Wells Fargo Sticks to Its Buy Rating for National Vision Holdings Inc (EYE)

Wells Fargo analyst Zachary Fadem maintained a Buy rating on National Vision Holdings Inc (EYEResearch Report) today and set a price target of $37. The company’s shares opened today at $29.79.

Fadem noted:

“We views EYE’s reiterated FY19 outlook as very achievable, with some conservatism both above the line (we model +5.6% comps vs +3-5% guide) and below (interest expense now $2M lower). While Q2 results were not perfect, we remain constructive on EYE’s strong customer value proposition, relatively low tariff exposure, recession- resistant model (70 consecutive quarters of positive comps), and ample LT growth levers (new store openings, share gains, existing store maturity). Reiterate Outperform.”

According to TipRanks.com, Fadem is a 5-star analyst with an average return of 10.2% and a 67.6% success rate. Fadem covers the Services sector, focusing on stocks such as Floor & Decor Holdings Inc, Advance Auto Parts, and Michaels Companies.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for National Vision Holdings Inc with a $35.17 average price target.

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The company has a one-year high of $46.63 and a one-year low of $25.60. Currently, National Vision Holdings Inc has an average volume of 770.7K.

Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is negative on the stock.

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National Vision Holdings, Inc. engages in optical retail. 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.