Truist Securities Lowers Stitch Fix (NASDAQ:SFIX) Price Target to $60.00

Stitch Fix (NASDAQ:SFIX) had its target price dropped by equities researchers at Truist Securities from $77.00 to $60.00 in a report released on Wednesday, Stock Target Advisor reports. The brokerage presently has a “buy” rating on the stock. Truist Securities’ price target would suggest a potential upside of 48.59% from the stock’s current price.

A number of other research analysts have also recently weighed in on the stock. Telsey Advisory Group cut their price objective on shares of Stitch Fix from $84.00 to $55.00 and set an “outperform” rating for the company in a report on Wednesday. Canaccord Genuity lowered their price target on shares of Stitch Fix from $76.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday. 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, June 8th. TheStreet upgraded shares of Stitch Fix from a “d+” rating to a “c” rating in a research report on Monday, June 28th. Finally, Barclays lowered their price target on shares of Stitch Fix from $59.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Stitch Fix presently has a consensus rating of “Hold” and a consensus target price of $83.11.

Shares of NASDAQ:SFIX traded up $4.92 on Wednesday, hitting $40.38. 312,542 shares of the company were exchanged, compared to its average volume of 2,227,840. Stitch Fix has a 1-year low of $25.19 and a 1-year high of $113.76. The stock’s 50 day moving average price is $45.07 and its 200 day moving average price is $49.80. The firm has a market capitalization of $4.33 billion, a P/E ratio of -55.18 and a beta of 1.97.

Stitch Fix (NASDAQ:SFIX) last issued its earnings results on Tuesday, September 21st. The company reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.31. Stitch Fix had a negative net margin of 3.79% and a negative return on equity of 17.68%. The firm had revenue of $571.20 million during the quarter, compared to analysts’ expectations of $548.01 million. During the same quarter last year, the company posted ($0.44) earnings per share. The firm’s revenue was up 28.8% compared to the same quarter last year. On average, sell-side analysts forecast that Stitch Fix will post -0.43 EPS for the current fiscal year.

In other Stitch Fix news, CEO Katrina Lake sold 43,778 shares of the stock in a transaction that occurred on Friday, July 16th. The shares were sold at an average price of $54.04, for a total value of $2,365,763.12. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Mike C. Smith sold 20,000 shares of the stock in a transaction that occurred on Thursday, June 24th. The shares were sold at an average price of $62.29, for a total transaction of $1,245,800.00. Following the completion of the sale, the director now directly owns 67,356 shares in the company, valued at $4,195,605.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 256,037 shares of company stock worth $11,840,832. 45.10% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in the business. Working Capital Advisors UK Ltd. boosted its holdings in shares of Stitch Fix by 27.8% in the 2nd quarter. Working Capital Advisors UK Ltd. now owns 6,139,609 shares of the company’s stock valued at $370,218,000 after buying an additional 1,336,989 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Stitch Fix by 9.3% in the 2nd quarter. Vanguard Group Inc. now owns 6,008,259 shares of the company’s stock valued at $362,298,000 after buying an additional 508,853 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in shares of Stitch Fix by 5.9% in the 2nd quarter. Baillie Gifford & Co. now owns 5,997,845 shares of the company’s stock valued at $361,670,000 after buying an additional 331,758 shares in the last quarter. Morgan Stanley boosted its holdings in shares of Stitch Fix by 23.8% in the 2nd quarter. Morgan Stanley now owns 4,816,101 shares of the company’s stock valued at $290,411,000 after buying an additional 924,886 shares in the last quarter. Finally, BlackRock Inc. boosted its holdings in shares of Stitch Fix by 4.0% in the 1st quarter. BlackRock Inc. now owns 4,524,293 shares of the company’s stock valued at $224,133,000 after buying an additional 172,531 shares in the last quarter. 61.11% of the stock is currently owned by institutional investors.

Stitch Fix Company Profile

Stitch Fix, Inc is an online personal styling service that delivers personalized fixes of apparel and accessories to men, women and kids. The company was founded by Katrina Lake and Erin Morrison Flynn in February 2011 and is headquartered in San Francisco, CA.

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