Robert W. Baird Increases Stitch Fix (NASDAQ:SFIX) Price Target to $70.00

Stitch Fix (NASDAQ:SFIX) had its price target hoisted by Robert W. Baird from $60.00 to $70.00 in a report issued on Tuesday morning, The Fly reports. They currently have a neutral rating on the stock.

Other equities analysts have also issued reports about the company. Truist lifted their price objective on Stitch Fix from $52.00 to $60.00 in a research note on Tuesday, March 9th. Canaccord Genuity boosted their price target on Stitch Fix from $68.00 to $76.00 and gave the company a buy rating in a research note on Tuesday. Telsey Advisory Group boosted their price target on Stitch Fix from $54.00 to $84.00 and gave the company an outperform rating in a research note on Thursday, March 4th. Evercore ISI assumed coverage on Stitch Fix in a research note on Tuesday, April 6th. They issued an outperform rating and a $78.00 price target on the stock. Finally, KeyCorp dropped their price target on Stitch Fix to $75.00 and set an overweight rating on the stock in a research note on Tuesday, March 9th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. Stitch Fix currently has a consensus rating of Hold and an average target price of $88.30.

Stitch Fix stock opened at $63.03 on Tuesday. The business has a 50 day moving average of $48.31. The firm has a market capitalization of $6.70 billion, a price-to-earnings ratio of -71.63 and a beta of 2.04. Stitch Fix has a one year low of $21.60 and a one year high of $113.76.

Stitch Fix (NASDAQ:SFIX) last posted its quarterly earnings data on Sunday, June 6th. The company reported ($0.18) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.27) by $0.09. Stitch Fix had a negative return on equity of 21.32% and a negative net margin of 4.97%. As a group, sell-side analysts anticipate that Stitch Fix will post -0.59 EPS for the current fiscal year.

In related news, President Elizabeth Spaulding sold 6,340 shares of the company’s stock in a transaction on Tuesday, June 8th. The stock was sold at an average price of $66.72, for a total transaction of $423,004.80. Following the completion of the sale, the president now owns 238,949 shares in the company, valued at $15,942,677.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Katrina Lake sold 43,774 shares of the company’s stock in a transaction on Wednesday, March 17th. The stock was sold at an average price of $53.92, for a total value of $2,360,294.08. The disclosure for this sale can be found here. Insiders have sold 434,093 shares of company stock valued at $21,090,607 in the last quarter. 45.10% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the stock. Oxinas Partners Wealth Management LLC grew its holdings in Stitch Fix by 8.9% during the first quarter. Oxinas Partners Wealth Management LLC now owns 5,465 shares of the company’s stock worth $271,000 after buying an additional 448 shares in the last quarter. Great West Life Assurance Co. Can grew its stake in Stitch Fix by 13.7% in the 1st quarter. Great West Life Assurance Co. Can now owns 3,847 shares of the company’s stock valued at $189,000 after purchasing an additional 463 shares during the period. Truvestments Capital LLC grew its stake in Stitch Fix by 24.0% in the 1st quarter. Truvestments Capital LLC now owns 2,679 shares of the company’s stock valued at $133,000 after purchasing an additional 518 shares during the period. Aperio Group LLC grew its stake in Stitch Fix by 4.1% in the 4th quarter. Aperio Group LLC now owns 13,676 shares of the company’s stock valued at $803,000 after purchasing an additional 536 shares during the period. Finally, Amalgamated Bank grew its stake in Stitch Fix by 7.7% in the 4th quarter. Amalgamated Bank now owns 8,776 shares of the company’s stock valued at $515,000 after purchasing an additional 630 shares during the period. Institutional investors and hedge funds own 54.58% of the company’s stock.

About Stitch Fix

Stitch Fix, Inc sells a range of apparel, shoes, and accessories through its Website and mobile application 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.

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