Truist Securities Boosts Stitch Fix (NASDAQ:SFIX) Price Target to $77.00

Stitch Fix (NASDAQ:SFIX) had its target price lifted by Truist Securities from $60.00 to $77.00 in a report released on Tuesday, Stock Target Advisor reports. Truist Securities currently has a buy rating on the stock.

Several other analysts also recently weighed in on the stock. BMO Capital Markets lifted their price objective on shares of Stitch Fix from $35.00 to $40.00 in a research report on Tuesday, March 9th. Canaccord Genuity boosted their price target on shares of Stitch Fix from $68.00 to $76.00 and gave the stock a buy rating in a research report on Tuesday. Morgan Stanley boosted their price target on shares of Stitch Fix from $25.00 to $27.00 and gave the stock an underweight rating in a research report on Tuesday. MKM Partners boosted their price target on shares of Stitch Fix from $29.00 to $45.00 and gave the stock a sell rating in a research report on Tuesday. Finally, Wells Fargo & Company boosted their price target on shares of Stitch Fix from $27.00 to $35.00 and gave the stock an underweight rating in a research report on Tuesday. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. Stitch Fix presently has a consensus rating of Hold and an average price target of $88.30.

Shares of NASDAQ:SFIX opened at $63.03 on Tuesday. The company has a market cap of $6.70 billion, a P/E ratio of -71.63 and a beta of 2.04. The firm has a 50-day moving average price of $48.31. Stitch Fix has a fifty-two week low of $21.60 and a fifty-two week high of $113.76.

Stitch Fix (NASDAQ:SFIX) last issued its quarterly earnings data on Sunday, June 6th. The company reported ($0.18) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.27) by $0.09. Stitch Fix had a negative net margin of 4.97% and a negative return on equity of 21.32%. Sell-side analysts expect that Stitch Fix will post -0.59 EPS for the current fiscal year.

In other news, President Elizabeth Spaulding sold 6,340 shares of Stitch Fix stock in a transaction that occurred on Tuesday, June 8th. The shares were sold at an average price of $66.72, for a total value of $423,004.80. Following the transaction, the president now directly owns 238,949 shares of the company’s stock, valued at $15,942,677.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Scott Darling sold 4,177 shares of Stitch Fix stock in a transaction that occurred on Monday, March 22nd. The stock was sold at an average price of $51.68, for a total transaction of $215,867.36. Following the completion of the transaction, the insider now directly owns 57,226 shares in the company, valued at $2,957,439.68. The disclosure for this sale can be found here. Over the last three months, insiders sold 434,093 shares of company stock worth $21,090,607. 45.10% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. Alliancebernstein L.P. increased its position in shares of Stitch Fix by 58.1% in the first quarter. Alliancebernstein L.P. now owns 137,380 shares of the company’s stock worth $6,806,000 after acquiring an additional 50,510 shares in the last quarter. D.A. Davidson & CO. purchased a new position in Stitch Fix during the first quarter valued at approximately $1,109,000. Scout Investments Inc. purchased a new position in Stitch Fix during the first quarter valued at approximately $13,393,000. New York State Common Retirement Fund grew its position in Stitch Fix by 5.8% during the fourth quarter. New York State Common Retirement Fund now owns 54,500 shares of the company’s stock valued at $3,200,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Swiss National Bank grew its position in Stitch Fix by 7.6% during the first quarter. Swiss National Bank now owns 131,800 shares of the company’s stock valued at $6,529,000 after purchasing an additional 9,300 shares in the last quarter. 54.58% of the stock is currently owned by institutional investors and hedge funds.

Stitch Fix Company Profile

Stitch Fix, Inc sells a range of apparel, shoes, and accessories through its Website and mobile application 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.

See Also: How is the LIBOR rate calculated?

Analyst Recommendations for Stitch Fix (NASDAQ:SFIX)

Receive News & Ratings for Stitch Fix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stitch Fix and related companies with MarketBeat.com's FREE daily email newsletter.