Stitch Fix, Inc. (NASDAQ:SFIX) Given Consensus Rating of “Reduce” by Brokerages

Stitch Fix, Inc. (NASDAQ:SFIX) has been assigned an average rating of “Reduce” from the twelve brokerages that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $3.16.

Several research firms have weighed in on SFIX. Wedbush decreased their price target on shares of Stitch Fix from $4.00 to $3.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 5th. Truist Financial dropped their price objective on shares of Stitch Fix from $4.00 to $3.50 and set a “hold” rating for the company in a report on Tuesday, March 5th. Sanford C. Bernstein decreased their target price on shares of Stitch Fix from $4.00 to $3.40 and set a “market perform” rating on the stock in a research report on Tuesday, March 5th. Piper Sandler decreased their target price on shares of Stitch Fix from $3.00 to $2.25 and set an “underweight” rating on the stock in a research report on Tuesday, March 5th. Finally, UBS Group initiated coverage on shares of Stitch Fix in a research report on Monday, April 8th. They issued a “neutral” rating and a $2.80 price objective on the stock.

Insider Transactions at Stitch Fix

In other news, CAO Sarah Barkema sold 16,311 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $2.24, for a total transaction of $36,536.64. Following the transaction, the chief accounting officer now directly owns 138,535 shares of the company’s stock, valued at $310,318.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 25.90% of the company’s stock.

Hedge Funds Weigh In On Stitch Fix

A number of institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC bought a new position in shares of Stitch Fix during the third quarter valued at approximately $93,000. 1900 Wealth Management LLC bought a new position in shares of Stitch Fix during the third quarter valued at approximately $42,000. Oak Thistle LLC boosted its stake in shares of Stitch Fix by 102.2% during the third quarter. Oak Thistle LLC now owns 22,122 shares of the company’s stock valued at $76,000 after purchasing an additional 11,180 shares in the last quarter. Principal Financial Group Inc. bought a new position in shares of Stitch Fix during the third quarter valued at approximately $38,000. Finally, Jump Financial LLC boosted its stake in shares of Stitch Fix by 74.7% during the third quarter. Jump Financial LLC now owns 251,400 shares of the company’s stock valued at $867,000 after purchasing an additional 107,525 shares in the last quarter. 71.04% of the stock is owned by hedge funds and other institutional investors.

Stitch Fix Stock Up 2.4 %

NASDAQ:SFIX opened at $2.17 on Wednesday. The company’s 50 day moving average price is $2.70 and its 200-day moving average price is $3.20. Stitch Fix has a 52 week low of $2.06 and a 52 week high of $5.20. The stock has a market cap of $260.77 million, a price-to-earnings ratio of -2.11 and a beta of 1.90.

Stitch Fix (NASDAQ:SFIX) last issued its earnings results on Monday, March 4th. The company reported ($0.21) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.21). Stitch Fix had a negative net margin of 8.29% and a negative return on equity of 39.98%. The company had revenue of $330.40 million for the quarter, compared to analysts’ expectations of $331.73 million. As a group, sell-side analysts anticipate that Stitch Fix will post -0.81 earnings per share for the current year.

About Stitch Fix

Stitch Fix, Inc sells a range of apparel, shoes, and accessories for men, women, and kids through its website and mobile application in the United States and the United Kingdom. It offers denim, dresses, blouses, skirts, shoes, jewelry, and handbags under the Stitch Fix brand. The company was formerly known as rack habit inc.