National Vision (NASDAQ:EYE) Rating Lowered to "Hold" at Wall Street Zen

Key Points

• National Vision (NASDAQ:EYE) was downgraded from a "buy" to a "hold" rating by Wall Street Zen in a report released over the weekend.
• Goldman Sachs raised their price target for National Vision from $13.00 to $17.00, maintaining a "neutral" rating on the stock.
• National Vision's quarterly earnings surpassed analysts' expectations, reporting $0.34 earnings per share and $510.32 million in revenue, marking a 5.7% increase year-over-year.

Wall Street Zen cut shares of National Vision (NASDAQ:EYE - Free Report) from a buy rating to a hold rating in a research report report published on Saturday.

EYE has been the subject of several other reports. Bank of America boosted their target price on National Vision from $22.00 to $26.00 and gave the stock a "buy" rating in a research report on Wednesday, June 18th. BMO Capital Markets set a $19.00 target price on National Vision and gave the stock a "market perform" rating in a research report on Monday, May 19th. Wells Fargo & Company increased their price target on National Vision from $15.00 to $24.00 and gave the stock an "equal weight" rating in a report on Wednesday. The Goldman Sachs Group increased their price target on National Vision from $13.00 to $17.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Finally, National Bankshares set a $30.00 price target on National Vision in a report on Tuesday, July 8th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $23.00.

National Vision Price Performance

EYE traded down $0.32 during trading on Friday, hitting $25.02. The company's stock had a trading volume of 1,390,162 shares, compared to its average volume of 2,016,429. The firm's 50 day moving average price is $22.51 and its two-hundred day moving average price is $15.88. The company has a quick ratio of 0.35, a current ratio of 0.54 and a debt-to-equity ratio of 0.29. National Vision has a 12 month low of $9.56 and a 12 month high of $25.67. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of 69.50, a price-to-earnings-growth ratio of 3.67 and a beta of 1.27.

National Vision (NASDAQ:EYE - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.02. National Vision had a negative net margin of 1.40% and a positive return on equity of 3.44%. The company had revenue of $510.32 million for the quarter, compared to analyst estimates of $510.30 million. During the same period in the prior year, the business earned $0.32 earnings per share. National Vision's quarterly revenue was up 5.7% on a year-over-year basis. Sell-side analysts forecast that National Vision will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling at National Vision

In other news, SVP Ravi Acharya sold 12,000 shares of National Vision stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $18.75, for a total transaction of $225,000.00. Following the completion of the sale, the senior vice president directly owned 11,700 shares in the company, valued at approximately $219,375. This trade represents a 50.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.70% of the company's stock.

Institutional Investors Weigh In On National Vision

A number of hedge funds have recently made changes to their positions in the stock. Burgundy Asset Management Ltd. increased its stake in shares of National Vision by 138.6% in the fourth quarter. Burgundy Asset Management Ltd. now owns 4,675,539 shares of the company's stock worth $48,719,000 after acquiring an additional 2,715,582 shares during the period. Engine Capital Management LP raised its holdings in shares of National Vision by 127.5% during the fourth quarter. Engine Capital Management LP now owns 2,528,053 shares of the company's stock valued at $26,342,000 after acquiring an additional 1,417,002 shares during the last quarter. SG Capital Management LLC purchased a new position in shares of National Vision in the fourth quarter valued at approximately $11,827,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of National Vision by 81.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,308,375 shares of the company's stock worth $24,053,000 after acquiring an additional 1,036,459 shares during the last quarter. Finally, Federated Hermes Inc. increased its position in shares of National Vision by 215.0% during the first quarter. Federated Hermes Inc. now owns 861,527 shares of the company's stock worth $11,010,000 after purchasing an additional 588,022 shares in the last quarter.

About National Vision

National Vision Holdings, Inc, through its subsidiaries, operates as an optical retailer in the United States. The company operates in two segments, Owned & Host and Legacy. It offers eyeglasses and contact lenses, and optical accessory products; provides eye exams through its America's Best, Eyeglass World, Vista Optical, Fred Meyer, and Vista Optical military, as well as Vision Center branded stores; and offers health maintenance organization and optometric services.