Stitch Fix (NASDAQ:SFIX) Price Target Raised to $6.00 at Telsey Advisory Group

Stitch Fix (NASDAQ:SFIX) had its target price increased by Telsey Advisory Group from $4.00 to $6.00 in a report published on Wednesday, Marketbeat Ratings reports. Telsey Advisory Group currently has a market perform rating on the stock.

A number of other equities research analysts have also commented on the company. Canaccord Genuity Group raised their price objective on Stitch Fix from $3.50 to $5.00 and gave the stock a “hold” rating in a research report on Monday, December 2nd. UBS Group raised their price target on shares of Stitch Fix from $2.80 to $5.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Two research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $3.96.

Stitch Fix Price Performance

Stitch Fix stock opened at $3.92 on Wednesday. Stitch Fix has a fifty-two week low of $2.06 and a fifty-two week high of $6.99. The firm’s 50 day simple moving average is $3.72 and its 200-day simple moving average is $3.72. The company has a market cap of $497.20 million, a P/E ratio of -4.72 and a beta of 1.99.

Stitch Fix (NASDAQ:SFIX) last posted its quarterly earnings data on Tuesday, December 10th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.09. The firm had revenue of $318.82 million for the quarter, compared to analysts’ expectations of $306.88 million. Stitch Fix had a negative net margin of 7.71% and a negative return on equity of 32.21%. The company’s quarterly revenue was down 12.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.30) EPS. On average, analysts expect that Stitch Fix will post -0.61 EPS for the current fiscal year.

Insider Buying and Selling

In other Stitch Fix news, Director Katrina Lake sold 725,002 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $5.78, for a total value of $4,190,511.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 16.95% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SFIX. Disciplined Growth Investors Inc. MN boosted its holdings in Stitch Fix by 48.1% in the third quarter. Disciplined Growth Investors Inc. MN now owns 13,734,485 shares of the company’s stock worth $38,731,000 after purchasing an additional 4,460,668 shares in the last quarter. Hodges Capital Management Inc. boosted its stake in shares of Stitch Fix by 286.2% during the 2nd quarter. Hodges Capital Management Inc. now owns 2,511,100 shares of the company’s stock worth $10,421,000 after acquiring an additional 1,860,950 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of Stitch Fix during the 3rd quarter valued at about $2,862,000. Renaissance Technologies LLC increased its holdings in shares of Stitch Fix by 11.7% during the 2nd quarter. Renaissance Technologies LLC now owns 4,432,600 shares of the company’s stock valued at $18,395,000 after acquiring an additional 465,900 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its stake in shares of Stitch Fix by 2,253.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 146,750 shares of the company’s stock valued at $414,000 after acquiring an additional 140,515 shares in the last quarter. Institutional investors 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.