Bank of America Securities analyst Robert Ohmes reiterated a Buy rating on National Vision Holdings yesterday and set a price target of $30.00.
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Robert Ohmes has given his Buy rating due to a combination of factors that highlight National Vision Holdings’ strong performance and strategic initiatives. The company reported better-than-expected earnings per share for the second quarter, driven by an increase in average ticket size and effective pricing strategies. This growth is supported by the expansion of their higher-priced frame assortment, which is expected to reach significant penetration by the year’s end.
Additionally, the company’s gross margin has improved due to pricing and product mix initiatives, as well as cost efficiencies related to optometrist services. Looking forward, the launch of the “Every Eye Deserves Better” campaign and the introduction of new brands are expected to attract higher-income customers. These efforts, along with the rollout of a customer relationship management system, are anticipated to drive further sales and earnings growth, justifying the Buy rating and a price objective of $30.
In another report released today, Barclays also maintained a Buy rating on the stock with a $28.00 price target.
EYE’s price has also changed dramatically for the past six months – from $11.680 to $23.880, which is a 104.45% increase.