Stitch Fix (NASDAQ:SFIX) Price Target Cut to $20.00 by Analysts at Wells Fargo & Co

Stitch Fix (NASDAQ:SFIX) had its target price lowered by Wells Fargo & Co from $30.00 to $20.00 in a report published on Wednesday morning, The Fly reports. The brokerage currently has a market perform rating on the stock.

SFIX has been the topic of several other reports. Needham & Company LLC began coverage on Stitch Fix in a report on Monday, July 1st. They set a hold rating on the stock. Zacks Investment Research cut Stitch Fix from a buy rating to a hold rating in a report on Saturday, August 3rd. TheStreet cut Stitch Fix from a c- rating to a d rating in a report on Thursday, August 22nd. JPMorgan Chase & Co. lowered their price target on Stitch Fix from $34.00 to $24.00 and set a neutral rating on the stock in a report on Wednesday. Finally, Stifel Nicolaus lowered their price target on Stitch Fix from $35.00 to $28.00 and set a buy rating on the stock in a report on Friday, September 27th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $28.70.

Shares of NASDAQ SFIX traded up $0.95 during midday trading on Wednesday, hitting $19.61. 3,698,836 shares of the stock traded hands, compared to its average volume of 2,524,309. The firm has a 50-day moving average of $19.51 and a two-hundred day moving average of $25.11. The firm has a market capitalization of $2.02 billion, a P/E ratio of 54.47, a PEG ratio of 2.49 and a beta of 3.33. Stitch Fix has a one year low of $16.05 and a one year high of $37.72.

Stitch Fix (NASDAQ:SFIX) last released its quarterly earnings results on Tuesday, October 1st. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.03. The firm had revenue of $432.10 million for the quarter, compared to analysts’ expectations of $432.44 million. Stitch Fix had a return on equity of 10.41% and a net margin of 2.34%. The company’s revenue was up 35.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.18 EPS. On average, equities analysts anticipate that Stitch Fix will post 0.27 earnings per share for the current year.

In other news, CEO Katrina Lake sold 100,000 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $28.26, for a total value of $2,826,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mike C. Smith sold 15,000 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $28.07, for a total value of $421,050.00. The disclosure for this sale can be found here. Insiders sold a total of 346,000 shares of company stock valued at $8,050,620 over the last 90 days. 56.97% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of the company. River & Mercantile Asset Management LLP purchased a new stake in shares of Stitch Fix in the 2nd quarter worth $265,000. Luxor Capital Group LP purchased a new stake in shares of Stitch Fix in the 2nd quarter worth $7,328,000. Griffin Asset Management Inc. purchased a new stake in shares of Stitch Fix in the 2nd quarter worth $63,000. Steadfast Capital Management LP increased its stake in shares of Stitch Fix by 16.3% in the 2nd quarter. Steadfast Capital Management LP now owns 2,234,029 shares of the company’s stock worth $71,467,000 after purchasing an additional 313,296 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Stitch Fix by 14.1% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 41,621 shares of the company’s stock worth $1,307,000 after purchasing an additional 5,154 shares in the last quarter. Hedge funds and other institutional investors own 39.43% of the company’s stock.

About Stitch Fix

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.

Featured Article: What is a CD ladder?

The Fly

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.