Stitch Fix (NASDAQ:SFIX) Price Target Raised to $6.00

Stitch Fix (NASDAQ:SFIX) had its target price hoisted by Canaccord Genuity Group from $5.00 to $6.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a hold rating on the stock.

Other equities research analysts have also issued research reports about the stock. UBS Group raised their target price on shares of Stitch Fix from $2.80 to $5.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Telsey Advisory Group increased their price objective on shares of Stitch Fix from $4.00 to $6.00 and gave the stock a “market perform” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $3.96.

Stitch Fix Trading Down 15.7 %

SFIX opened at $3.92 on Wednesday. The stock has a 50-day moving average of $3.72 and a 200 day moving average of $3.72. Stitch Fix has a 12 month low of $2.06 and a 12 month high of $6.99. The firm has a market cap of $497.20 million, a P/E ratio of -4.72 and a beta of 1.99.

Stitch Fix (NASDAQ:SFIX) last released its earnings results on Tuesday, December 10th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.09. The firm had revenue of $318.82 million for the quarter, compared to the consensus estimate of $306.88 million. Stitch Fix had a negative return on equity of 32.21% and a negative net margin of 7.71%. The company’s revenue for the quarter was down 12.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.30) EPS. On average, research analysts forecast that Stitch Fix will post -0.61 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Stitch Fix news, Director Katrina Lake sold 725,002 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $5.78, for a total value of $4,190,511.56. The sale was disclosed in a filing with the SEC, which is available through this link. 16.95% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Disciplined Growth Investors Inc. MN lifted its holdings in shares of Stitch Fix by 48.1% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 13,734,485 shares of the company’s stock worth $38,731,000 after buying an additional 4,460,668 shares during the period. Renaissance Technologies LLC lifted its stake in Stitch Fix by 11.7% in the second quarter. Renaissance Technologies LLC now owns 4,432,600 shares of the company’s stock worth $18,395,000 after acquiring an additional 465,900 shares during the period. Hodges Capital Management Inc. increased its position in Stitch Fix by 34.4% during the 3rd quarter. Hodges Capital Management Inc. now owns 3,375,200 shares of the company’s stock valued at $9,518,000 after purchasing an additional 864,100 shares during the period. Geode Capital Management LLC raised its holdings in shares of Stitch Fix by 3.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,294,925 shares of the company’s stock valued at $6,473,000 after purchasing an additional 83,220 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of Stitch Fix in the 3rd quarter worth approximately $2,862,000. Institutional investors own 71.04% of the company’s stock.

Stitch Fix Company Profile

Stitch Fix, Inc sells a range of apparel, shoes, and accessories for men, women, and kids through its website and mobile application in the United States and the United Kingdom. It offers denim, dresses, blouses, skirts, shoes, jewelry, and handbags under the Stitch Fix brand. The company was formerly known as rack habit inc.