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

Stitch Fix, Inc. (NASDAQ:SFIX) has been assigned an average rating of “Reduce” from the eleven brokerages that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation and nine have issued a hold recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $3.27.

Several equities research analysts have recently weighed in on the company. Telsey Advisory Group reissued a “market perform” rating and issued a $4.00 price target on shares of Stitch Fix in a research note on Wednesday, September 25th. Canaccord Genuity Group dropped their price target on shares of Stitch Fix from $4.50 to $3.50 and set a “hold” rating on the stock in a research report on Wednesday, September 25th. Finally, UBS Group decreased their price objective on shares of Stitch Fix from $3.80 to $2.80 and set a “neutral” rating for the company in a research report on Friday, October 11th.

Stitch Fix Price Performance

NASDAQ:SFIX opened at $3.78 on Friday. Stitch Fix has a one year low of $2.06 and a one year high of $5.05. The company has a market cap of $479.46 million, a PE ratio of -3.50 and a beta of 1.87. The firm’s 50 day simple moving average is $3.23 and its 200 day simple moving average is $3.37.

Stitch Fix (NASDAQ:SFIX) last issued its quarterly earnings results on Tuesday, September 24th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.07. Stitch Fix had a negative net margin of 9.63% and a negative return on equity of 40.62%. The company had revenue of $319.55 million for the quarter, compared to analyst estimates of $317.48 million. Equities research analysts expect that Stitch Fix will post -0.61 EPS for the current year.

Hedge Funds Weigh In On Stitch Fix

A number of institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its stake in Stitch Fix by 116.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 22,378 shares of the company’s stock valued at $59,000 after purchasing an additional 12,028 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Stitch Fix by 37.0% during the first quarter. BNP Paribas Financial Markets now owns 116,405 shares of the company’s stock worth $307,000 after buying an additional 31,442 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Stitch Fix in the 1st quarter valued at $259,000. Russell Investments Group Ltd. lifted its stake in Stitch Fix by 6.2% during the 1st quarter. Russell Investments Group Ltd. now owns 182,833 shares of the company’s stock valued at $483,000 after acquiring an additional 10,698 shares in the last quarter. Finally, EntryPoint Capital LLC grew its stake in shares of Stitch Fix by 576.6% in the 1st quarter. EntryPoint Capital LLC now owns 67,981 shares of the company’s stock worth $179,000 after acquiring an additional 57,933 shares in the last quarter. 71.04% of the stock is owned by institutional investors and hedge funds.

Stitch Fix Company Profile

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.