Stitch Fix (NASDAQ:SFIX) Rating Lowered to Hold at Canaccord Genuity Group

Canaccord Genuity Group downgraded shares of Stitch Fix (NASDAQ:SFIXGet Rating) from a buy rating to a hold rating in a research note published on Wednesday, MarketBeat.com reports. Canaccord Genuity Group currently has $7.00 price target on the stock, down from their previous price target of $12.00.

A number of other equities research analysts also recently issued reports on SFIX. JPMorgan Chase & Co. lowered their price objective on Stitch Fix from $10.00 to $8.00 and set a neutral rating on the stock in a research report on Friday, June 10th. Wedbush lowered their price objective on Stitch Fix from $9.00 to $7.00 and set a neutral rating on the stock in a research report on Friday, June 10th. Stifel Nicolaus lowered their price objective on Stitch Fix from $7.00 to $6.00 and set a hold rating on the stock in a research report on Wednesday. Piper Sandler restated an underweight rating on shares of Stitch Fix in a research report on Friday, July 22nd. Finally, KeyCorp initiated coverage on Stitch Fix in a research report on Thursday, July 21st. They set a sector weight rating on the stock. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Stitch Fix presently has a consensus rating of Hold and an average price target of $12.58.

Stitch Fix Stock Performance

Shares of SFIX stock opened at $4.85 on Wednesday. Stitch Fix has a 52-week low of $4.40 and a 52-week high of $44.65. The company has a market capitalization of $524.63 million, a PE ratio of -5.84 and a beta of 1.96. The business’s fifty day moving average is $5.95 and its 200 day moving average is $7.64.

Insider Buying and Selling

In other Stitch Fix news, Director J William Gurley bought 1,000,000 shares of the business’s stock in a transaction that occurred 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 27.01% of the stock is owned by insiders.

Institutional Trading of Stitch Fix

Large investors have recently modified their holdings of the business. Lazard Asset Management LLC purchased a new stake in Stitch Fix in the second quarter worth about $49,000. Verition Fund Management LLC purchased a new stake in Stitch Fix in the second quarter worth about $56,000. Prelude Capital Management LLC purchased a new stake in Stitch Fix in the second quarter worth about $63,000. Quantamental Technologies LLC purchased a new stake in Stitch Fix in the second quarter worth about $65,000. Finally, TrinityPoint Wealth LLC purchased a new stake in Stitch Fix in the second quarter worth about $70,000. 73.41% of the stock is owned by 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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Analyst Recommendations for Stitch Fix (NASDAQ:SFIX)

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