Canaccord Genuity Group Boosts Stitch Fix (NASDAQ:SFIX) Price Target to $4.50

Stitch Fix (NASDAQ:SFIX) had its price objective increased by Canaccord Genuity Group from $3.50 to $4.50 in a research note published on Thursday, Benzinga reports. Canaccord Genuity Group currently has a hold rating on the stock.

Other analysts also recently issued research reports about the company. Mizuho raised their price objective on Stitch Fix from $2.00 to $3.00 and gave the stock an underperform rating in a research report on Monday, June 10th. Wells Fargo & Company decreased their price target on shares of Stitch Fix from $3.50 to $3.00 and set an equal weight rating on the stock in a research note on Tuesday, March 5th. Wedbush restated a neutral rating and issued a $3.00 price objective on shares of Stitch Fix in a research note on Wednesday, June 5th. Sanford C. Bernstein reduced their price objective on shares of Stitch Fix from $4.00 to $3.40 and set a market perform rating for the company in a report on Tuesday, March 5th. Finally, UBS Group assumed coverage on shares of Stitch Fix in a research note on Monday, April 8th. They issued a neutral rating and a $2.80 target price on the stock. Two equities research analysts have rated the stock with a sell rating and ten have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $3.37.

Stitch Fix Price Performance

NASDAQ:SFIX opened at $4.15 on Thursday. The stock has a market cap of $507.71 million, a P/E ratio of -4.07 and a beta of 1.98. The company has a fifty day moving average price of $2.83 and a 200 day moving average price of $3.00. Stitch Fix has a one year low of $2.06 and a one year high of $5.20.

Stitch Fix (NASDAQ:SFIX) last announced its quarterly earnings data on Tuesday, June 4th. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.10. Stitch Fix had a negative net margin of 8.68% and a negative return on equity of 41.40%. The business had revenue of $322.73 million during the quarter, compared to analyst estimates of $305.93 million. As a group, equities research analysts anticipate that Stitch Fix will post -0.73 EPS for the current year.

Insider Transactions at Stitch Fix

In related news, CAO Sarah Barkema sold 30,000 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $3.74, for a total transaction of $112,200.00. Following the completion of the sale, the chief accounting officer now directly owns 108,535 shares of the company’s stock, valued at approximately $405,920.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 25.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Stitch Fix

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. New York State Teachers Retirement System bought a new stake in shares of Stitch Fix during the fourth quarter valued at approximately $27,000. Tower Research Capital LLC TRC boosted its position in Stitch Fix by 232.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,898 shares of the company’s stock valued at $39,000 after buying an additional 7,617 shares during the last quarter. Lodestar Private Asset Management LLC acquired a new stake in shares of Stitch Fix in the 1st quarter valued at $29,000. Victory Capital Management Inc. bought a new stake in shares of Stitch Fix during the fourth quarter worth $42,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Stitch Fix by 50.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,146 shares of the company’s stock valued at $61,000 after acquiring an additional 5,718 shares during the period. Institutional investors and hedge funds 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.