Stitch Fix (NASDAQ:SFIX) was upgraded by analysts at Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research note issued on Friday, BenzingaRatingsTable reports. The brokerage currently has a $38.00 price target on the stock. Goldman Sachs Group’s price objective suggests a potential upside of 35.14% from the company’s previous close.
SFIX has been the subject of several other research reports. Zacks Investment Research cut Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, June 8th. TheStreet upgraded Stitch Fix from a “d” rating to a “c-” rating in a report on Wednesday, June 26th. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price target on shares of ACADIA Pharmaceuticals in a report on Monday, July 1st. SunTrust Banks increased their price target on Stitch Fix from $43.00 to $44.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Finally, JPMorgan Chase & Co. set a €49.00 ($56.98) price target on Deutsche Wohnen and gave the stock a “buy” rating in a report on Thursday, June 6th. Eight analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Stitch Fix presently has an average rating of “Hold” and a consensus target price of $35.40.
NASDAQ SFIX opened at $28.12 on Friday. The business’s 50 day simple moving average is $28.35. Stitch Fix has a one year low of $16.05 and a one year high of $52.44. The firm has a market capitalization of $2.92 billion, a PE ratio of 72.10, a P/E/G ratio of 3.99 and a beta of 3.24.
Stitch Fix (NASDAQ:SFIX) last released its earnings results on Wednesday, June 5th. The company reported $0.07 EPS for the quarter, topping the 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 business had revenue of $409.00 million during the quarter, compared to analysts’ expectations of $395.06 million. During the same quarter last year, the firm posted $0.09 earnings per share. The firm’s revenue was up 29.1% on a year-over-year basis. Equities analysts expect that Stitch Fix will post 0.32 EPS for the current year.
In related news, major shareholder Steven M. Spurlock sold 223,029 shares of Stitch Fix stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $28.46, for a total transaction of $6,347,405.34. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Scott Darling sold 3,000 shares of Stitch Fix stock in a transaction on Monday, July 1st. The stock was sold at an average price of $31.83, for a total value of $95,490.00. The disclosure for this sale can be found here. Insiders sold 1,042,037 shares of company stock worth $29,750,017 in the last 90 days. Corporate insiders own 56.97% of the company’s stock.
A number of institutional investors have recently modified their holdings of SFIX. Valeo Financial Advisors LLC lifted 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 worth $69,000 after purchasing an additional 502 shares during the last quarter. Weaver Consulting Group bought a new stake in Stitch Fix during the first quarter worth about $28,000. First Trust Advisors LP lifted its stake in Stitch Fix by 25.4% during the first quarter. First Trust Advisors LP now owns 104,279 shares of the company’s stock worth $2,944,000 after purchasing an additional 21,153 shares during the last quarter. Marshall Wace North America L.P. bought a new stake in Stitch Fix during the first quarter worth about $231,000. Finally, Marshall Wace LLP lifted its stake in Stitch Fix by 95.6% during the first quarter. Marshall Wace LLP now owns 22,778 shares of the company’s stock worth $643,000 after purchasing an additional 11,132 shares during the last quarter. 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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