In a report released today, Zachary Fadem from Wells Fargo maintained a Buy rating on National Vision Holdings Inc (EYE), with a price target of $48. The company’s shares opened today at $41.09.
Fadem noted:
“We view EYE’s Q3 update as threefold, featuring: 1) The Good: EYE printed a very solid Q3 with sales/comps +240bps/+100bps vs. our model; 2) The Noisy: EYE reported an unexpected uptick in 2H operating costs, driving a FY18 profit guide down; and 3) The Intriguing: EYE expanded its contact lens distribution agreement with WMT, which represents the first expansion of the relationship since 2013. We believe today’s -3.3% share reaction (vs. flat SPX) is largely the result of #2 (The Noisy), which we tend to view more transitory. Our Outperform view on EYE has been predicated on EYE’s comp stability (Q3 was EYE’s 67th quarter of positive comps), white space opportunities (particularly in denser NY/CA markets), and call option on the potential to expand the relationship with WMT.”
According to TipRanks.com, Fadem is a 4-star analyst with an average return of 8.9% and a 61.6% success rate. Fadem covers the Services sector, focusing on stocks such as Floor & Decor Holdings Inc, Advance Auto Parts, and Michaels Companies.
Currently, the analyst consensus on National Vision Holdings Inc is a Strong Buy with an average price target of $49.40.
See today’s analyst top recommended stocks >>
The company has a one-year high of $46.63 and a one-year low of $29.51. Currently, National Vision Holdings Inc has an average volume of 482K.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
National Vision Holdings, Inc. engages in optical retail. It specializes in eye care and eyewear. It operates through Owned and Host, and Legacy segment. The Owned and Host segment includes two brands, America’s Best and Eyeglass World, and Vista Optical locations in Fred Meyer stores.
