker has a 12 month low of $9.83 and a 12 month high of $16.49. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of -27.31 and a beta of 1.64.

Warby Parker (NYSE:WRBY) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.04). Warby Parker had a negative return on equity of 16.36% and a negative net margin of 9.44%. The business had revenue of $161.86 million during the quarter, compared to the consensus estimate of $161.01 million. On average, analysts forecast that Warby Parker will post -0.13 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO David Abraham Gilboa sold 52,065 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $12.20, for a total value of $635,193.00. Following the transaction, the chief executive officer now owns 12,306 shares of the company’s stock, valued at approximately $150,133.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO David Abraham Gilboa sold 52,065 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $12.20, for a total value of $635,193.00. Following the transaction, the chief executive officer now owns 12,306 shares of the company’s stock, valued at approximately $150,133.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Steven Clive Miller sold 8,708 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $11.88, for a total transaction of $103,451.04. Following the completion of the transaction, the chief financial officer now directly owns 191,104 shares in the company, valued at approximately $2,270,315.52. The disclosure for this sale can be found here. Insiders have sold 89,084 shares of company stock valued at $1,074,979 in the last 90 days. Company insiders own 26.91% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jacobson & Schmitt Advisors LLC grew its holdings in Warby Parker by 0.3% during the 1st quarter. Jacobson & Schmitt Advisors LLC now owns 408,105 shares of the company’s stock worth $5,554,000 after acquiring an additional 1,397 shares in the last quarter. ProShare Advisors LLC grew its holdings in Warby Parker by 10.2% during the 1st quarter. ProShare Advisors LLC now owns 15,470 shares of the company’s stock worth $211,000 after acquiring an additional 1,434 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Warby Parker by 37.1% during the 1st quarter. Russell Investments Group Ltd. now owns 225,338 shares of the company’s stock worth $3,067,000 after acquiring an additional 61,004 shares in the last quarter. TimesSquare Capital Management LLC grew its holdings in Warby Parker by 149.4% during the 1st quarter. TimesSquare Capital Management LLC now owns 1,687,750 shares of the company’s stock worth $22,970,000 after acquiring an additional 1,011,030 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Warby Parker in the 1st quarter valued at about $176,000. 93.24% of the stock is currently owned by institutional investors.

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.