Stitch Fix (SFIX) Rating Increased to Buy at Zacks Investment Research

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Zacks Investment Research upgraded shares of Stitch Fix (NASDAQ:SFIX) from a hold rating to a buy rating in a research report sent to investors on Wednesday. Zacks Investment Research currently has $22.00 price target on the stock.

According to Zacks, “Stitch Fix, Inc. provides an online subscription and personal shopping platform. The Company offers shirts, jackets, sweaters, blazers, leggings, vests, scarfs, jeans, loafers and boots for men and women. Stitch Fix, Inc. is based in San Francisco, United States. “

A number of other equities analysts have also recently commented on SFIX. KeyCorp reiterated a buy rating and issued a $53.00 target price (up previously from $38.00) on shares of Stitch Fix in a research report on Thursday, September 13th. Piper Jaffray Companies cut shares of Stitch Fix from an overweight rating to a neutral rating and lifted their target price for the stock from $29.00 to $43.00 in a research report on Thursday, September 20th. JPMorgan Chase & Co. lifted their target price on shares of Stitch Fix to $36.00 and gave the stock a neutral rating in a research report on Tuesday, September 25th. Stifel Nicolaus lifted their target price on shares of Stitch Fix from $26.00 to $30.00 and gave the stock a hold rating in a research report on Tuesday, October 2nd. Finally, Wells Fargo & Co dropped coverage on shares of Stitch Fix in a research report on Tuesday, October 2nd. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $29.10.

Shares of NASDAQ:SFIX opened at $20.59 on Wednesday. The firm has a market capitalization of $2.01 billion, a P/E ratio of 52.79, a price-to-earnings-growth ratio of 5.65 and a beta of 3.19. Stitch Fix has a 52 week low of $16.05 and a 52 week high of $52.44.

Stitch Fix (NASDAQ:SFIX) last issued its earnings results on Monday, December 10th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.07. The company had revenue of $366.00 million for the quarter, compared to analysts’ expectations of $358.05 million. Stitch Fix had a net margin of 3.24% and a return on equity of 14.80%. The firm’s revenue was up 23.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.04 EPS. As a group, analysts forecast that Stitch Fix will post 0.16 earnings per share for the current year.

In other Stitch Fix news, CEO Katrina Lake sold 8,673 shares of the business’s stock in a transaction dated Wednesday, December 19th. The shares were sold at an average price of $20.00, for a total value of $173,460.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Mike C. Smith sold 25,000 shares of Stitch Fix stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $26.78, for a total transaction of $669,500.00. The disclosure for this sale can be found here. Insiders sold 83,673 shares of company stock worth $1,961,710 in the last 90 days. Corporate insiders own 56.97% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in SFIX. Renaissance Technologies LLC bought a new stake in shares of Stitch Fix during the 3rd quarter valued at about $49,972,000. Vanguard Group Inc boosted its stake in shares of Stitch Fix by 46.9% during the 3rd quarter. Vanguard Group Inc now owns 2,013,293 shares of the company’s stock valued at $88,122,000 after purchasing an additional 642,540 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Stitch Fix by 46.9% during the 3rd quarter. Vanguard Group Inc. now owns 2,013,293 shares of the company’s stock valued at $88,122,000 after purchasing an additional 642,540 shares in the last quarter. Scopus Asset Management L.P. bought a new stake in shares of Stitch Fix during the 2nd quarter valued at about $6,860,000. Finally, Putnam Investments LLC bought a new stake in shares of Stitch Fix during the 2nd quarter valued at about $6,019,000. 22.28% of the stock is currently owned by hedge funds and other institutional investors.

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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