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

Shares of Stitch Fix, Inc. (NASDAQ:SFIX) have been assigned a consensus recommendation of “Hold” from the six ratings firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $6.00.

Several equities research analysts have issued reports on SFIX shares. Weiss Ratings restated a “sell (d-)” rating on shares of Stitch Fix in a research report on Thursday, January 22nd. Wall Street Zen cut Stitch Fix from a “buy” rating to a “hold” rating in a report on Saturday, January 3rd. Zacks Research lowered Stitch Fix from a “strong-buy” rating to a “hold” rating in a report on Friday, December 5th. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $6.00 price target on shares of Stitch Fix in a research report on Monday, December 1st.

Stitch Fix Stock Down 2.7%

Shares of NASDAQ:SFIX opened at $4.28 on Friday. The firm has a market capitalization of $574.38 million, a PE ratio of -26.75 and a beta of 2.23. The company has a 50-day moving average price of $5.11 and a two-hundred day moving average price of $4.87. Stitch Fix has a twelve month low of $2.60 and a twelve month high of $5.94.

Stitch Fix (NASDAQ:SFIX) last posted its quarterly earnings results on Thursday, December 4th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). The company had revenue of $342.13 million for the quarter, compared to analyst estimates of $335.74 million. Stitch Fix had a negative net margin of 2.23% and a negative return on equity of 14.38%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. Analysts anticipate that Stitch Fix will post -0.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Casey O’connor sold 19,347 shares of the stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $5.68, for a total value of $109,890.96. Following the sale, the insider owned 542,071 shares in the company, valued at approximately $3,078,963.28. This trade represents a 3.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Katrina Lake sold 8,835 shares of Stitch Fix stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $5.01, for a total value of $44,263.35. The SEC filing for this sale provides additional information. Insiders have sold 494,498 shares of company stock worth $2,578,645 in the last three months. 16.09% of the stock is currently owned by corporate insiders.

Institutional Trading of Stitch Fix

Several institutional investors and hedge funds have recently modified their holdings of the business. Fund 1 Investments LLC lifted its holdings in shares of Stitch Fix by 44.6% during the 2nd quarter. Fund 1 Investments LLC now owns 9,943,821 shares of the company’s stock worth $36,792,000 after acquiring an additional 3,064,901 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Stitch Fix in the second quarter valued at $489,000. Connor Clark & Lunn Investment Management Ltd. raised its position in Stitch Fix by 23.0% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 938,473 shares of the company’s stock valued at $3,472,000 after purchasing an additional 175,681 shares in the last quarter. SG Americas Securities LLC lifted its stake in Stitch Fix by 53.1% during the second quarter. SG Americas Securities LLC now owns 84,278 shares of the company’s stock worth $312,000 after purchasing an additional 29,248 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Stitch Fix by 7.2% in the 2nd quarter. Geode Capital Management LLC now owns 2,609,599 shares of the company’s stock worth $9,657,000 after purchasing an additional 174,426 shares in the last quarter. Hedge funds and other institutional investors own 71.04% of the company’s stock.

Stitch Fix Company Profile

Stitch Fix, Inc, headquartered in San Francisco, California, is a leading online personal styling service that blends data science with human expertise to deliver curated clothing and accessory selections. Founded in 2011 by Katrina Lake, the company pioneered a subscription-based model in which customers receive periodic “Fixes” tailored to their personal style, size and budget. Each shipment arrives with several handpicked items along with styling notes, allowing clients to review, purchase and return pieces at their convenience.

Clients begin by completing an online style profile that captures their measurements, design preferences and lifestyle needs.