Stitch Fix, Inc. (NASDAQ:SFIX) Receives Consensus Rating of “Hold” from Analysts

Stitch Fix, Inc. (NASDAQ:SFIX – Get Rating) has received an average rating of “Hold” from the twenty-one research firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, fifteen have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $15.21.

A number of research analysts have issued reports on the stock. MKM Partners reduced their target price on shares of Stitch Fix from $19.00 to $9.00 in a research note on Monday, March 7th. Truist Financial lowered shares of Stitch Fix from a “buy” rating to a “hold” rating and reduced their price target for the stock from $40.00 to $12.00 in a research note on Wednesday, March 9th. Bernstein Bank started coverage on shares of Stitch Fix in a research note on Tuesday, March 15th. They issued a “market perform” rating and a $11.00 price target for the company. Wells Fargo & Company reduced their price target on shares of Stitch Fix from $14.00 to $8.00 and set an “underweight” rating for the company in a research note on Wednesday, March 9th. Finally, Telsey Advisory Group lowered shares of Stitch Fix from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $25.00 to $14.00 in a research note on Wednesday, March 9th.

Shares of NASDAQ:SFIX opened at $9.50 on Friday. Stitch Fix has a fifty-two week low of $8.75 and a fifty-two week high of $69.20. The firm has a 50-day simple moving average of $10.55 and a 200 day simple moving average of $18.72. The company has a market cap of $1.03 billion, a PE ratio of -32.76 and a beta of 1.81.

Stitch Fix (NASDAQ:SFIX – Get Rating) last announced its quarterly earnings data on Tuesday, March 8th. The company reported ($0.28) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.28). The business had revenue of $516.70 million during the quarter, compared to the consensus estimate of $514.50 million. Stitch Fix had a negative net margin of 1.37% and a negative return on equity of 6.58%. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.20) EPS. As a group, analysts expect that Stitch Fix will post -1.38 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in SFIX. First Trust Advisors LP increased its stake in Stitch Fix by 25.4% in the 1st quarter. First Trust Advisors LP now owns 104,279 shares of the company’s stock valued at $2,944,000 after buying an additional 21,153 shares during the period. Commonwealth Equity Services LLC increased its stake in Stitch Fix by 6.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 18,204 shares of the company’s stock valued at $727,000 after buying an additional 1,157 shares during the period. SG Americas Securities LLC increased its stake in Stitch Fix by 791.7% in the 3rd quarter. SG Americas Securities LLC now owns 23,604 shares of the company’s stock valued at $943,000 after buying an additional 20,957 shares during the period. Raymond James & Associates increased its stake in Stitch Fix by 100.9% in the 3rd quarter. Raymond James & Associates now owns 7,841 shares of the company’s stock valued at $313,000 after buying an additional 3,938 shares during the period. Finally, Raymond James Financial Services Advisors Inc. increased its stake in Stitch Fix by 14.9% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 8,308 shares of the company’s stock valued at $332,000 after buying an additional 1,077 shares during the period. Institutional investors and hedge funds own 67.10% of the company’s stock.

Stitch Fix Company Profile (Get Rating)

Stitch Fix, Inc sells a range of apparel, shoes, and accessories through its Website and mobile application 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.

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