Warby Parker Inc. (NYSE:WRBY) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Warby Parker Inc. (NYSE:WRBY) have been given a consensus recommendation of “Moderate Buy” by the ten ratings firms that are presently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $16.67.

Several research firms have weighed in on WRBY. BTIG Research upgraded shares of Warby Parker from a “neutral” rating to a “buy” rating and set a $17.00 price target on the stock in a research report on Thursday, October 12th. UBS Group started coverage on Warby Parker in a report on Monday, September 25th. They issued a “neutral” rating and a $13.00 target price on the stock. Telsey Advisory Group reissued an “outperform” rating and set a $19.00 price target on shares of Warby Parker in a report on Thursday, August 10th. Citigroup upped their price target on Warby Parker from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Friday, August 11th. Finally, Evercore ISI raised Warby Parker from an “in-line” rating to an “outperform” rating and set a $20.00 price objective on the stock in a research report on Tuesday, October 3rd.

Insider Activity at Warby Parker

In related news, CEO Neil Harris Blumenthal sold 5,016 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $11.92, for a total value of $59,790.72. Following the transaction, the chief executive officer now directly owns 106 shares of the company’s stock, valued at approximately $1,263.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Warby Parker news, CFO Steven Clive Miller sold 7,607 shares of the stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $11.92, for a total transaction of $90,675.44. Following the completion of the transaction, the chief financial officer now owns 187,252 shares of the company’s stock, valued at approximately $2,232,043.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Neil Harris Blumenthal sold 5,016 shares of Warby Parker stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $11.92, for a total value of $59,790.72. Following the completion of the sale, the chief executive officer now directly owns 106 shares in the company, valued at $1,263.52. The disclosure for this sale can be found here. 26.91% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Warby Parker

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quarry LP raised its holdings in shares of Warby Parker by 1,434.1% during the 1st quarter. Quarry LP now owns 3,421 shares of the company’s stock worth $36,000 after acquiring an additional 3,198 shares in the last quarter. Point72 Middle East FZE bought a new stake in Warby Parker in the fourth quarter worth $37,000. Cary Street Partners Investment Advisory LLC raised its stake in Warby Parker by 137,633.3% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 4,132 shares of the company’s stock valued at $54,000 after purchasing an additional 4,129 shares in the last quarter. Aquire Wealth Advisors LLC bought a new position in Warby Parker during the first quarter valued at $85,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Warby Parker in the 2nd quarter worth $88,000. 93.24% of the stock is owned by institutional investors.

Warby Parker Stock Down 0.3 %

Shares of NYSE:WRBY opened at $10.96 on Tuesday. The stock has a market capitalization of $1.07 billion, a PE ratio of -19.56 and a beta of 1.83. The firm’s 50 day moving average price is $12.85 and its 200-day moving average price is $12.60. Warby Parker has a twelve month low of $9.50 and a twelve month high of $18.67.

About Warby Parker

Warby Parker Inc provides eyewear products. The company offers eyeglasses, sunglasses, light-responsive lenses, blue-light-filtering 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.