Stitch Fix (NASDAQ:SFIX) Price Target Cut to $7.00 by Analysts at Evercore ISI

Stitch Fix (NASDAQ:SFIXGet Rating) had its price target decreased by Evercore ISI from $10.00 to $7.00 in a research note released on Wednesday, The Fly reports. Evercore ISI currently has an in-line rating on the stock.

Other analysts have also issued research reports about the stock. Wells Fargo & Company dropped 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 report on Friday, June 10th. Barclays dropped 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. Stifel Nicolaus dropped their target price on shares of Stitch Fix from $7.00 to $6.00 and set a hold rating on the stock in a research report on Wednesday. KeyCorp started coverage on shares of Stitch Fix in a research report on Thursday, July 21st. They issued a sector weight rating on the stock. Finally, MKM Partners reiterated a neutral rating and issued a $6.00 target price on shares of Stitch Fix in a research report on Thursday, July 28th. 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 company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $12.58.

Stitch Fix Stock Performance

SFIX stock opened at $4.85 on Wednesday. The firm has a market cap of $524.63 million, a PE ratio of -5.84 and a beta of 1.96. The firm’s fifty day moving average is $5.95 and its 200 day moving average is $7.64. Stitch Fix has a one year low of $4.40 and a one year high of $44.65.

Insiders Place Their Bets

In other news, Director J William Gurley bought 1,000,000 shares of Stitch Fix stock in a transaction on Friday, July 8th. The shares were bought at an average cost of $5.43 per share, with a total value of $5,430,000.00. Following the completion of 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 27.01% of the stock is owned by insiders.

Hedge Funds Weigh In On Stitch Fix

A number of institutional investors have recently bought and sold shares of SFIX. Bank of America Corp DE raised its stake in shares of Stitch Fix by 64.7% in the 4th quarter. Bank of America Corp DE now owns 145,191 shares of the company’s stock valued at $2,746,000 after acquiring an additional 57,038 shares during the period. Raymond James Financial Services Advisors Inc. raised its stake in shares of Stitch Fix by 20.4% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 10,005 shares of the company’s stock valued at $189,000 after acquiring an additional 1,697 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Stitch Fix by 29.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 139,124 shares of the company’s stock valued at $2,632,000 after acquiring an additional 31,394 shares during the period. Principal Financial Group Inc. raised its stake 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. Finally, Teacher Retirement System of Texas raised its stake in shares of Stitch Fix by 26.0% in the 4th quarter. Teacher Retirement System of Texas now owns 13,186 shares of the company’s stock valued at $249,000 after acquiring an additional 2,725 shares during the period. 73.41% of the stock is owned by hedge funds and other institutional investors.

About Stitch Fix

(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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