Warby Parker (NYSE:WRBY) Rating Increased to Strong-Buy at Roth Capital

Roth Capital upgraded shares of Warby Parker (NYSE:WRBY) to a strong-buy rating in a research note issued to investors on Monday morning,Zacks.com reports.

Other research analysts have also issued research reports about the stock. Morgan Stanley increased their target price on shares of Warby Parker from $17.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. JMP Securities upped their price target on shares of Warby Parker from $23.00 to $28.00 and gave the stock a “market outperform” rating in a report on Monday, December 16th. 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 report on Friday, November 8th. Citigroup reaffirmed a “sell” rating and set a $23.00 price target (up previously from $19.00) on shares of Warby Parker in a report on Wednesday, February 5th. Finally, William Blair raised shares of Warby Parker from a “market perform” rating to an “outperform” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Warby Parker currently has an average rating of “Moderate Buy” and a consensus target price of $22.21.

Warby Parker Stock Down 2.3 %

Shares of NYSE:WRBY opened at $22.73 on Monday. The company’s 50 day moving average price is $25.62 and its two-hundred day moving average price is $20.50. Warby Parker has a 12-month low of $11.35 and a 12-month high of $28.68. The firm has a market cap of $2.31 billion, a PE ratio of -84.19 and a beta of 1.90.

Insider Activity at Warby Parker

In related news, CFO Steven Clive Miller sold 14,853 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $22.61, for a total value of $335,826.33. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Neil Harris Blumenthal sold 36,163 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $22.61, for a total transaction of $817,645.43. Following the completion of the transaction, the chief executive officer now owns 12,177 shares of the company’s stock, valued at approximately $275,321.97. This trade represents a 74.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 608,032 shares of company stock valued at $15,188,364 in the last quarter. Insiders own 26.55% of the company’s stock.

Hedge Funds Weigh In On Warby Parker

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp increased its position in Warby Parker by 3.2% in the 3rd quarter. State Street Corp now owns 2,209,025 shares of the company’s stock valued at $36,073,000 after acquiring an additional 69,108 shares during the period. Blueshift Asset Management LLC acquired a new position in Warby Parker in the 3rd quarter valued at approximately $1,223,000. TimesSquare Capital Management LLC increased its position in Warby Parker by 12.8% in the 3rd quarter. TimesSquare Capital Management LLC now owns 1,856,370 shares of the company’s stock valued at $30,315,000 after acquiring an additional 211,050 shares during the period. Vaughan Nelson Investment Management L.P. increased its position in Warby Parker by 3.2% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,555,705 shares of the company’s stock valued at $41,735,000 after acquiring an additional 78,295 shares during the period. Finally, Loomis Sayles & Co. L P increased its position in Warby Parker by 20.3% in the 3rd quarter. Loomis Sayles & Co. L P now owns 1,782,629 shares of the company’s stock valued at $29,111,000 after acquiring an additional 300,891 shares during the period. 93.24% of the stock is currently owned by institutional investors and hedge funds.

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.