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

Stitch Fix, Inc. (NASDAQ:SFIX) has been given an average rating of “Reduce” by the nine ratings firms that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $3.96.

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

Insider Activity

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

Institutional Trading of Stitch Fix

Hedge funds have recently added to or reduced their stakes in the business. Creative Planning lifted its holdings in Stitch Fix by 32.1% in the third quarter. Creative Planning now owns 25,477 shares of the company’s stock worth $72,000 after purchasing an additional 6,194 shares during the period. Federated Hermes Inc. increased its position in shares of Stitch Fix by 7.7% during the 2nd 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. boosted its stake in Stitch Fix by 11.1% during the third quarter. Virtus Investment Advisers Inc. now owns 117,185 shares of the company’s stock valued at $330,000 after buying an additional 11,735 shares in the last quarter. Caprock Group LLC bought a new stake in Stitch Fix in the third quarter worth about $33,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of Stitch Fix in the 3rd quarter worth approximately $36,000. Institutional investors own 71.04% of the company’s stock.

Stitch Fix Stock Up 4.0 %

SFIX stock opened at $4.15 on Monday. The stock’s 50 day moving average is $3.94 and its two-hundred day moving average is $3.79. Stitch Fix has a 52-week low of $2.06 and a 52-week high of $6.99. The company has a market capitalization of $526.38 million, a PE ratio of -5.00 and a beta of 1.99.

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