Stitch Fix (NASDAQ:SFIX) Given New $4.50 Price Target at Canaccord Genuity Group

Stitch Fix (NASDAQ:SFIX) had its price target upped by Canaccord Genuity Group from $3.50 to $4.50 in a research note published on Thursday morning, Benzinga reports. The brokerage currently has a hold rating on the stock.

Other research analysts have also recently issued reports about the stock. Mizuho boosted their price target on shares of Stitch Fix from $2.00 to $3.00 and gave the stock an underperform rating in a report on Monday, June 10th. UBS Group assumed coverage on shares of Stitch Fix in a research report on Monday, April 8th. They issued a neutral rating and a $2.80 price objective on the stock. Wells Fargo & Company lowered their price objective on shares of Stitch Fix from $3.50 to $3.00 and set an equal weight rating on the stock in a research report on Tuesday, March 5th. Piper Sandler lowered their price objective on shares of Stitch Fix from $3.00 to $2.25 and set an underweight rating on the stock in a research report on Tuesday, March 5th. Finally, Sanford C. Bernstein lowered their price objective on shares of Stitch Fix from $4.00 to $3.40 and set a market perform rating on the stock in a research report on Tuesday, March 5th. Two equities research analysts have rated the stock with a sell rating and ten have issued a hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $3.37.

Stitch Fix Trading Up 2.2 %

SFIX opened at $4.15 on Thursday. Stitch Fix has a 1-year low of $2.06 and a 1-year high of $5.20. The company has a market cap of $507.71 million, a P/E ratio of -4.07 and a beta of 1.98. The company has a fifty day moving average price of $2.83 and a two-hundred day moving average price of $2.99.

Stitch Fix (NASDAQ:SFIX) last posted its quarterly earnings results on Tuesday, June 4th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $322.73 million during the quarter, compared to the consensus estimate of $305.93 million. On average, research analysts forecast that Stitch Fix will post -0.73 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Sarah Barkema sold 30,000 shares of the 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 completion of the transaction, the chief accounting officer now directly owns 108,535 shares in the company, valued at approximately $405,920.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 25.90% of the stock is owned by company insiders.

Institutional Trading of Stitch Fix

Institutional investors have recently made changes to their positions in the stock. Swiss National Bank boosted its holdings in shares of Stitch Fix by 2.4% in the third quarter. Swiss National Bank now owns 155,400 shares of the company’s stock worth $536,000 after buying an additional 3,700 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Stitch Fix by 2.7% during the fourth quarter. Russell Investments Group Ltd. now owns 172,135 shares of the company’s stock valued at $615,000 after buying an additional 4,545 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Stitch Fix by 6.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 84,451 shares of the company’s stock valued at $223,000 after buying an additional 5,404 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Stitch Fix by 50.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,146 shares of the company’s stock valued at $61,000 after buying an additional 5,718 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of Stitch Fix by 232.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,898 shares of the company’s stock valued at $39,000 after buying an additional 7,617 shares during the last quarter. Hedge funds and other institutional investors own 71.04% of the company’s stock.

Stitch Fix Company Profile

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.