Stitch Fix (NASDAQ:SFIX) Given “Buy” Rating at Stifel Nicolaus

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Stifel Nicolaus reaffirmed their buy rating on shares of Stitch Fix (NASDAQ:SFIX) in a research report report published on Tuesday morning, BenzingaRatingsTable reports. They currently have a $32.00 target price on the stock, up from their previous target price of $28.00.

A number of other brokerages have also commented on SFIX. Robert W. Baird started coverage on Stitch Fix in a report on Tuesday, October 15th. They set an outperform rating and a $28.00 price target for the company. Telsey Advisory Group began coverage on shares of Stitch Fix in a research note on Friday, October 18th. They issued an outperform rating and a $29.00 price objective on the stock. Wells Fargo & Co boosted their target price on shares of Stitch Fix from $20.00 to $24.00 and gave the stock a market perform rating in a research report on Tuesday, November 12th. TheStreet cut shares of Stitch Fix from a c- rating to a d rating in a research note on Thursday, August 22nd. Finally, Barclays cut their target price on shares of Stitch Fix from $32.00 to $22.00 and set an equal weight rating for the company in a research note on Wednesday, October 2nd. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $29.69.

Shares of NASDAQ:SFIX opened at $26.23 on Tuesday. The company has a market cap of $2.45 billion, a P/E ratio of 72.85, a P/E/G ratio of 39.45 and a beta of 3.31. The stock’s 50-day moving average is $23.18 and its 200-day moving average is $23.85. Stitch Fix has a 52-week low of $16.05 and a 52-week high of $37.72.

Stitch Fix (NASDAQ:SFIX) last posted its quarterly earnings data on Tuesday, October 1st. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.03. Stitch Fix had a return on equity of 10.11% and a net margin of 2.34%. The business had revenue of $432.10 million during the quarter, compared to analysts’ expectations of $432.44 million. During the same quarter in the previous year, the firm earned $0.18 EPS. The firm’s revenue was up 35.8% compared to the same quarter last year. Research analysts predict that Stitch Fix will post 0.03 EPS for the current fiscal year.

In related news, COO Mike C. Smith sold 15,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $21.22, for a total value of $318,300.00. Also, major shareholder J William Gurley bought 1,612 shares of Stitch Fix stock in a transaction that occurred on Monday, October 7th. The stock was purchased at an average cost of $87.25 per share, with a total value of $140,647.00. Insiders have sold a total of 311,667 shares of company stock worth $6,933,640 in the last three months. 47.52% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in the business. Captrust Financial Advisors raised its stake in shares of Stitch Fix by 392.0% in the 2nd quarter. Captrust Financial Advisors now owns 1,230 shares of the company’s stock valued at $39,000 after buying an additional 980 shares in the last quarter. Bell Rock Capital LLC acquired a new stake in shares of Stitch Fix during the 2nd quarter valued at about $51,000. Valeo Financial Advisors LLC boosted its position in shares of Stitch Fix by 27.3% during the 3rd quarter. Valeo Financial Advisors LLC now owns 2,749 shares of the company’s stock valued at $53,000 after acquiring an additional 590 shares in the last quarter. AdvisorNet Financial Inc boosted its position in shares of Stitch Fix by 52.8% during the 3rd quarter. AdvisorNet Financial Inc now owns 2,820 shares of the company’s stock valued at $54,000 after acquiring an additional 975 shares in the last quarter. Finally, Griffin Asset Management Inc. bought a new stake in Stitch Fix in the second quarter valued at about $63,000. 41.77% of the stock is currently owned by hedge funds and other institutional investors.

About Stitch Fix

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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Analyst Recommendations for Stitch Fix (NASDAQ:SFIX)

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