Warby Parker (NYSE:WRBY) Stock Rating Upgraded by Zacks Investment Research

Warby Parker (NYSE:WRBYGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday, Zacks.com reports. The firm currently has a $18.00 price objective on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 7.91% from the company’s previous close.

According to Zacks, “Warby Parker Inc. is a direct-to-consumer eyewear brand. Warby Parker Inc. is based in NEW YORK. “

Other analysts have also recently issued reports about the stock. Morgan Stanley lowered their target price on shares of Warby Parker from $57.00 to $24.00 in a research note on Friday, March 18th. Loop Capital reduced their price target on shares of Warby Parker from $52.00 to $27.00 in a research report on Friday, March 18th. Stifel Nicolaus assumed coverage on shares of Warby Parker in a research note on Wednesday, March 30th. They issued a “hold” rating and a $36.00 target price on the stock. Robert W. Baird reduced their price target on shares of Warby Parker from $40.00 to $30.00 and set a “na” rating for the company in a report on Tuesday, May 17th. Finally, Cowen reduced their price target on shares of Warby Parker to $23.00 and set a “na” rating for the company in a report on Tuesday, May 17th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $30.91.

Shares of NYSE:WRBY traded up $0.88 on Wednesday, reaching $16.68. The company had a trading volume of 67,046 shares, compared to its average volume of 1,904,115. Warby Parker has a 52-week low of $15.02 and a 52-week high of $60.30. The firm’s 50 day simple moving average is $25.97 and its 200-day simple moving average is $35.06.

Warby Parker (NYSE:WRBYGet Rating) last posted its quarterly earnings data on Monday, May 16th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.29). The business had revenue of $153.20 million during the quarter, compared to the consensus estimate of $154.08 million. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. Research analysts predict that Warby Parker will post -0.01 EPS for the current year.

In other news, CEO David Abraham Gilboa sold 5,354 shares of Warby Parker stock in a transaction that occurred on Thursday, March 10th. The shares were sold at an average price of $25.00, for a total transaction of $133,850.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Steven Clive Miller sold 5,767 shares of Warby Parker stock in a transaction that occurred on Thursday, March 10th. The stock was sold at an average price of $25.00, for a total transaction of $144,175.00. The disclosure for this sale can be found here. Insiders have sold a total of 30,446 shares of company stock valued at $857,968 over the last three months.

Institutional investors and hedge funds have recently modified their holdings of the stock. Trustcore Financial Services LLC acquired a new position in shares of Warby Parker in the first quarter valued at $45,000. Wolff Wiese Magana LLC acquired a new position in shares of Warby Parker in the fourth quarter valued at about $67,000. Delta Asset Management LLC TN acquired a new position in shares of Warby Parker in the fourth quarter valued at about $69,000. Evoke Wealth LLC acquired a new position in shares of Warby Parker in the fourth quarter valued at about $88,000. Finally, Advisor Group Holdings Inc. grew its stake in shares of Warby Parker by 542.0% in the fourth quarter. Advisor Group Holdings Inc. now owns 2,478 shares of the company’s stock valued at $115,000 after acquiring an additional 2,092 shares in the last quarter. Institutional investors and hedge funds own 98.59% of the company’s stock.

About Warby Parker (Get Rating)

Warby Parker Inc provides eyewear products. It offers eyeglasses, sunglasses, light-responsive lenses, blue-light-filtering lenses, and contact lenses, as well as accessories, including cases, lenses kit with anti-fog spray, pouches, and anti-fog lens spray. The company also offers eye exams and vision tests directly to consumers through its retail stores, website, and mobile apps.

See Also

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Analyst Recommendations for Warby Parker (NYSE:WRBY)

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