Morgan Stanley Boosts Stitch Fix (NASDAQ:SFIX) Price Target to $4.00

Stitch Fix (NASDAQ:SFIX – Get Rating) had its price objective lifted by Morgan Stanley from $3.00 to $4.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective suggests a potential downside of 3.15% from the stock’s current price.

Several other research analysts have also issued reports on SFIX. Canaccord Genuity Group lowered shares of Stitch Fix from a “buy” rating to a “hold” rating and cut their target price for the stock from $12.00 to $7.00 in a research report on Wednesday, September 21st. BMO Capital Markets cut their target price on shares of Stitch Fix from $6.00 to $5.00 and set a “market perform” rating for the company in a research report on Wednesday, September 21st. JPMorgan Chase & Co. downgraded shares of Stitch Fix from a “neutral” rating to an “underweight” rating in a research note on Tuesday, December 20th. Robert W. Baird lowered their price target on shares of Stitch Fix from $7.00 to $5.50 in a research note on Wednesday, September 21st. Finally, MKM Partners lowered their price target on shares of Stitch Fix from $6.00 to $5.00 and set a “neutral” rating for the company in a research note on Wednesday, September 21st. Two analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $6.34.

Stitch Fix Stock Performance

Shares of NASDAQ:SFIX opened at $4.13 on Wednesday. Stitch Fix has a 52-week low of $2.63 and a 52-week high of $17.16. The firm has a fifty day moving average of $3.73 and a 200 day moving average of $4.62. The firm has a market capitalization of $457.63 million, a PE ratio of -1.73 and a beta of 1.93.

Hedge Funds Weigh In On Stitch Fix

A number of institutional investors have recently bought and sold shares of the stock. Captrust Financial Advisors raised its stake in Stitch Fix by 9.3% in the second quarter. Captrust Financial Advisors now owns 24,541 shares of the company’s stock worth $121,000 after buying an additional 2,094 shares in the last quarter. Hsbc Holdings PLC raised its stake in Stitch Fix by 17.8% in the first quarter. Hsbc Holdings PLC now owns 16,151 shares of the company’s stock worth $165,000 after buying an additional 2,445 shares in the last quarter. Guggenheim Capital LLC raised its stake in Stitch Fix by 20.9% in the third quarter. Guggenheim Capital LLC now owns 14,512 shares of the company’s stock worth $58,000 after buying an additional 2,510 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in Stitch Fix by 64.0% in the third quarter. Public Employees Retirement System of Ohio now owns 6,515 shares of the company’s stock worth $26,000 after buying an additional 2,543 shares in the last quarter. Finally, Trillium Asset Management LLC raised its stake in Stitch Fix by 2.9% in the second quarter. Trillium Asset Management LLC now owns 103,397 shares of the company’s stock worth $511,000 after buying an additional 2,878 shares in the last quarter. 68.38% of the stock is owned by institutional investors.

About Stitch Fix

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Stitch Fix, Inc sells a range of apparel, shoes, and accessories for men, women, and kids through its website and mobile application in the United States and the United Kingdom. It offers denim, dresses, blouses, skirts, shoes, jewelry, and handbags under the Stitch Fix brand. The company was formerly known as rack habit inc.