Telsey Advisory Group Increases Stitch Fix (NASDAQ:SFIX) Price Target to $6.00

Stitch Fix (NASDAQ:SFIX) had its price objective increased by research analysts at Telsey Advisory Group from $4.00 to $6.00 in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The brokerage presently has a “market perform” rating on the stock. Telsey Advisory Group’s price objective points to a potential upside of 29.03% from the stock’s previous close.

SFIX has been the topic of a number of other reports. UBS Group raised their price objective on shares of Stitch Fix from $2.80 to $5.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Canaccord Genuity Group lifted their price objective on Stitch Fix from $3.50 to $5.00 and gave the stock a “hold” rating in a research note on Monday, December 2nd. Two equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $3.96.

Stitch Fix Price Performance

Shares of Stitch Fix stock opened at $4.65 on Wednesday. The firm has a 50 day simple moving average of $3.69 and a 200 day simple moving average of $3.71. Stitch Fix has a fifty-two week low of $2.06 and a fifty-two week high of $6.99. The firm has a market cap of $589.80 million, a P/E ratio of -4.31 and a beta of 1.99.

Stitch Fix (NASDAQ:SFIX) last issued its quarterly earnings results on Tuesday, December 10th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.09. The business had revenue of $318.82 million for the quarter, compared to analyst estimates of $306.88 million. Stitch Fix had a negative return on equity of 40.62% and a negative net margin of 9.63%. The firm’s revenue for the quarter was down 12.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.30) earnings per share. On average, sell-side analysts expect that Stitch Fix will post -0.61 EPS for the current year.

Institutional Investors Weigh In On Stitch Fix

Several large investors have recently made changes to their positions in the stock. Disciplined Growth Investors Inc. MN increased its holdings in Stitch Fix by 48.1% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 13,734,485 shares of the company’s stock worth $38,731,000 after purchasing an additional 4,460,668 shares in the last quarter. Hodges Capital Management Inc. boosted its position in shares of Stitch Fix by 286.2% during the second quarter. Hodges Capital Management Inc. now owns 2,511,100 shares of the company’s stock worth $10,421,000 after buying an additional 1,860,950 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in Stitch Fix in the 3rd quarter valued at approximately $2,862,000. Renaissance Technologies LLC lifted its stake in Stitch Fix by 11.7% in the 2nd quarter. Renaissance Technologies LLC now owns 4,432,600 shares of the company’s stock valued at $18,395,000 after acquiring an additional 465,900 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its holdings in shares of Stitch Fix by 2,253.6% in the third quarter. Public Employees Retirement System of Ohio now owns 146,750 shares of the company’s stock valued at $414,000 after purchasing an additional 140,515 shares during the last quarter. Institutional investors own 71.04% of the company’s stock.

About Stitch Fix

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.