BMO Capital Markets Lowers Stitch Fix (NASDAQ:SFIX) Price Target to $5.00

Stitch Fix (NASDAQ:SFIXGet Rating) had its price target reduced by equities researchers at BMO Capital Markets from $6.00 to $5.00 in a research report issued on Wednesday, The Fly reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ price objective suggests a potential upside of 19.76% from the company’s current price.

A number of other analysts have also commented on SFIX. UBS Group reissued a “hold” rating and set a $10.00 price objective on shares of Stitch Fix in a report on Friday, June 10th. Evercore ISI reduced their target price on Stitch Fix from $13.00 to $10.00 and set an “in-line” rating for the company in a report on Friday, June 10th. Barclays reduced their target price on Stitch Fix from $8.00 to $7.00 and set an “equal weight” rating for the company in a report on Monday, August 15th. Robert W. Baird dropped their price objective on Stitch Fix from $11.00 to $7.00 in a research note on Monday, June 13th. Finally, Wells Fargo & Company dropped their price objective on Stitch Fix from $8.00 to $6.00 and set an “underweight” rating on the stock in a research note on Friday, June 10th. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $9.45.

Stitch Fix Price Performance

Shares of Stitch Fix stock opened at $4.18 on Wednesday. Stitch Fix has a one year low of $3.99 and a one year high of $44.65. The firm has a market capitalization of $451.61 million, a price-to-earnings ratio of -2.19 and a beta of 1.96. The business has a 50-day simple moving average of $5.92 and a 200 day simple moving average of $7.59.

Insider Activity

In related news, Director J William Gurley acquired 1,000,000 shares of Stitch Fix stock in a transaction dated Friday, July 8th. The shares were purchased 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 owns 2,149,762 shares of the company’s stock, valued at $11,673,207.66. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 27.01% of the company’s stock.

Institutional Trading of Stitch Fix

Several institutional investors and hedge funds have recently bought and sold shares of SFIX. Slate Path Capital LP lifted its holdings in Stitch Fix by 43.6% in the fourth quarter. Slate Path Capital LP now owns 4,282,056 shares of the company’s stock worth $81,016,000 after buying an additional 1,300,000 shares during the period. Federated Hermes Inc. lifted its holdings in shares of 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 purchasing an additional 1,240,320 shares during the last quarter. Quinn Opportunity Partners LLC lifted its holdings in shares of Stitch Fix by 3,411.1% during the fourth quarter. Quinn Opportunity Partners LLC now owns 1,204,226 shares of the company’s stock valued at $22,784,000 after purchasing an additional 1,169,928 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Stitch Fix by 59.4% during the second quarter. Renaissance Technologies LLC now owns 2,697,576 shares of the company’s stock valued at $13,326,000 after purchasing an additional 1,005,176 shares during the last quarter. Finally, Bares Capital Management Inc. lifted its holdings in shares of Stitch Fix by 74.6% during the fourth quarter. Bares Capital Management Inc. now owns 2,209,283 shares of the company’s stock valued at $41,800,000 after purchasing an additional 944,240 shares during the last quarter. 73.41% of the stock is currently owned by hedge funds and other institutional investors.

Stitch Fix Company Profile

(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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