Stitch Fix (SFIX) Rating Increased to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Stitch Fix (NASDAQ:SFIX) from a hold rating to a buy rating in a report issued on Saturday morning. The brokerage currently has $55.00 target price on the stock.
According to Zacks, “Stitch Fix, Inc. provides an online subscription and personal shopping platform. The Company offers shirts, jackets, sweaters, blazers, leggings, vests, scarfs, jeans, loafers and boots for men and women. Stitch Fix, Inc. is based in San Francisco, United States. “
A number of other equities analysts have also recently issued reports on the stock. Stifel Nicolaus increased their price objective on shares of Stitch Fix from $25.00 to $26.00 and gave the company a hold rating in a research note on Friday, June 8th. KeyCorp began coverage on shares of Stitch Fix in a research note on Tuesday, July 10th. They issued an overweight rating and a $38.00 price objective for the company. Wells Fargo & Co began coverage on shares of Stitch Fix in a research note on Thursday, August 2nd. They issued a market perform rating and a $30.00 price objective for the company. SunTrust Banks began coverage on shares of Stitch Fix in a research note on Friday, August 10th. They issued a buy rating and a $38.00 price objective for the company. Finally, ValuEngine upgraded shares of Stitch Fix from a hold rating to a buy rating in a research note on Friday, August 10th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Stitch Fix presently has an average rating of Buy and an average price target of $32.36.
In other Stitch Fix news, major shareholder Mitchell Lasky sold 124,150 shares of the firm’s stock in a transaction dated Friday, June 22nd. The shares were sold at an average price of $30.07, for a total value of $3,733,190.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Katrina Lake sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, June 20th. The shares were sold at an average price of $25.81, for a total transaction of $5,162,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 727,705 shares of company stock valued at $22,343,004.
A number of institutional investors and hedge funds have recently bought and sold shares of SFIX. D.A. Davidson & CO. acquired a new stake in Stitch Fix in the 2nd quarter valued at about $203,000. Element Capital Management LLC acquired a new stake in Stitch Fix in the 1st quarter valued at about $220,000. California Public Employees Retirement System acquired a new stake in Stitch Fix in the 2nd quarter valued at about $228,000. Millennium Management LLC acquired a new stake in Stitch Fix in the 1st quarter valued at about $296,000. Finally, Bank of New York Mellon Corp acquired a new stake in Stitch Fix in the 2nd quarter valued at about $367,000. Hedge funds and other institutional investors own 21.59% 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 and women 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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