Stitch Fix (NASDAQ:SFIX) Shares Gap Up to $25.02

Stitch Fix Inc (NASDAQ:SFIX)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $22.89, but opened at $25.02. Stitch Fix shares last traded at $26.23, with a volume of 13,358,987 shares changing hands.

A number of brokerages recently commented on SFIX. DA Davidson began coverage on Stitch Fix in a report on Tuesday. They set a “neutral” rating and a $27.00 target price for the company. Stifel Nicolaus restated a “buy” rating and set a $32.00 target price (up from $28.00) on shares of Stitch Fix in a report on Tuesday. Robert W. Baird restated a “buy” rating and set a $33.00 target price (up from $28.00) on shares of Stitch Fix in a report on Tuesday. JPMorgan Chase & Co. lowered their target price on Stitch Fix from $34.00 to $24.00 and set a “neutral” rating for the company in a report on Wednesday, October 2nd. Finally, SunTrust Banks restated a “buy” rating and set a $38.00 target price (up from $36.00) on shares of Stitch Fix in a report on Tuesday. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Stitch Fix currently has a consensus rating of “Hold” and a consensus target price of $29.69.

The firm has a 50 day moving average price of $23.18 and a 200-day moving average price of $23.85. The firm has a market cap of $2.45 billion, a PE ratio of 72.85, a PEG ratio of 39.45 and a beta of 3.31.

Stitch Fix (NASDAQ:SFIX) last announced its quarterly earnings data on Tuesday, October 1st. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.03. The business had revenue of $432.10 million during the quarter, compared to analysts’ expectations of $432.44 million. Stitch Fix had a return on equity of 10.11% and a net margin of 2.34%. The business’s quarterly revenue was up 35.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 EPS. As a group, equities analysts forecast that Stitch Fix Inc will post 0.03 earnings per share for the current year.

In other Stitch Fix news, Director J William Gurley bought 150,000 shares of the business’s stock in a transaction dated Thursday, October 10th. The shares were acquired at an average price of $23.41 per share, with a total value of $3,511,500.00. Also, CEO Katrina Lake sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $20.98, for a total value of $2,098,000.00. Insiders sold a total of 311,667 shares of company stock valued at $6,933,640 in the last quarter. Company insiders own 47.52% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. A.R.T. Advisors LLC boosted its stake in shares of Stitch Fix by 16.6% in the second quarter. A.R.T. Advisors LLC now owns 170,130 shares of the company’s stock valued at $5,442,000 after buying an additional 24,200 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Stitch Fix by 76.6% in the second quarter. JPMorgan Chase & Co. now owns 214,252 shares of the company’s stock valued at $6,517,000 after buying an additional 92,963 shares in the last quarter. Baillie Gifford & Co. boosted its stake in shares of Stitch Fix by 23.3% in the second quarter. Baillie Gifford & Co. now owns 4,488,246 shares of the company’s stock valued at $143,580,000 after buying an additional 849,117 shares in the last quarter. State Board of Administration of Florida Retirement System purchased a new stake in shares of Stitch Fix in the second quarter valued at approximately $292,000. Finally, Brighton Jones LLC boosted its stake in shares of Stitch Fix by 2.8% in the third quarter. Brighton Jones LLC now owns 23,911 shares of the company’s stock valued at $460,000 after buying an additional 650 shares in the last quarter. 41.77% of the stock is currently owned by institutional investors.

Stitch Fix Company Profile (NASDAQ:SFIX)

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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