Robert W. Baird Begins Coverage on Stitch Fix (NASDAQ:SFIX)

Robert W. Baird started coverage on shares of Stitch Fix (NASDAQ:SFIX) in a report published on Tuesday morning, BenzingaRatingsTable reports. The brokerage issued an outperform rating and a $28.00 price target on the stock.

Other equities analysts have also recently issued reports about the stock. Barclays reduced their price target on shares of Stitch Fix from $32.00 to $22.00 and set an equal weight rating on the stock in a research report on Wednesday, October 2nd. Wells Fargo & Co reduced their price target on shares of Stitch Fix from $30.00 to $20.00 and set a market perform rating on the stock in a research report on Wednesday, October 2nd. Royal Bank of Canada reduced their price target on shares of Stitch Fix from $43.00 to $38.00 and set an outperform rating on the stock in a research report on Wednesday, October 2nd. Needham & Company LLC started coverage on shares of Stitch Fix in a research report on Monday, July 1st. They set a hold rating on the stock. Finally, TheStreet cut shares of Stitch Fix from a c- rating to a d rating in a research report on Thursday, August 22nd. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Stitch Fix has a consensus rating of Hold and a consensus price target of $28.67.

Shares of NASDAQ SFIX traded down $0.40 during midday trading on Tuesday, reaching $23.01. 1,857,970 shares of the stock were exchanged, compared to its average volume of 4,008,917. The business has a 50-day simple moving average of $19.81 and a two-hundred day simple moving average of $24.61. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of 63.92, a P/E/G ratio of 32.08 and a beta of 3.33. Stitch Fix has a 12 month low of $16.05 and a 12 month high of $37.72.

Stitch Fix (NASDAQ:SFIX) last announced its quarterly earnings results on Tuesday, October 1st. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. The company had revenue of $432.10 million for the quarter, compared to analysts’ expectations of $432.44 million. Stitch Fix had a net margin of 2.34% and a return on equity of 10.11%. The business’s quarterly revenue was up 35.8% compared to the same quarter last year. During the same period last year, the firm posted $0.18 earnings per share. Equities research analysts anticipate that Stitch Fix will post 0.03 earnings per share for the current year.

In related news, Director J William Gurley acquired 150,000 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The shares were acquired at an average cost of $23.41 per share, with a total value of $3,511,500.00. Also, COO Mike C. Smith sold 15,000 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $20.41, for a total transaction of $306,150.00. Following the completion of the sale, the chief operating officer now directly owns 62,761 shares in the company, valued at $1,280,952.01. The disclosure for this sale can be found here. Insiders sold a total of 246,000 shares of company stock worth $5,154,720 over the last ninety days. 56.97% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of SFIX. BlackRock Inc. increased its stake in Stitch Fix by 562.1% in the 2nd quarter. BlackRock Inc. now owns 2,605,848 shares of the company’s stock valued at $83,361,000 after buying an additional 2,212,289 shares during the last quarter. Baillie Gifford & Co. increased its stake in Stitch Fix by 23.3% in the 2nd quarter. Baillie Gifford & Co. now owns 4,488,246 shares of the company’s stock valued at $143,580,000 after buying an additional 849,117 shares during the last quarter. Marshall Wace LLP increased its stake in Stitch Fix by 2,125.9% in the 2nd quarter. Marshall Wace LLP now owns 507,025 shares of the company’s stock valued at $16,220,000 after buying an additional 484,247 shares during the last quarter. CIBC Private Wealth Group LLC acquired a new stake in Stitch Fix in the 3rd quarter valued at $8,395,000. Finally, Steadfast Capital Management LP increased its stake in Stitch Fix by 16.3% in the 2nd quarter. Steadfast Capital Management LP now owns 2,234,029 shares of the company’s stock valued at $71,467,000 after buying an additional 313,296 shares during the last quarter. Hedge funds and other institutional investors own 39.43% of the company’s stock.

About Stitch Fix

Stitch Fix, Inc sells a range of apparel, shoes, and accessories through its Website and mobile app 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. and changed its name to Stitch Fix, Inc in October 2011.

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Analyst Recommendations for Stitch Fix (NASDAQ:SFIX)

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