Brokerages Set Warby Parker Inc. (NYSE:WRBY) PT at $24.53

Shares of Warby Parker Inc. (NYSE:WRBY) have been assigned a consensus recommendation of “Hold” from the nineteen ratings firms that are currently covering the stock, MarketBeat.com reports. Ten analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $24.5333.

Several brokerages have weighed in on WRBY. Wall Street Zen cut Warby Parker from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. BTIG Research lowered their price target on shares of Warby Parker from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. Telsey Advisory Group restated an “outperform” rating and issued a $24.00 price objective on shares of Warby Parker in a report on Tuesday, November 18th. Zacks Research raised shares of Warby Parker from a “strong sell” rating to a “hold” rating in a research note on Thursday, September 4th. Finally, UBS Group lowered their target price on shares of Warby Parker from $23.00 to $20.00 and set a “neutral” rating for the company in a report on Friday, November 7th.

Warby Parker Stock Performance

Shares of WRBY opened at $18.79 on Wednesday. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of 1,879.00 and a beta of 2.06. The business’s fifty day moving average price is $20.65 and its two-hundred day moving average price is $22.79. Warby Parker has a 52 week low of $13.63 and a 52 week high of $29.73.

Warby Parker (NYSE:WRBY) last released its earnings results on Thursday, November 6th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). Warby Parker had a return on equity of 1.96% and a net margin of 0.08%.The firm had revenue of $221.68 million for the quarter, compared to the consensus estimate of $224.49 million. During the same quarter in the previous year, the firm earned ($0.03) EPS. The company’s revenue was up 15.2% compared to the same quarter last year. As a group, research analysts forecast that Warby Parker will post -0.12 EPS for the current year.

Insiders Place Their Bets

In related news, Director Joel E. Cutler sold 35,000 shares of the company’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $26.75, for a total value of $936,250.00. Following the completion of the sale, the director owned 19,932 shares in the company, valued at approximately $533,181. This represents a 63.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Neil Harris Blumenthal sold 8,416 shares of the stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $27.52, for a total value of $231,608.32. Following the completion of the transaction, the chief executive officer directly owned 32,733 shares in the company, valued at $900,812.16. The trade was a 20.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 85,000 shares of company stock valued at $2,312,661. 18.24% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Farther Finance Advisors LLC increased its stake in Warby Parker by 259.3% in the third quarter. Farther Finance Advisors LLC now owns 1,193 shares of the company’s stock valued at $33,000 after purchasing an additional 861 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Warby Parker by 400.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,601 shares of the company’s stock valued at $35,000 after buying an additional 1,281 shares during the period. Huntington National Bank increased its position in shares of Warby Parker by 111.0% in the 2nd quarter. Huntington National Bank now owns 1,675 shares of the company’s stock valued at $37,000 after buying an additional 881 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Warby Parker in the 1st quarter valued at $58,000. Finally, NewEdge Advisors LLC raised its stake in Warby Parker by 56.7% during the 3rd quarter. NewEdge Advisors LLC now owns 2,350 shares of the company’s stock worth $65,000 after buying an additional 850 shares during the period. 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.