Warby Parker (NYSE:WRBY) Rating Lowered to “Hold” at Wall Street Zen

by · The Markets Daily

Warby Parker (NYSE:WRBY – Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Sunday.

Other equities research analysts have also issued reports about the stock. BTIG Research reaffirmed a “buy” rating and set a $28.00 price objective (up from $24.00) on shares of Warby Parker in a report on Thursday, August 7th. Robert W. Baird set a $30.00 price objective on shares of Warby Parker and gave the company an “outperform” rating in a report on Wednesday, July 30th. Stifel Nicolaus increased their price objective on shares of Warby Parker from $21.00 to $22.00 and gave the company a “hold” rating in a report on Friday, August 8th. Loop Capital reaffirmed a “buy” rating on shares of Warby Parker in a report on Wednesday, May 21st. Finally, Zacks Research raised shares of Warby Parker from a “strong sell” rating to a “hold” rating in a report on Thursday, September 4th. Eleven investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.06.

Get Our Latest Report on WRBY

Warby Parker Stock Up 2.8%

NYSE:WRBY opened at $26.74 on Friday. The business’s 50-day simple moving average is $24.50 and its two-hundred day simple moving average is $21.00. The stock has a market cap of $2.81 billion, a PE ratio of -382.00 and a beta of 2.10. Warby Parker has a 52 week low of $13.22 and a 52 week high of $29.73.

Insiders Place Their Bets

In related news, Director Teresa Briggs sold 6,000 shares of the firm’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $23.56, for a total value of $141,360.00. Following the completion of the transaction, the director directly owned 44,879 shares of the company’s stock, valued at approximately $1,057,349.24. This trade represents a 11.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Neil Harris Blumenthal sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $25.11, for a total value of $1,255,500.00. Following the sale, the chief executive officer directly owned 28,347 shares in the company, valued at $711,793.17. The trade was a 63.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 106,000 shares of company stock valued at $2,607,280. 18.24% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Warby Parker

Large investors have recently added to or reduced their stakes in the stock. New York State Teachers Retirement System bought a new stake in Warby Parker during the first quarter worth approximately $27,000. PNC Financial Services Group Inc. boosted its stake in Warby Parker by 400.3% during the second quarter. PNC Financial Services Group Inc. now owns 1,601 shares of the company’s stock worth $35,000 after buying an additional 1,281 shares during the period. Huntington National Bank boosted its stake in Warby Parker by 111.0% during the second quarter. Huntington National Bank now owns 1,675 shares of the company’s stock worth $37,000 after buying an additional 881 shares during the period. Comerica Bank boosted its stake in Warby Parker by 153.1% during the fourth quarter. Comerica Bank now owns 2,291 shares of the company’s stock worth $55,000 after buying an additional 1,386 shares during the period. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Warby Parker during the first quarter worth $58,000. 93.24% of the stock is owned by institutional investors.

Warby Parker Company Profile

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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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