SunTrust Banks Boosts Stitch Fix (NASDAQ:SFIX) Price Target to $44.00

Stitch Fix (NASDAQ:SFIX) had its price objective hoisted by SunTrust Banks from $43.00 to $44.00 in a research report released on Thursday, June 6th, The Fly reports. SunTrust Banks currently has a buy rating on the stock. SunTrust Banks also issued estimates for Stitch Fix’s Q4 2019 earnings at $0.03 EPS, FY2020 earnings at $0.30 EPS, FY2021 earnings at $0.72 EPS, FY2022 earnings at $1.25 EPS and FY2023 earnings at $1.88 EPS.

A number of other equities analysts also recently commented on SFIX. Zacks Investment Research downgraded Stitch Fix from a buy rating to a hold rating in a research note on Tuesday, March 5th. KeyCorp lifted their target price on Stitch Fix from $38.00 to $40.00 and gave the company an overweight rating in a research note on Tuesday, March 12th. Royal Bank of Canada boosted their price objective on Stitch Fix from $39.00 to $52.00 and gave the stock an outperform rating in a research report on Tuesday, March 12th. Piper Jaffray Companies boosted their price objective on Stitch Fix from $20.00 to $28.00 and gave the stock a neutral rating in a research report on Wednesday, March 13th. Finally, Barclays boosted their price objective on Stitch Fix to $32.00 and gave the stock an equal weight rating in a research report on Wednesday, March 13th. Eight research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Stitch Fix presently has a consensus rating of Hold and a consensus price target of $36.11.

Stitch Fix stock traded down $0.73 during midday trading on Thursday, reaching $31.26. The stock had a trading volume of 2,299,174 shares, compared to its average volume of 2,236,503. The firm has a 50-day moving average price of $27.04. Stitch Fix has a twelve month low of $16.05 and a twelve month high of $52.44. The stock has a market capitalization of $3.23 billion, a PE ratio of 80.15, a PEG ratio of 4.40 and a beta of 3.25.

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

In related news, CEO Katrina Lake sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $23.36, for a total transaction of $2,336,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Marka Hansen sold 6,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $28.51, for a total value of $185,315.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,047,661 shares of company stock worth $29,578,905. 56.97% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. California Public Employees Retirement System boosted its holdings in Stitch Fix by 0.6% in the first quarter. California Public Employees Retirement System now owns 87,981 shares of the company’s stock worth $2,484,000 after purchasing an additional 537 shares in the last quarter. Weaver Consulting Group bought a new stake in shares of Stitch Fix in the 1st quarter valued at $28,000. AdvisorNet Financial Inc bought a new stake in shares of Stitch Fix in the 4th quarter valued at $29,000. Creative Planning increased its position in shares of Stitch Fix by 18.3% in the 1st quarter. Creative Planning now owns 13,138 shares of the company’s stock valued at $371,000 after buying an additional 2,028 shares in the last quarter. Finally, Botty Investors LLC bought a new stake in shares of Stitch Fix in the 1st quarter valued at $61,000. 29.24% of the stock is currently owned by institutional investors.

About Stitch Fix

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.

Featured Article: Catch-Up Contributions

The Fly

Analyst Recommendations for Stitch Fix (NASDAQ:SFIX)

Receive News & Ratings for Stitch Fix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stitch Fix and related companies with MarketBeat.com's FREE daily email newsletter.