Stitch Fix (NASDAQ:SFIX) Earns Market Perform Rating from Telsey Advisory Group

Stitch Fix (NASDAQ:SFIX)‘s stock had its “market perform” rating reissued by equities researchers at Telsey Advisory Group in a research note issued on Wednesday,Benzinga reports. They presently have a $4.00 price target on the stock. Telsey Advisory Group’s target price indicates a potential downside of 11.70% from the company’s current price.

A number of other analysts have also recently issued reports on the company. UBS Group decreased their target price on Stitch Fix from $3.80 to $2.80 and set a “neutral” rating for the company in a research report on Friday, October 11th. Canaccord Genuity Group raised their target price on shares of Stitch Fix from $3.50 to $5.00 and gave the stock a “hold” rating in a research report on Monday. Two analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $3.60.

Stitch Fix Trading Down 0.4 %

SFIX stock opened at $4.53 on Wednesday. The stock has a market cap of $574.59 million, a P/E ratio of -4.19 and a beta of 1.99. Stitch Fix has a twelve month low of $2.06 and a twelve month high of $5.05. The company’s 50 day moving average is $3.46 and its two-hundred day moving average is $3.62.

Stitch Fix (NASDAQ:SFIX) last announced its quarterly earnings results on Tuesday, September 24th. The company reported ($0.12) EPS 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 firm had revenue of $319.55 million for the quarter, compared to analyst estimates of $317.48 million. On average, equities research analysts predict that Stitch Fix will post -0.61 earnings per share for the current year.

Institutional Trading of Stitch Fix

Institutional investors have recently added to or reduced their stakes in the stock. Disciplined Growth Investors Inc. MN boosted its stake in shares of Stitch Fix by 34.9% during 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 in the last quarter. CWM LLC grew its stake in Stitch Fix by 132.5% in the 2nd quarter. CWM LLC now owns 11,867 shares of the company’s stock valued at $49,000 after acquiring an additional 6,762 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Stitch Fix by 32.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 499,142 shares of the company’s stock valued at $1,408,000 after purchasing an additional 121,084 shares in the last quarter. Hodges Capital Management Inc. grew its position in shares of Stitch Fix by 286.2% in the second quarter. Hodges Capital Management Inc. now owns 2,511,100 shares of the company’s stock valued at $10,421,000 after purchasing an additional 1,860,950 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Stitch Fix by 11.7% during the 2nd quarter. Renaissance Technologies LLC now owns 4,432,600 shares of the company’s stock worth $18,395,000 after purchasing an additional 465,900 shares during the last quarter. Hedge funds and other institutional investors 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.