Stitch Fix, Inc. (NASDAQ:SFIX) – Investment analysts at KeyCorp raised their FY2021 earnings per share estimates for shares of Stitch Fix in a research note issued on Monday, June 7th. KeyCorp analyst E. Yruma now anticipates that the company will post earnings of ($0.42) per share for the year, up from their prior estimate of ($0.48). KeyCorp currently has a “Overweight” rating and a $75.00 target price on the stock. KeyCorp also issued estimates for Stitch Fix’s FY2022 earnings at ($0.38) EPS.
Several other analysts have also recently commented on the stock. Truist Securities lifted their price objective on shares of Stitch Fix from $60.00 to $77.00 and gave the company a “buy” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $54.00 price objective on shares of Stitch Fix in a research report on Monday, March 15th. Truist upped their price objective on shares of Stitch Fix from $60.00 to $77.00 and gave the stock a “buy” rating in a research report on Tuesday. Needham & Company LLC upped their price objective on shares of Stitch Fix from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, March 9th. Finally, Piper Sandler upped their price objective on shares of Stitch Fix from $47.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday. Three analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $88.30.
Stitch Fix (NASDAQ:SFIX) last released its earnings results on Sunday, June 6th. The company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.09. Stitch Fix had a negative net margin of 4.97% and a negative return on equity of 21.32%.
In other Stitch Fix news, insider Scott Darling sold 4,177 shares of the stock in a transaction dated Monday, March 22nd. The shares were sold at an average price of $51.68, for a total transaction of $215,867.36. Following the completion of the transaction, the insider now owns 57,226 shares of the company’s stock, valued at $2,957,439.68. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mike C. Smith sold 40,000 shares of the stock in a transaction dated Thursday, April 15th. The stock was sold at an average price of $45.81, for a total transaction of $1,832,400.00. Following the transaction, the director now directly owns 87,356 shares of the company’s stock, valued at approximately $4,001,778.36. The disclosure for this sale can be found here. Insiders sold 434,093 shares of company stock valued at $21,090,607 in the last three months. 45.10% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the business. Salem Investment Counselors Inc. purchased a new position in Stitch Fix during the fourth quarter worth about $44,000. Invictus RG acquired a new stake in shares of Stitch Fix during the fourth quarter worth about $58,000. Burleson & Company LLC acquired a new stake in shares of Stitch Fix during the first quarter worth about $50,000. Financial Avengers Inc. acquired a new stake in shares of Stitch Fix during the fourth quarter worth about $100,000. Finally, Truvestments Capital LLC acquired a new stake in shares of Stitch Fix during the fourth quarter worth about $126,000. 54.58% of the stock is owned by institutional investors.
Stitch Fix Company Profile
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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