Stitch Fix (NASDAQ:SFIX) Rating Increased to Buy at Goldman Sachs Group

Goldman Sachs Group upgraded shares of Stitch Fix (NASDAQ:SFIX) from a neutral rating to a buy rating in a research report report published on Friday morning, BenzingaRatingsTable reports. They currently have $38.00 price target on the stock.

Several other research firms have also issued reports on SFIX. TheStreet upgraded Stitch Fix from a d rating to a c- rating in a research report on Wednesday, June 26th. Zacks Investment Research lowered Zynerba Pharmaceuticals from a buy rating to a hold rating in a research report on Saturday, June 8th. JPMorgan Chase & Co. set a €49.00 ($56.98) target price on Deutsche Wohnen and gave the stock a buy rating in a research report on Thursday, June 6th. SunTrust Banks boosted their target price on Stitch Fix from $43.00 to $44.00 and gave the stock a buy rating in a research report on Thursday, June 6th. Finally, Royal Bank of Canada decreased their target price on Stitch Fix from $52.00 to $43.00 and set an outperform rating for the company in a research report on Tuesday, July 2nd. Eight investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $35.40.

Stitch Fix stock opened at $28.57 on Friday. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of 73.26, a P/E/G ratio of 3.81 and a beta of 3.25. Stitch Fix has a 1 year low of $16.05 and a 1 year high of $52.44. The stock’s 50-day moving average is $28.66.

Stitch Fix (NASDAQ:SFIX) last posted its earnings results on Wednesday, June 5th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.10. The company had revenue of $409.00 million during the quarter, compared to analyst estimates of $395.06 million. Stitch Fix had a return on equity of 13.77% and a net margin of 3.27%. The company’s revenue for the quarter was up 29.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.09 EPS. As a group, sell-side analysts anticipate that Stitch Fix will post 0.32 earnings per share for the current fiscal year.

In other news, insider Scott Darling sold 2,000 shares of Stitch Fix stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $27.08, for a total transaction of $54,160.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Alexandre Balkanski sold 191,332 shares of Stitch Fix stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $28.05, for a total value of $5,366,862.60. The disclosure for this sale can be found here. Insiders have sold a total of 1,017,037 shares of company stock worth $29,094,517 in the last quarter. 56.97% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in SFIX. Weaver Consulting Group bought a new position in shares of Stitch Fix during the 1st quarter valued at about $28,000. Botty Investors LLC bought a new stake in Stitch Fix in the 1st quarter valued at approximately $61,000. Valeo Financial Advisors LLC lifted its stake in Stitch Fix by 30.3% in the 2nd quarter. Valeo Financial Advisors LLC now owns 2,159 shares of the company’s stock valued at $69,000 after acquiring an additional 502 shares in the last quarter. Victory Capital Management Inc. bought a new stake in Stitch Fix in the 1st quarter valued at approximately $134,000. Finally, FNY Investment Advisers LLC bought a new stake in Stitch Fix in the 1st quarter valued at approximately $141,000. Institutional investors and hedge funds own 29.24% of the company’s stock.

Stitch Fix Company Profile

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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