Stitch Fix (NASDAQ:SFIX) was upgraded by stock analysts at Goldman Sachs Group from a “neutral” rating to a “buy” rating in a note issued to investors on Friday, Marketbeat Ratings reports. The brokerage presently has a $38.00 price objective on the stock. Goldman Sachs Group’s price target would suggest a potential upside of 37.43% from the stock’s current price.
A number of other research firms also recently commented on SFIX. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 target price on shares of ACADIA Pharmaceuticals in a report on Monday, July 1st. TheStreet raised Stitch Fix from a “d” rating to a “c-” rating in a report on Wednesday, June 26th. SunTrust Banks lifted their target price on Stitch Fix from $43.00 to $44.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. JPMorgan Chase & Co. set a €49.00 ($56.98) target price on Deutsche Wohnen and gave the stock a “buy” rating in a report on Thursday, June 6th. Finally, Zacks Investment Research downgraded Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, June 8th. Eight analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Stitch Fix has an average rating of “Hold” and an average price target of $35.40.
Stitch Fix stock opened at $27.65 on Friday. Stitch Fix has a 52 week low of $16.05 and a 52 week high of $52.44. The firm has a market capitalization of $2.84 billion, a P/E ratio of 70.90, a price-to-earnings-growth ratio of 3.87 and a beta of 3.24. The business’s 50-day moving average price is $28.43.
Stitch Fix (NASDAQ:SFIX) last released its earnings results on Wednesday, June 5th. The company reported $0.07 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.10. Stitch Fix had a return on equity of 13.77% and a net margin of 3.27%. The firm had revenue of $409.00 million during the quarter, compared to the consensus estimate of $395.06 million. During the same quarter in the previous year, the company posted $0.09 earnings per share. The company’s revenue was up 29.1% compared to the same quarter last year. As a group, equities analysts expect that Stitch Fix will post 0.32 earnings per share for the current fiscal year.
In other news, CEO Katrina Lake sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $26.18, for a total value of $2,618,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mike C. Smith sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $26.22, for a total value of $655,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,042,037 shares of company stock valued at $29,750,017. 56.97% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of the company. California Public Employees Retirement System increased its stake in shares of Stitch Fix by 1,668.7% in the fourth quarter. California Public Employees Retirement System now owns 87,444 shares of the company’s stock worth $1,494,000 after purchasing an additional 82,500 shares in the last quarter. BlackRock Inc. boosted its position in shares of Stitch Fix by 54.7% in the fourth quarter. BlackRock Inc. now owns 381,752 shares of the company’s stock valued at $6,525,000 after acquiring an additional 134,984 shares during the period. Commonwealth Equity Services LLC boosted its position in shares of Stitch Fix by 77.5% in the fourth quarter. Commonwealth Equity Services LLC now owns 28,786 shares of the company’s stock valued at $491,000 after acquiring an additional 12,567 shares during the period. Advisor Group Inc. boosted its position in shares of Stitch Fix by 39.5% in the fourth quarter. Advisor Group Inc. now owns 9,541 shares of the company’s stock valued at $163,000 after acquiring an additional 2,701 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Stitch Fix by 60.7% in the fourth quarter. Northern Trust Corp now owns 48,009 shares of the company’s stock valued at $820,000 after acquiring an additional 18,133 shares during the period. Institutional investors and hedge funds own 29.24% 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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