Warby Parker (NYSE:WRBY) Given “Outperform” Rating at Telsey Advisory Group

Telsey Advisory Group restated their outperform rating on shares of Warby Parker (NYSE:WRBY) in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has a $19.00 target price on the stock.

Several other brokerages also recently commented on WRBY. Morgan Stanley increased their price objective on shares of Warby Parker from $13.00 to $14.00 and gave the company an equal weight rating in a research note on Friday, May 10th. UBS Group increased their price target on Warby Parker from $13.00 to $15.00 and gave the company a neutral rating in a research note on Friday, May 10th. Finally, Loop Capital boosted their price objective on Warby Parker from $15.00 to $16.00 and gave the stock a hold rating in a research report on Wednesday, July 10th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Warby Parker presently has an average rating of Hold and an average price target of $16.43.

Warby Parker Stock Performance

Shares of WRBY opened at $15.20 on Thursday. Warby Parker has a 52-week low of $9.83 and a 52-week high of $17.95. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of -32.34 and a beta of 1.82. The business’s fifty day moving average is $16.27 and its 200-day moving average is $14.43.

Warby Parker (NYSE:WRBY) last released its earnings results on Thursday, May 9th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. The firm had revenue of $200.00 million for the quarter, compared to analysts’ expectations 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, research analysts forecast that Warby Parker will post -0.09 EPS for the current fiscal year.

Insider Activity at Warby Parker

In other Warby Parker news, major shareholder D1 Capital Partners L.P. sold 5,500,000 shares of Warby Parker stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $15.66, for a total transaction of $86,130,000.00. Following the transaction, the insider now directly owns 9,444,023 shares of the company’s stock, valued at approximately $147,893,400.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Warby Parker news, major shareholder D1 Capital Partners L.P. sold 5,500,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now owns 9,444,023 shares of the company’s stock, valued at approximately $147,893,400.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Teresa Briggs sold 7,396 shares of the firm’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 transaction, the director now owns 38,859 shares of the company’s stock, valued at approximately $633,790.29. The disclosure for this sale can be found here. Insiders sold 5,848,537 shares of company stock worth $91,938,722 over the last three months. Company insiders own 26.55% of the company’s stock.

Institutional Trading of Warby Parker

A number of large investors have recently bought and sold shares of WRBY. Strs Ohio bought a new stake in shares of Warby Parker during the 4th quarter valued at about $40,000. Advisors Asset Management Inc. grew its position in shares of Warby Parker by 79.9% during the 1st quarter. Advisors Asset Management Inc. now owns 5,125 shares of the company’s stock worth $70,000 after buying an additional 2,276 shares during the period. Levin Capital Strategies L.P. bought a new stake in shares of Warby Parker in the 4th quarter valued at $141,000. Sciencast Management LP acquired a new position in shares of Warby Parker during the 1st quarter valued at $145,000. Finally, Principal Financial Group Inc. bought a new position in Warby Parker during the first quarter worth $158,000. 93.24% of the stock is currently owned by institutional investors and hedge funds.

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.