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

Shares of Stitch Fix, Inc. (NASDAQ:SFIX) have earned a consensus recommendation of “Reduce” from the nine analysts that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $3.96.

Several equities analysts recently issued reports on SFIX shares. Canaccord Genuity Group upped their price objective on shares of Stitch Fix from $5.00 to $6.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. Telsey Advisory Group boosted their price target on Stitch Fix from $4.00 to $6.00 and gave the company a “market perform” rating in a report on Wednesday, December 11th. Finally, UBS Group raised their price objective on Stitch Fix from $2.80 to $5.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th.

Stitch Fix Price Performance

Shares of Stitch Fix stock opened at $4.15 on Monday. The business has a 50 day moving average price of $3.94 and a 200 day moving average price of $3.79. The company has a market capitalization of $526.38 million, a P/E ratio of -5.00 and a beta of 1.99. Stitch Fix has a 1 year low of $2.06 and a 1 year high of $6.99.

Stitch Fix (NASDAQ:SFIX) last released its quarterly earnings results on Tuesday, December 10th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.09. The company had revenue of $318.82 million during the quarter, compared to analysts’ expectations of $306.88 million. Stitch Fix had a negative return on equity of 32.71% and a negative net margin of 7.71%. The business’s revenue for the quarter was down 12.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.30) earnings per share. As a group, research analysts expect that Stitch Fix will post -0.46 EPS for the current fiscal year.

Insider Transactions at Stitch Fix

In related news, Director Katrina Lake sold 725,002 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $5.78, for a total value of $4,190,511.56. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Anthony Bacos sold 16,720 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $4.61, for a total transaction of $77,079.20. Following the sale, the insider now owns 913,962 shares of the company’s stock, valued at approximately $4,213,364.82. This represents a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 16.95% of the company’s stock.

Institutional Investors Weigh In On Stitch Fix

Several hedge funds have recently modified their holdings of the stock. Creative Planning grew its position in Stitch Fix by 32.1% in the third quarter. Creative Planning now owns 25,477 shares of the company’s stock valued at $72,000 after acquiring an additional 6,194 shares in the last quarter. Federated Hermes Inc. boosted its stake in shares of Stitch Fix by 7.7% in the second quarter. Federated Hermes Inc. now owns 94,624 shares of the company’s stock valued at $393,000 after purchasing an additional 6,739 shares during the period. Virtus Investment Advisers Inc. grew its holdings in Stitch Fix by 11.1% during the 3rd quarter. Virtus Investment Advisers Inc. now owns 117,185 shares of the company’s stock valued at $330,000 after purchasing an additional 11,735 shares in the last quarter. Caprock Group LLC purchased a new stake in Stitch Fix during the 3rd quarter worth $33,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in Stitch Fix in the 3rd quarter worth $36,000. 71.04% 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 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.