Stitch Fix (NASDAQ:SFIX) Given New $6.00 Price Target at Telsey Advisory Group

Stitch Fix (NASDAQ:SFIXGet Rating) had its price target reduced by Telsey Advisory Group from $8.00 to $6.00 in a research report report published on Wednesday, MarketBeat Ratings reports. They currently have a market perform rating on the stock.

Several other analysts have also recently commented on SFIX. Wells Fargo & Company decreased their price target on shares of Stitch Fix from $8.00 to $6.00 and set an underweight rating on the stock in a research note on Friday, June 10th. Barclays decreased their price target on shares of Stitch Fix from $8.00 to $7.00 and set an equal weight rating on the stock in a research note on Monday, August 15th. Morgan Stanley decreased their price target on shares of Stitch Fix from $9.00 to $5.00 and set an equal weight rating on the stock in a research note on Friday, June 10th. UBS Group restated a hold rating and set a $10.00 target price on shares of Stitch Fix in a research report on Friday, June 10th. Finally, MKM Partners restated a neutral rating and set a $6.00 target price on shares of Stitch Fix in a research report on Thursday, July 28th. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Stitch Fix currently has a consensus rating of Hold and an average target price of $12.58.

Stitch Fix Stock Up 2.8 %

Shares of SFIX stock opened at $4.85 on Wednesday. The stock has a market cap of $524.63 million, a P/E ratio of -5.84 and a beta of 1.96. Stitch Fix has a 52 week low of $4.40 and a 52 week high of $44.65. The company’s fifty day simple moving average is $5.95 and its two-hundred day simple moving average is $7.64.

Insiders Place Their Bets

In related news, Director J William Gurley bought 1,000,000 shares of the company’s stock in a transaction on Friday, July 8th. The shares were acquired at an average cost of $5.43 per share, for a total transaction of $5,430,000.00. Following the purchase, the director now directly owns 2,149,762 shares of the company’s stock, valued at $11,673,207.66. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 27.01% of the company’s stock.

Hedge Funds Weigh In On Stitch Fix

A number of hedge funds have recently added to or reduced their stakes in SFIX. Slate Path Capital LP grew its stake in Stitch Fix by 43.6% in the 4th quarter. Slate Path Capital LP now owns 4,282,056 shares of the company’s stock worth $81,016,000 after acquiring an additional 1,300,000 shares in the last quarter. Federated Hermes Inc. grew its stake in Stitch Fix by 212.1% in the 1st quarter. Federated Hermes Inc. now owns 1,825,064 shares of the company’s stock worth $18,378,000 after acquiring an additional 1,240,320 shares in the last quarter. Quinn Opportunity Partners LLC boosted its stake in shares of Stitch Fix by 3,411.1% during the fourth quarter. Quinn Opportunity Partners LLC now owns 1,204,226 shares of the company’s stock valued at $22,784,000 after purchasing an additional 1,169,928 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Stitch Fix by 59.4% during the second quarter. Renaissance Technologies LLC now owns 2,697,576 shares of the company’s stock valued at $13,326,000 after purchasing an additional 1,005,176 shares in the last quarter. Finally, Bares Capital Management Inc. boosted its stake in shares of Stitch Fix by 74.6% during the fourth quarter. Bares Capital Management Inc. now owns 2,209,283 shares of the company’s stock valued at $41,800,000 after purchasing an additional 944,240 shares in the last quarter. 73.41% of the stock is currently owned by institutional investors.

Stitch Fix Company Profile

(Get Rating)

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.

Further Reading

Analyst Recommendations for Stitch Fix (NASDAQ:SFIX)

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