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

Stitch Fix, Inc. (NASDAQ:SFIX) has been assigned an average recommendation of “Reduce” from the twelve brokerages that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $3.45.

A number of brokerages have recently commented on SFIX. Telsey Advisory Group reissued a “market perform” rating and issued a $4.00 target price on shares of Stitch Fix in a research note on Thursday, May 30th. Truist Financial lifted their price objective on shares of Stitch Fix from $3.50 to $4.00 and gave the company a “hold” rating in a research note on Wednesday, June 5th. Canaccord Genuity Group increased their price target on Stitch Fix from $3.50 to $4.50 and gave the company a “hold” rating in a report on Thursday, June 27th. Mizuho raised their price objective on shares of Stitch Fix from $2.00 to $3.00 and gave the stock an “underperform” rating in a report on Monday, June 10th. Finally, Wedbush reissued a “neutral” rating and set a $3.00 price target on shares of Stitch Fix in a research report on Wednesday, June 5th.

Stitch Fix Trading Down 2.3 %

Shares of SFIX opened at $3.80 on Tuesday. Stitch Fix has a twelve month low of $2.06 and a twelve month high of $5.05. The firm has a market capitalization of $464.90 million, a P/E ratio of -3.73 and a beta of 1.97. The stock’s fifty day simple moving average is $4.06 and its 200 day simple moving average is $3.17.

Stitch Fix (NASDAQ:SFIX) last released its quarterly earnings data on Tuesday, June 4th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.10. The company had revenue of $322.73 million for the quarter, compared to the consensus estimate of $305.93 million. Stitch Fix had a negative return on equity of 41.40% and a negative net margin of 8.68%. Sell-side analysts predict that Stitch Fix will post -0.73 earnings per share for the current year.

Insider Buying and Selling at Stitch Fix

In other news, Director Katrina Lake sold 537,007 shares of Stitch Fix stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $5.01, for a total transaction of $2,690,405.07. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CAO Sarah Barkema sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $3.74, for a total transaction of $112,200.00. Following the sale, the chief accounting officer now owns 108,535 shares in the company, valued at $405,920.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Katrina Lake sold 537,007 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $5.01, for a total value of $2,690,405.07. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 656,663 shares of company stock valued at $3,213,892. Company insiders own 25.90% of the company’s stock.

Hedge Funds Weigh In On Stitch Fix

Large investors have recently made changes to their positions in the business. Maple Rock Capital Partners Inc. purchased a new position in Stitch Fix in the first quarter valued at about $8,994,000. Disciplined Growth Investors Inc. MN lifted its position in shares of Stitch Fix by 34.9% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 9,273,817 shares of the company’s stock worth $38,486,000 after acquiring an additional 2,396,920 shares during the period. Hodges Capital Management Inc. increased its holdings in Stitch Fix by 286.2% in the 2nd quarter. Hodges Capital Management Inc. now owns 2,511,100 shares of the company’s stock valued at $10,421,000 after buying an additional 1,860,950 shares during the period. Renaissance Technologies LLC increased its stake in Stitch Fix by 11.7% in the second quarter. Renaissance Technologies LLC now owns 4,432,600 shares of the company’s stock valued at $18,395,000 after acquiring an additional 465,900 shares during the period. Finally, Los Angeles Capital Management LLC boosted its stake in Stitch Fix by 673.2% in the 1st quarter. Los Angeles Capital Management LLC now owns 516,782 shares of the company’s stock valued at $1,364,000 after buying an additional 449,948 shares in the last quarter. Institutional investors and hedge funds own 71.04% of the company’s stock.

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.