Stitch Fix (NASDAQ:SFIX) Price Target Cut to $4.00 by Analysts at Morgan Stanley

Stitch Fix (NASDAQ:SFIXGet Rating) had its price objective trimmed by Morgan Stanley from $5.00 to $4.00 in a research report sent to investors on Wednesday, The Fly reports. The brokerage currently has an equal weight rating on the stock.

SFIX has been the topic of a number of other research reports. Evercore ISI decreased their price objective on shares of Stitch Fix from $13.00 to $10.00 and set an in-line rating on the stock in a report on Friday, June 10th. BMO Capital Markets decreased their price objective on shares of Stitch Fix from $11.00 to $8.00 in a report on Friday, June 10th. Wedbush decreased their price objective on shares of Stitch Fix from $9.00 to $7.00 and set a neutral rating on the stock in a report on Friday, June 10th. KeyCorp assumed coverage on shares of Stitch Fix in a report on Thursday, July 21st. They set a sector weight rating on the stock. Finally, Robert W. Baird decreased their price objective on shares of Stitch Fix from $11.00 to $7.00 in a report on Monday, June 13th. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $12.58.

Stitch Fix Stock Performance

SFIX opened at $4.85 on Wednesday. The firm’s 50-day simple moving average is $5.95 and its 200-day simple moving average is $7.64. Stitch Fix has a twelve month low of $4.40 and a twelve month high of $44.65. The firm has a market cap of $524.63 million, a price-to-earnings ratio of -5.84 and a beta of 1.96.

Insider Activity at Stitch Fix

In other news, Director J William Gurley purchased 1,000,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 2,149,762 shares of the company’s stock, valued at approximately $11,673,207.66. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 27.01% of the stock is currently owned by corporate insiders.

Institutional Trading of Stitch Fix

A number of hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. raised its position in shares of Stitch Fix by 11.7% in the 4th quarter. Principal Financial Group Inc. now owns 13,849 shares of the company’s stock valued at $262,000 after acquiring an additional 1,453 shares during the period. Raymond James Financial Services Advisors Inc. raised its holdings in Stitch Fix by 20.4% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 10,005 shares of the company’s stock worth $189,000 after buying an additional 1,697 shares during the period. PDT Partners LLC raised its holdings in Stitch Fix by 2.9% during the 4th quarter. PDT Partners LLC now owns 68,235 shares of the company’s stock worth $1,291,000 after buying an additional 1,935 shares during the period. Captrust Financial Advisors raised its holdings in Stitch Fix by 9.3% during the 2nd quarter. Captrust Financial Advisors now owns 24,541 shares of the company’s stock worth $121,000 after buying an additional 2,094 shares during the period. Finally, Hsbc Holdings PLC raised its holdings in Stitch Fix by 17.8% during the 1st quarter. Hsbc Holdings PLC now owns 16,151 shares of the company’s stock worth $165,000 after buying an additional 2,445 shares during the period. 73.41% of the stock is currently owned by institutional investors and hedge funds.

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.

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