National Vision Stock Off After Bank of America Double Downgrade – TheStreet

National Vision  (EYE) – Get National Vision Holdings, Inc. Report shares fell on Friday after Bank of America doubled downgraded the optical retailer to underperform from buy and slashed its price target to $50 from $63.
Analyst Robert Ohmes acted “given headwinds that could pressure sales and EYE's valuation near-term,” he wrote. That includes:
National Vision shares recently traded at $51.58, down 2.9%. They've traded on Friday off as much as 5.9% at $50.01. They've come off a 52-week high $65.92, set on Nov. 5.
The Duluth, Ga., company reported third-quarter earnings on Wednesday. Net income totaled $41 million, or 45 cents a share, up from $35.3 million, or 42 cents, in the year-earlier quarter. The FactSet analyst consensus called for 21 cents in the latest quarter.
Net revenue jumped 20% to $518 million from $485 million a year earlier. Analysts forecast $512.3 million for the latest quarter.
For fiscal 2021 the company estimates adjusted profit at $1.28 to $1.33 a share, compared with the FactSet consensus estimate of $1.32 a share. It pegs revenue at $2.04 billion to $2.06 billion against the estimate of $2.06 billion.
Meanwhile, Warby Parker  (WRBY) – Get Warby Parker Report shares climbed Friday after the online eyewear retailer posted a wider-than-expected third-quarter loss but beat Wall Street's sales estimates.
Dan is a freelance writer whose work has appeared in The Wall Street Journal, Barron’s, Institutional Investor, The Washington Post and other publications.