National Vision (NASDAQ:EYE) Shares Gap Up Following Earnings Beat

National Vision Holdings, Inc. (NASDAQ:EYE - Get Free Report)'s stock price gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $13.33, but opened at $14.95. National Vision shares last traded at $15.04, with a volume of 1,336,691 shares.

The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.02. National Vision had a positive return on equity of 3.52% and a negative net margin of 0.81%. The business had revenue of $510.32 million during the quarter, compared to analyst estimates of $510.30 million. During the same period in the previous year, the firm earned $0.32 EPS. National Vision's quarterly revenue was up 5.7% compared to the same quarter last year.

Analysts Set New Price Targets

A number of research firms recently issued reports on EYE. Morgan Stanley decreased their price objective on National Vision from $14.00 to $13.00 and set an "equal weight" rating for the company in a report on Tuesday, January 21st. Wells Fargo & Company lifted their price target on shares of National Vision from $12.00 to $13.00 and gave the company an "equal weight" rating in a research note on Thursday, February 27th. Citigroup boosted their price target on shares of National Vision from $12.00 to $13.00 and gave the stock a "neutral" rating in a research report on Friday, March 7th. Finally, Barclays raised their price objective on National Vision from $12.00 to $14.00 and gave the company an "equal weight" rating in a report on Monday, March 3rd. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $14.00.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in EYE. Wakefield Asset Management LLLP bought a new position in National Vision during the first quarter worth $1,114,000. Legato Capital Management LLC acquired a new stake in National Vision during the first quarter worth approximately $743,000. Jackson Creek Investment Advisors LLC bought a new position in National Vision during the 1st quarter worth $1,500,000. Fortis Group Advisors LLC acquired a new position in National Vision in the 1st quarter valued at $533,000. Finally, Victory Capital Management Inc. increased its position in shares of National Vision by 2.0% in the first quarter. Victory Capital Management Inc. now owns 79,823 shares of the company's stock worth $1,020,000 after purchasing an additional 1,579 shares during the period.

National Vision Price Performance

The firm has a market capitalization of $1.20 billion, a P/E ratio of -75.47, a PEG ratio of 3.27 and a beta of 1.02. The company has a quick ratio of 0.37, a current ratio of 0.57 and a debt-to-equity ratio of 0.30. The business's 50 day moving average is $12.19 and its 200-day moving average is $11.59.

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.

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