Truist Financial Trims Stitch Fix (NASDAQ:SFIX) Target Price to $4.00

Stitch Fix (NASDAQ:SFIX) had its target price lowered by investment analysts at Truist Financial from $4.60 to $4.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial’s price objective suggests a potential upside of 22.70% from the company’s current price.

A number of other equities analysts have also issued reports on SFIX. Telsey Advisory Group decreased their target price on shares of Stitch Fix from $5.00 to $4.00 and set a “market perform” rating for the company in a research report on Tuesday. Piper Sandler lowered their price objective on shares of Stitch Fix from $3.00 to $2.50 and set an “underweight” rating on the stock in a research note on Tuesday. Robert W. Baird cut their target price on Stitch Fix from $5.00 to $3.50 and set a “neutral” rating for the company in a research report on Tuesday. Morgan Stanley lowered their price target on Stitch Fix from $4.00 to $3.75 and set an “equal weight” rating on the stock in a research report on Tuesday. Finally, Barclays cut their price objective on Stitch Fix from $4.00 to $3.00 and set an “equal weight” rating for the company in a report on Tuesday. Two investment analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $4.18.

Stitch Fix Price Performance

Shares of NASDAQ SFIX traded up $0.21 during midday trading on Tuesday, hitting $3.26. 2,336,843 shares of the company’s stock were exchanged, compared to its average volume of 2,702,052. Stitch Fix has a twelve month low of $2.63 and a twelve month high of $6.03. The firm has a market cap of $370.89 million, a P/E ratio of -1.50 and a beta of 2.24. The stock’s 50 day moving average price is $4.12 and its 200-day moving average price is $4.10.

Stitch Fix (NASDAQ:SFIX) last announced its quarterly earnings results on Monday, September 18th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.03). The business had revenue of $375.80 million for the quarter, compared to analyst estimates of $371.24 million. Stitch Fix had a negative return on equity of 63.69% and a negative net margin of 13.74%. The company’s revenue was down 22.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.65) EPS. On average, analysts expect that Stitch Fix will post -1.18 EPS for the current fiscal year.

Insider Activity at Stitch Fix

In other Stitch Fix news, insider Casey O’connor sold 9,262 shares of the stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $4.21, for a total transaction of $38,993.02. Following the transaction, the insider now directly owns 284,346 shares of the company’s stock, valued at $1,197,096.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 28.51% of the stock is owned by company insiders.

Institutional Investors Weigh In On Stitch Fix

A number of large investors have recently added to or reduced their stakes in SFIX. Divisar Capital Management LLC lifted its stake in shares of Stitch Fix by 214.7% in the second quarter. Divisar Capital Management LLC now owns 3,738,885 shares of the company’s stock worth $14,395,000 after buying an additional 2,550,906 shares during the last quarter. Potrero Capital Research LLC raised its holdings in Stitch Fix by 178.0% in the 1st quarter. Potrero Capital Research LLC now owns 3,679,558 shares of the company’s stock worth $18,803,000 after acquiring an additional 2,355,827 shares during the period. Balyasny Asset Management L.P. acquired a new position in Stitch Fix during the 1st quarter worth $7,557,000. Federated Hermes Inc. boosted its holdings in Stitch Fix by 212.1% during the first quarter. Federated Hermes Inc. now owns 1,825,064 shares of the company’s stock valued at $18,378,000 after acquiring an additional 1,240,320 shares during the period. Finally, BlackRock Inc. grew its position in shares of Stitch Fix by 14.5% in the second quarter. BlackRock Inc. now owns 9,414,481 shares of the company’s stock valued at $36,246,000 after purchasing an additional 1,190,244 shares during the last quarter. Institutional investors own 67.49% of the company’s stock.

Stitch Fix Company Profile

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.