Analysts Set Stitch Fix, Inc. (NASDAQ:SFIX) Price Target at $3.96

Shares of Stitch Fix, Inc. (NASDAQ:SFIX) have been given an average recommendation of “Reduce” by the nine brokerages that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating and seven have issued a hold rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $3.96.

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

Insider Buying and Selling at Stitch Fix

In other news, Director Katrina Lake sold 725,002 shares of the business’s stock in a transaction dated 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 Securities & Exchange Commission, which is available at this link. Also, insider Anthony Bacos sold 16,720 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $4.61, for a total transaction of $77,079.20. Following the transaction, the insider now owns 913,962 shares in the company, 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. 16.95% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its holdings in shares of Stitch Fix by 20.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 314,625 shares of the company’s stock valued at $1,306,000 after buying an additional 52,538 shares in the last quarter. Rhumbline Advisers boosted its stake in Stitch Fix by 15.2% in the second quarter. Rhumbline Advisers now owns 146,676 shares of the company’s stock valued at $609,000 after acquiring an additional 19,367 shares in the last quarter. Hodges Capital Management Inc. increased its position in shares of Stitch Fix by 286.2% during the second quarter. Hodges Capital Management Inc. now owns 2,511,100 shares of the company’s stock worth $10,421,000 after purchasing an additional 1,860,950 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Stitch Fix by 16.2% during the 2nd quarter. American Century Companies Inc. now owns 122,215 shares of the company’s stock valued at $507,000 after purchasing an additional 17,027 shares during the last quarter. Finally, Federated Hermes Inc. boosted its position in shares of Stitch Fix by 7.7% in the 2nd quarter. Federated Hermes Inc. now owns 94,624 shares of the company’s stock worth $393,000 after purchasing an additional 6,739 shares in the last quarter. 71.04% of the stock is currently owned by hedge funds and other institutional investors.

Stitch Fix Trading Up 0.5 %

Shares of NASDAQ SFIX opened at $4.31 on Monday. The stock has a market capitalization of $546.67 million, a price-to-earnings ratio of -5.19 and a beta of 1.99. Stitch Fix has a 12-month low of $2.06 and a 12-month high of $6.99. The firm’s 50-day moving average price is $4.02 and its 200-day moving average price is $3.81.

Stitch Fix (NASDAQ:SFIX) last posted its quarterly earnings data on Tuesday, December 10th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.09. The business had revenue of $318.82 million during the quarter, compared to analyst estimates of $306.88 million. Stitch Fix had a negative return on equity of 32.71% and a negative net margin of 7.71%. The company’s revenue for the quarter was down 12.6% on a year-over-year basis. During the same period last year, the company earned ($0.30) EPS. On average, equities analysts predict that Stitch Fix will post -0.46 EPS for the current fiscal 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.