Stitch Fix (SFIX) Receives Buy Rating from KeyCorp

Stitch Fix (NASDAQ:SFIX)‘s stock had its “buy” rating reiterated by KeyCorp in a report issued on Thursday, Marketbeat reports. They presently have a $53.00 target price on the stock, up from their previous target price of $38.00. KeyCorp’s price objective would suggest a potential upside of 7.44% from the stock’s current price.

SFIX has been the topic of several other reports. SunTrust Banks began coverage on Stitch Fix in a research note on Friday, August 10th. They set a “buy” rating and a $38.00 price objective on the stock. Zacks Investment Research cut Stitch Fix from a “buy” rating to a “hold” rating in a research note on Thursday, August 9th. Stifel Nicolaus boosted their price objective on Stitch Fix from $25.00 to $26.00 and gave the stock a “hold” rating in a research note on Friday, June 8th. Wells Fargo & Co began coverage on Stitch Fix in a research note on Thursday, August 2nd. They set a “market perform” rating and a $30.00 price objective on the stock. Finally, ValuEngine raised Stitch Fix from a “hold” rating to a “buy” rating in a research note on Friday, August 10th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Stitch Fix has a consensus rating of “Hold” and an average target price of $30.10.

Shares of NASDAQ SFIX opened at $49.33 on Thursday. Stitch Fix has a 1-year low of $14.48 and a 1-year high of $49.85.

In other news, major shareholder Barry Eggers sold 31,886 shares of the company’s stock in a transaction that occurred on Friday, August 31st. The stock was sold at an average price of $40.88, for a total transaction of $1,303,499.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Katrina Lake sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $32.82, for a total value of $1,641,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 794,308 shares of company stock worth $24,156,419.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. D.A. Davidson & CO. bought a new position in shares of Stitch Fix during the second quarter valued at approximately $203,000. Element Capital Management LLC bought a new position in shares of Stitch Fix during the first quarter valued at approximately $220,000. California Public Employees Retirement System bought a new position in shares of Stitch Fix during the second quarter valued at approximately $228,000. Millennium Management LLC bought a new position in shares of Stitch Fix during the first quarter valued at approximately $296,000. Finally, Bank of New York Mellon Corp bought a new position in Stitch Fix in the second quarter worth approximately $367,000. 21.59% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Stitch Fix (NASDAQ:SFIX)

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