UBS Group Boosts Stitch Fix (NASDAQ:SFIX) Price Target to $3.80

Stitch Fix (NASDAQ:SFIX) had its price target hoisted by UBS Group from $2.80 to $3.80 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other equities research analysts have also weighed in on SFIX. Canaccord Genuity Group raised their price objective on shares of Stitch Fix from $3.50 to $4.50 and gave the company a hold rating in a report on Thursday, June 27th. Mizuho raised their price objective on shares of Stitch Fix from $2.00 to $3.00 and gave the stock an underperform rating in a research report on Monday, June 10th. Telsey Advisory Group reissued a market perform rating and set a $4.00 price objective on shares of Stitch Fix in a research report on Thursday, May 30th. Truist Financial raised their price objective on shares of Stitch Fix from $3.50 to $4.00 and gave the stock a hold rating in a research report on Wednesday, June 5th. Finally, Wedbush reissued a neutral rating and set a $3.00 price objective on shares of Stitch Fix in a research report on Wednesday, June 5th. Two research analysts have rated the stock with a sell rating and ten have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $3.45.

Stitch Fix Stock Down 1.8 %

Stitch Fix stock opened at $4.33 on Monday. The firm has a market cap of $529.74 million, a PE ratio of -4.25 and a beta of 1.97. Stitch Fix has a 52-week low of $2.06 and a 52-week high of $5.20. The company’s 50 day moving average is $3.15 and its two-hundred day moving average is $3.00.

Stitch Fix (NASDAQ:SFIX) last announced its quarterly earnings data on Tuesday, June 4th. The company reported ($0.15) earnings per share 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 for the quarter, compared to analyst estimates of $305.93 million. On average, equities research analysts anticipate that Stitch Fix will post -0.73 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Sarah Barkema sold 30,000 shares of Stitch Fix stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $3.74, for a total value of $112,200.00. Following the sale, the chief accounting officer now owns 108,535 shares of the company’s stock, valued at $405,920.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 25.90% of the company’s stock.

Institutional Trading of Stitch Fix

Several hedge funds and other institutional investors have recently made changes to their positions in SFIX. Maple Rock Capital Partners Inc. acquired a new stake in shares of Stitch Fix in the first quarter valued at about $8,994,000. Hodges Capital Management Inc. acquired a new stake in shares of Stitch Fix in the first quarter valued at about $1,716,000. Los Angeles Capital Management LLC lifted its stake in shares of Stitch Fix by 673.2% in the first quarter. Los Angeles Capital Management LLC now owns 516,782 shares of the company’s stock valued at $1,364,000 after purchasing an additional 449,948 shares during the period. Vanguard Group Inc. lifted its stake in shares of Stitch Fix by 4.1% in the third quarter. Vanguard Group Inc. now owns 5,856,137 shares of the company’s stock valued at $20,204,000 after purchasing an additional 231,975 shares during the period. Finally, Fund 1 Investments LLC lifted its stake in shares of Stitch Fix by 362.1% in the fourth quarter. Fund 1 Investments LLC now owns 204,960 shares of the company’s stock valued at $732,000 after purchasing an additional 160,604 shares during the period. Institutional investors and hedge funds own 71.04% of the company’s stock.

About Stitch Fix

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.