Stitch Fix (NASDAQ:SFIX) had its price target lifted by stock analysts at Wells Fargo & Co from $22.00 to $30.00 in a report issued on Wednesday, The Fly reports. The brokerage presently has a “market perform” rating on the stock. Wells Fargo & Co‘s price target would suggest a potential downside of 5.15% from the company’s previous close.
Other analysts also recently issued research reports about the company. Zacks Investment Research upgraded Stitch Fix from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research note on Wednesday, January 9th. Barclays lowered their target price on Stitch Fix from $33.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 11th. ValuEngine downgraded Stitch Fix from a “buy” rating to a “hold” rating in a research note on Monday, November 26th. Stifel Nicolaus lowered their target price on Stitch Fix from $30.00 to $28.00 and set a “hold” rating on the stock in a research note on Tuesday, December 11th. Finally, William Blair downgraded Stitch Fix from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 11th. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $35.50.
Get Stitch Fix alerts:Stitch Fix stock opened at $31.63 on Wednesday. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of 81.10, a PEG ratio of 7.56 and a beta of 3.37. Stitch Fix has a fifty-two week low of $16.05 and a fifty-two week high of $52.44.
Stitch Fix (NASDAQ:SFIX) last issued its earnings results on Monday, March 11th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.07. Stitch Fix had a return on equity of 15.99% and a net margin of 3.67%. The firm had revenue of $370.28 million for the quarter, compared to the consensus estimate of $365.28 million. As a group, equities research analysts forecast that Stitch Fix will post 0.2 earnings per share for the current year.
In related news, insider Mike C. Smith sold 25,000 shares of the company’s stock in a transaction dated Monday, December 17th. The stock was sold at an average price of $19.03, for a total value of $475,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Steven M. Spurlock sold 510,588 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $32.05, for a total value of $16,364,345.40. The disclosure for this sale can be found here. Insiders sold a total of 819,520 shares of company stock valued at $24,067,313 in the last ninety days. 56.97% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SFIX. Park West Asset Management LLC acquired a new position in Stitch Fix in the 4th quarter worth about $30,016,000. Baillie Gifford & Co. raised its holdings in Stitch Fix by 48.0% in the 4th quarter. Baillie Gifford & Co. now owns 3,600,131 shares of the company’s stock worth $61,526,000 after purchasing an additional 1,167,506 shares during the period. Renaissance Technologies LLC acquired a new position in Stitch Fix in the 3rd quarter worth about $49,972,000. Vanguard Group Inc raised its holdings in Stitch Fix by 46.9% in the 3rd quarter. Vanguard Group Inc now owns 2,013,293 shares of the company’s stock worth $88,122,000 after purchasing an additional 642,540 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Stitch Fix by 46.9% in the 3rd quarter. Vanguard Group Inc. now owns 2,013,293 shares of the company’s stock worth $88,122,000 after purchasing an additional 642,540 shares during the period. 28.30% of the stock is owned by institutional investors.
Stitch Fix Company Profile
Stitch Fix, Inc sells a range of apparel, shoes, and accessories through its Website and mobile app in the United States. It offers denim, dresses, blouses, skirts, shoes, jewelry, and handbags for men, women, and kids under the Stitch Fix brand. The company was formerly known as rack habit inc. and changed its name to Stitch Fix, Inc in October 2011.
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