Stitch Fix (NASDAQ:SFIX) Price Target Cut to $5.50 by Analysts at Robert W. Baird

Stitch Fix (NASDAQ:SFIXGet Rating) had its price target reduced by Robert W. Baird from $7.00 to $5.50 in a research report report published on Wednesday, The Fly reports.

Several other brokerages have also recently commented on SFIX. Telsey Advisory Group decreased their price target on shares of Stitch Fix from $8.00 to $6.00 and set a market perform rating on the stock in a research note on Wednesday. Wedbush decreased their price target on shares of Stitch Fix from $9.00 to $7.00 and set a neutral rating on the stock in a research note on Friday, June 10th. JPMorgan Chase & Co. decreased their target price on shares of Stitch Fix from $10.00 to $8.00 and set a neutral rating on the stock in a research report on Friday, June 10th. Barclays decreased their target price on shares of Stitch Fix from $8.00 to $7.00 and set an equal weight rating on the stock in a research report on Monday, August 15th. Finally, Wells Fargo & Company cut their price target on shares of Stitch Fix from $8.00 to $6.00 and set an underweight rating on the stock in a report on Friday, June 10th. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock 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. Stitch Fix has a fifty-two week low of $4.40 and a fifty-two week high of $44.65. The firm’s fifty day moving average is $5.95 and its 200 day moving average is $7.64. The stock has a market cap of $524.63 million, a price-to-earnings ratio of -5.84 and a beta of 1.96.

Insider Activity

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

Hedge Funds Weigh In On Stitch Fix

Institutional investors have recently bought and sold shares of the company. Lazard Asset Management LLC purchased a new stake in shares of Stitch Fix in the 2nd quarter valued at approximately $49,000. Verition Fund Management LLC acquired a new position in shares of Stitch Fix in the second quarter valued at approximately $56,000. Prelude Capital Management LLC acquired a new position in shares of Stitch Fix in the second quarter valued at approximately $63,000. Quantamental Technologies LLC acquired a new position in shares of Stitch Fix in the second quarter valued at approximately $65,000. Finally, TrinityPoint Wealth LLC acquired a new position in shares of Stitch Fix in the second quarter valued at approximately $70,000. 73.41% of the stock is owned by hedge funds and other institutional investors.

About Stitch Fix

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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

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Analyst Recommendations for Stitch Fix (NASDAQ:SFIX)

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