Stitch Fix (NASDAQ:SFIX) Rating Increased to Buy at Wall Street Zen

Stitch Fix (NASDAQ:SFIX) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

Several other analysts have also issued reports on SFIX. UBS Group restated a “neutral” rating on shares of Stitch Fix in a research report on Wednesday, September 17th. Zacks Research downgraded shares of Stitch Fix from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Stitch Fix in a research note on Wednesday, October 8th. Telsey Advisory Group reiterated a “market perform” rating and set a $6.00 target price on shares of Stitch Fix in a research report on Monday, December 1st. Finally, Sanford C. Bernstein reissued a “market perform” rating and set a $6.00 price target on shares of Stitch Fix in a report on Thursday, September 25th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.00.

Stitch Fix Stock Performance

Stitch Fix stock opened at $5.48 on Friday. The stock has a market cap of $734.93 million, a PE ratio of -34.25 and a beta of 2.22. Stitch Fix has a one year low of $2.60 and a one year high of $5.94. The stock has a fifty day moving average of $4.41 and a 200 day moving average of $4.60.

Stitch Fix (NASDAQ:SFIX) last announced its earnings results on Thursday, December 4th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). The business had revenue of $342.13 million for the quarter, compared to analysts’ expectations of $335.74 million. Stitch Fix had a negative return on equity of 14.38% and a negative net margin of 2.23%.The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period last year, the firm posted ($0.03) earnings per share. As a group, sell-side analysts predict that Stitch Fix will post -0.44 EPS for the current fiscal year.

Insider Buying and Selling at Stitch Fix

In other Stitch Fix news, insider Casey O’connor sold 50,000 shares of the firm’s stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $4.41, for a total transaction of $220,500.00. Following the sale, the insider directly owned 431,441 shares of the company’s stock, valued at $1,902,654.81. This trade represents a 10.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Anthony Bacos sold 90,000 shares of the business’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $5.61, for a total value of $504,900.00. Following the completion of the transaction, the insider owned 799,966 shares in the company, valued at $4,487,809.26. The trade was a 10.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 443,450 shares of company stock valued at $2,300,306 over the last ninety days. 16.09% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Stitch Fix

Institutional investors have recently added to or reduced their stakes in the stock. Working Capital Advisors UK Ltd. raised its position in shares of Stitch Fix by 15.9% during the third quarter. Working Capital Advisors UK Ltd. now owns 11,046,077 shares of the company’s stock valued at $48,050,000 after buying an additional 1,512,475 shares during the last quarter. Fund 1 Investments LLC grew its stake in Stitch Fix by 44.6% during the second quarter. Fund 1 Investments LLC now owns 9,943,821 shares of the company’s stock valued at $36,792,000 after acquiring an additional 3,064,901 shares in the last quarter. Vanguard Group Inc. increased its holdings in Stitch Fix by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 7,682,725 shares of the company’s stock valued at $33,420,000 after acquiring an additional 240,584 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Stitch Fix by 302.9% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,897,171 shares of the company’s stock worth $12,603,000 after purchasing an additional 2,178,156 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of Stitch Fix by 6.9% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 2,635,207 shares of the company’s stock valued at $8,564,000 after purchasing an additional 170,344 shares during the last quarter. 71.04% of the stock is owned by hedge funds and other institutional investors.

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.