Stitch Fix, Inc. (NASDAQ:SFIX) Given Consensus Recommendation of “Reduce” by Brokerages

Stitch Fix, Inc. (NASDAQ:SFIX) has earned an average recommendation of “Reduce” from the eleven research firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation and nine have issued a hold recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $3.27.

Several analysts have weighed in on the stock. Telsey Advisory Group reiterated a “market perform” rating and issued a $4.00 price objective on shares of Stitch Fix in a research note on Wednesday, September 25th. UBS Group dropped their price objective on shares of Stitch Fix from $3.80 to $2.80 and set a “neutral” rating for the company in a research note on Friday, October 11th. Finally, Canaccord Genuity Group dropped their target price on shares of Stitch Fix from $4.50 to $3.50 and set a “hold” rating for the company in a research report on Wednesday, September 25th.

Hedge Funds Weigh In On Stitch Fix

A number of institutional investors have recently added to or reduced their stakes in SFIX. Allspring Global Investments Holdings LLC increased its position in Stitch Fix by 116.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 22,378 shares of the company’s stock worth $59,000 after purchasing an additional 12,028 shares in the last quarter. BNP Paribas Financial Markets increased its position in Stitch Fix by 37.0% during the 1st quarter. BNP Paribas Financial Markets now owns 116,405 shares of the company’s stock worth $307,000 after purchasing an additional 31,442 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Stitch Fix during the 1st quarter worth approximately $259,000. Russell Investments Group Ltd. increased its position in Stitch Fix by 6.2% during the 1st quarter. Russell Investments Group Ltd. now owns 182,833 shares of the company’s stock worth $483,000 after purchasing an additional 10,698 shares in the last quarter. Finally, EntryPoint Capital LLC grew its holdings in Stitch Fix by 576.6% during the 1st quarter. EntryPoint Capital LLC now owns 67,981 shares of the company’s stock worth $179,000 after acquiring an additional 57,933 shares during the last quarter. 71.04% of the stock is currently owned by institutional investors and hedge funds.

Stitch Fix Stock Performance

Shares of SFIX stock opened at $3.74 on Friday. Stitch Fix has a 52 week low of $2.06 and a 52 week high of $5.05. The company has a 50-day simple moving average of $3.24 and a 200 day simple moving average of $3.40. The company has a market capitalization of $474.37 million, a price-to-earnings ratio of -3.46 and a beta of 1.87.

Stitch Fix (NASDAQ:SFIX) last issued its quarterly earnings data on Tuesday, September 24th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.07. Stitch Fix had a negative net margin of 9.63% and a negative return on equity of 40.62%. The business had revenue of $319.55 million during the quarter, compared to analysts’ expectations of $317.48 million. Sell-side analysts forecast that Stitch Fix will post -0.61 EPS for the current year.

Stitch Fix Company Profile

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.