National Vision (NASDAQ:EYE) Reaches New 52-Week Low on Analyst Downgrade

National Vision Holdings, Inc. (NASDAQ:EYE)’s share price hit a new 52-week low during mid-day trading on Thursday after The Goldman Sachs Group lowered their price target on the stock from $20.00 to $13.00. The Goldman Sachs Group currently has a neutral rating on the stock. National Vision traded as low as $10.71 and last traded at $10.82, with a volume of 103719 shares. The stock had previously closed at $10.93.

Other equities analysts have also issued reports about the stock. UBS Group cut their price objective on shares of National Vision from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday. Barclays decreased their price objective on National Vision from $16.00 to $11.00 and set an “equal weight” rating for the company in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $15.25.

Insiders Place Their Bets

In other National Vision news, CEO L Reade Fahs purchased 20,000 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was bought at an average cost of $14.96 per share, for a total transaction of $299,200.00. Following the completion of the purchase, the chief executive officer now owns 633,097 shares in the company, valued at approximately $9,471,131.12. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On National Vision

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC increased its holdings in National Vision by 15.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 533,316 shares of the company’s stock worth $11,162,000 after buying an additional 72,318 shares during the period. Louisiana State Employees Retirement System acquired a new position in National Vision during the fourth quarter valued at $818,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in National Vision by 27.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,479 shares of the company’s stock valued at $408,000 after purchasing an additional 4,153 shares during the last quarter. Federated Hermes Inc. acquired a new stake in National Vision during the 4th quarter worth about $2,981,000. Finally, Handelsbanken Fonder AB raised its stake in shares of National Vision by 4.0% during the 4th quarter. Handelsbanken Fonder AB now owns 15,600 shares of the company’s stock valued at $327,000 after buying an additional 600 shares during the last quarter.

National Vision Stock Down 6.0 %

The business has a 50 day moving average price of $13.37 and a 200 day moving average price of $17.38. The company has a quick ratio of 0.69, a current ratio of 1.01 and a debt-to-equity ratio of 0.53. The stock has a market cap of $807.61 million, a PE ratio of -11.29, a P/E/G ratio of 2.87 and a beta of 1.44.

National Vision (NASDAQ:EYE) last posted its earnings results on Wednesday, May 8th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.05. The firm had revenue of $542.52 million during the quarter, compared to analysts’ expectations of $557.47 million. National Vision had a negative net margin of 3.44% and a positive return on equity of 3.47%. Equities research analysts expect that National Vision Holdings, Inc. will post 0.34 EPS for the current fiscal year.

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.