Roth Capital Upgrades Warby Parker (NYSE:WRBY) to “Strong-Buy”

Warby Parker (NYSE:WRBY) was upgraded by Roth Capital to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

WRBY has been the subject of a number of other reports. Citigroup reiterated a “sell” rating and issued a $23.00 price target (up from $19.00) on shares of Warby Parker in a research report on Wednesday, February 5th. BTIG Research upped their price target on shares of Warby Parker from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Robert W. Baird upped their price target on shares of Warby Parker from $18.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Evercore ISI reiterated an “in-line” rating and issued a $23.00 price target on shares of Warby Parker in a research report on Friday, January 17th. Finally, William Blair upgraded shares of Warby Parker from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Warby Parker presently has an average rating of “Moderate Buy” and an average price target of $22.21.

Warby Parker Price Performance

WRBY opened at $22.73 on Monday. The firm has a market cap of $2.31 billion, a P/E ratio of -84.19 and a beta of 1.90. Warby Parker has a 1-year low of $11.35 and a 1-year high of $28.68. The company has a 50 day simple moving average of $25.62 and a two-hundred day simple moving average of $20.50.

Insider Buying and Selling

In related news, CFO Steven Clive Miller sold 14,853 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $22.61, for a total transaction of $335,826.33. Following the sale, the chief financial officer now owns 189,146 shares of the company’s stock, valued at $4,276,591.06. This represents a 7.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Neil Harris Blumenthal sold 300,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $25.14, for a total transaction of $7,542,000.00. Following the sale, the chief executive officer now directly owns 12,177 shares in the company, valued at approximately $306,129.78. The trade was a 96.10 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 608,032 shares of company stock worth $15,188,364. 26.55% of the stock is owned by insiders.

Institutional Investors Weigh In On Warby Parker

A number of hedge funds have recently bought and sold shares of the business. Castleark Management LLC purchased a new stake in shares of Warby Parker in the fourth quarter valued at $4,294,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Warby Parker by 11.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 218,625 shares of the company’s stock valued at $5,293,000 after acquiring an additional 22,853 shares during the period. Two Sigma Advisers LP raised its stake in shares of Warby Parker by 512.8% in the fourth quarter. Two Sigma Advisers LP now owns 124,400 shares of the company’s stock valued at $3,012,000 after acquiring an additional 104,100 shares during the period. Two Sigma Investments LP raised its stake in shares of Warby Parker by 72.5% in the fourth quarter. Two Sigma Investments LP now owns 242,582 shares of the company’s stock valued at $5,873,000 after acquiring an additional 101,986 shares during the period. Finally, OMERS ADMINISTRATION Corp raised its stake in shares of Warby Parker by 107.4% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 22,400 shares of the company’s stock valued at $542,000 after acquiring an additional 11,600 shares during the period. Hedge funds and other institutional investors own 93.24% of the company’s stock.

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.