JPMorgan Chase & Co. Trims Stitch Fix (NASDAQ:SFIX) Target Price to $24.00

Stitch Fix (NASDAQ:SFIX) had its price target decreased by JPMorgan Chase & Co. from $34.00 to $24.00 in a research report report published on Wednesday morning, The Fly reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other equities analysts have also commented on the company. Barclays dropped their price objective on Stitch Fix from $32.00 to $22.00 and set an equal weight rating on the stock in a research note on Wednesday. SunTrust Banks dropped their price objective on Stitch Fix from $44.00 to $36.00 and set a buy rating on the stock in a research note on Wednesday. Goldman Sachs Group upgraded Stitch Fix from a neutral rating to a buy rating and set a $38.00 price objective on the stock in a research note on Friday, July 12th. Stifel Nicolaus dropped their price objective on Stitch Fix from $35.00 to $28.00 and set a buy rating on the stock in a research note on Friday, September 27th. Finally, KeyCorp dropped their price objective on Stitch Fix from $40.00 to $34.00 and set an overweight rating on the stock in a research note on Wednesday. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $28.70.

NASDAQ SFIX traded up $0.95 during trading on Wednesday, hitting $19.61. 6,428,106 shares of the company traded hands, compared to its average volume of 2,524,309. Stitch Fix has a 12 month low of $16.05 and a 12 month high of $37.72. The business has a fifty day simple moving average of $19.51 and a 200 day simple moving average of $25.11. The company has a market capitalization of $1.98 billion, a P/E ratio of 54.47, a PEG ratio of 2.49 and a beta of 3.33.

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

In related news, CEO Katrina Lake sold 100,000 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $20.98, for a total transaction of $2,098,000.00. Also, insider Mike C. Smith sold 15,000 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were 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 346,000 shares of company stock worth $8,050,620 over the last quarter. 56.97% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Janney Montgomery Scott LLC increased its stake in Stitch Fix by 3.3% during the second quarter. Janney Montgomery Scott LLC now owns 14,359 shares of the company’s stock valued at $459,000 after acquiring an additional 465 shares during the period. Valeo Financial Advisors LLC increased its stake in Stitch Fix by 30.3% during the second quarter. Valeo Financial Advisors LLC now owns 2,159 shares of the company’s stock valued at $69,000 after acquiring an additional 502 shares during the period. California Public Employees Retirement System increased its stake in Stitch Fix by 0.6% during the first quarter. California Public Employees Retirement System now owns 87,981 shares of the company’s stock valued at $2,484,000 after acquiring an additional 537 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in Stitch Fix by 7.7% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 7,688 shares of the company’s stock valued at $246,000 after acquiring an additional 551 shares during the period. Finally, Mycio Wealth Partners LLC increased its stake in Stitch Fix by 8.2% during the second quarter. Mycio Wealth Partners LLC now owns 9,825 shares of the company’s stock valued at $314,000 after acquiring an additional 746 shares during the period. Hedge funds and other institutional investors own 39.43% of the company’s stock.

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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Analyst Recommendations for Stitch Fix (NASDAQ:SFIX)

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