Roth Capital Upgrades Warby Parker (NYSE:WRBY) to “Strong-Buy”

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

Other equities research analysts have also recently issued reports about the stock. Morgan Stanley raised their price target on shares of Warby Parker from $17.00 to $23.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Piper Sandler lifted their price objective on shares of Warby Parker from $18.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Roth Mkm started coverage on shares of Warby Parker in a research note on Tuesday. They issued a “neutral” rating and a $26.00 target price for the company. The Goldman Sachs Group lifted their target price on shares of Warby Parker from $20.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $28.00 target price on shares of Warby Parker in a research note on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.21.

Warby Parker Stock Down 2.3 %

WRBY opened at $22.73 on Monday. Warby Parker has a twelve month low of $11.35 and a twelve month high of $28.68. The company has a fifty day moving average of $25.62 and a 200-day moving average of $20.50. The stock has a market cap of $2.31 billion, a PE ratio of -84.19 and a beta of 1.90.

Insider Transactions at Warby Parker

In other news, CEO Neil Harris Blumenthal sold 300,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $25.14, for a total value of $7,542,000.00. Following the completion of the sale, the chief executive officer now directly owns 12,177 shares in the company, valued at approximately $306,129.78. The trade was a 96.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Steven Clive Miller sold 7,016 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $23.85, for a total transaction of $167,331.60. Following the completion of the sale, the chief financial officer now owns 182,130 shares of the company’s stock, valued at approximately $4,343,800.50. The trade was a 3.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 608,032 shares of company stock worth $15,188,364. 26.55% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Warby Parker

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WRBY. Janney Montgomery Scott LLC raised its holdings in Warby Parker by 3.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 47,908 shares of the company’s stock valued at $782,000 after buying an additional 1,556 shares during the last quarter. AIA Group Ltd raised its holdings in Warby Parker by 12.2% during the 3rd quarter. AIA Group Ltd now owns 182,573 shares of the company’s stock valued at $2,981,000 after buying an additional 19,923 shares during the last quarter. TimesSquare Capital Management LLC raised its holdings in Warby Parker by 12.8% during the 3rd quarter. TimesSquare Capital Management LLC now owns 1,856,370 shares of the company’s stock valued at $30,315,000 after buying an additional 211,050 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in Warby Parker during the 3rd quarter valued at $372,000. Finally, Natixis Advisors LLC raised its holdings in Warby Parker by 4.7% during the 3rd quarter. Natixis Advisors LLC now owns 466,413 shares of the company’s stock valued at $7,617,000 after buying an additional 21,121 shares during the last quarter. 93.24% of the stock is currently owned by institutional investors.

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.