Truist Boosts Stitch Fix (NASDAQ:SFIX) Price Target to $77.00

Stitch Fix (NASDAQ:SFIX) had its price target lifted by Truist from $60.00 to $77.00 in a report published on Tuesday, The Fly reports. Truist currently has a buy rating on the stock.

A number of other research firms have also recently issued reports on SFIX. Evercore ISI initiated coverage on Stitch Fix in a research report on Tuesday, April 6th. They issued an outperform rating and a $78.00 target price on the stock. Canaccord Genuity lifted their target price on Stitch Fix from $68.00 to $76.00 and gave the company a buy rating in a research report on Tuesday. Morgan Stanley lifted their target price on Stitch Fix from $25.00 to $27.00 and gave the company an underweight rating in a research report on Tuesday. Zacks Investment Research upgraded Stitch Fix from a sell rating to a hold rating and set a $42.00 target price on the stock in a research report on Tuesday, May 11th. Finally, Deutsche Bank Aktiengesellschaft reiterated a hold rating and issued a $54.00 target price on shares of Stitch Fix in a research report on Monday, March 15th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. Stitch Fix currently has an average rating of Hold and a consensus price target of $88.30.

Shares of NASDAQ SFIX opened at $63.03 on Tuesday. Stitch Fix has a 52 week low of $21.60 and a 52 week high of $113.76. The company has a market capitalization of $6.70 billion, a PE ratio of -71.63 and a beta of 2.04. The stock has a fifty day moving average of $48.31.

Stitch Fix (NASDAQ:SFIX) last issued its quarterly earnings results on Sunday, June 6th. The company reported ($0.18) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.27) by $0.09. Stitch Fix had a negative return on equity of 21.32% and a negative net margin of 4.97%. Sell-side analysts predict that Stitch Fix will post -0.59 EPS for the current year.

In related news, Director Marka Hansen sold 10,000 shares of Stitch Fix stock in a transaction that occurred on Monday, June 7th. The stock was sold at an average price of $55.83, for a total value of $558,300.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $558,300. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Elizabeth Spaulding sold 6,340 shares of Stitch Fix stock in a transaction that occurred on Tuesday, June 8th. The stock was sold at an average price of $66.72, for a total value of $423,004.80. Following the completion of the transaction, the president now directly owns 238,949 shares in the company, valued at $15,942,677.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 434,093 shares of company stock worth $21,090,607. 45.10% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of SFIX. Salem Investment Counselors Inc. acquired a new position in shares of Stitch Fix in the fourth quarter worth approximately $44,000. Burleson & Company LLC acquired a new position in Stitch Fix in the first quarter valued at approximately $50,000. Invictus RG acquired a new position in Stitch Fix in the fourth quarter valued at approximately $58,000. Financial Avengers Inc. acquired a new position in Stitch Fix in the fourth quarter valued at approximately $100,000. Finally, International Assets Investment Management LLC lifted its stake in Stitch Fix by 144.4% in the first quarter. International Assets Investment Management LLC now owns 2,285 shares of the company’s stock valued at $122,000 after buying an additional 1,350 shares during the period. 54.58% of the stock is currently owned by institutional investors.

Stitch Fix Company Profile

Stitch Fix, Inc sells a range of apparel, shoes, and accessories through its Website and mobile application 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.

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