Warby Parker (NYSE:WRBY) Upgraded by Deutsche Bank Aktiengesellschaft to “Buy”

by · The Markets Daily

Warby Parker (NYSE:WRBY – Get Free Report) was upgraded by Deutsche Bank Aktiengesellschaft from a “neutral” rating to a “buy” rating in a research note issued on Monday, Benzinga reports. The firm currently has a $18.00 price objective on the stock, up from their previous price objective of $15.00. Deutsche Bank Aktiengesellschaft’s price target would indicate a potential upside of 8.76% from the company’s previous close.

Other equities analysts also recently issued reports about the company. Stifel Nicolaus lifted their target price on Warby Parker from $14.00 to $15.00 and gave the company a “hold” rating in a research report on Friday, August 9th. JMP Securities raised Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 target price for the company in a research report on Friday, August 23rd. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $19.00 target price on shares of Warby Parker in a research report on Thursday, August 8th. Piper Sandler initiated coverage on Warby Parker in a research report on Friday, August 23rd. They issued an “overweight” rating and a $18.00 target price for the company. Finally, Loop Capital lifted their target price on Warby Parker from $15.00 to $16.00 and gave the company a “hold” rating in a research report on Wednesday, July 10th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $16.88.

View Our Latest Stock Report on Warby Parker

Warby Parker Trading Up 2.5 %

Shares of WRBY opened at $16.55 on Monday. The firm has a market cap of $1.67 billion, a P/E ratio of -42.44 and a beta of 1.82. Warby Parker has a 12-month low of $9.83 and a 12-month high of $17.95. The company’s 50-day moving average price is $14.87 and its 200 day moving average price is $15.06.

Warby Parker (NYSE:WRBY – Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.01. The firm had revenue of $188.22 million for the quarter, compared to analyst estimates of $186.89 million. Warby Parker had a negative net margin of 6.38% and a negative return on equity of 11.09%. Equities research analysts forecast that Warby Parker will post -0.04 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Steven Clive Miller sold 6,763 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $13.90, for a total transaction of $94,005.70. Following the completion of the sale, the chief financial officer now owns 177,488 shares in the company, valued at $2,467,083.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Warby Parker news, CEO Neil Harris Blumenthal sold 27,143 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $13.00, for a total value of $352,859.00. Following the completion of the sale, the chief executive officer now owns 12,177 shares in the company, valued at approximately $158,301. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Steven Clive Miller sold 6,763 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $13.90, for a total value of $94,005.70. Following the completion of the sale, the chief financial officer now owns 177,488 shares of the company’s stock, valued at approximately $2,467,083.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 99,178 shares of company stock worth $1,339,901 over the last 90 days. 26.55% of the stock is owned by insiders.

Institutional Investors Weigh In On Warby Parker

Large investors have recently modified their holdings of the stock. Advisors Asset Management Inc. raised its stake in shares of Warby Parker by 79.9% during the first quarter. Advisors Asset Management Inc. now owns 5,125 shares of the company’s stock worth $70,000 after purchasing an additional 2,276 shares during the last quarter. First Eagle Investment Management LLC purchased a new stake in shares of Warby Parker during the second quarter worth approximately $131,000. Sciencast Management LP purchased a new stake in shares of Warby Parker during the first quarter worth approximately $145,000. Principal Financial Group Inc. purchased a new stake in shares of Warby Parker during the first quarter worth approximately $158,000. Finally, Choreo LLC purchased a new stake in shares of Warby Parker during the second quarter worth approximately $167,000. Hedge funds and other institutional investors own 93.24% of the company’s stock.

About Warby Parker

(Get Free Report)

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.

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