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

Shares of Stitch Fix, Inc. (NASDAQ:SFIX) have been assigned an average rating of “Reduce” from the nine brokerages that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating and seven have issued a hold rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $3.96.

SFIX has been the topic of a number of recent research reports. Canaccord Genuity Group raised their target price on Stitch Fix from $5.00 to $6.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. UBS Group lifted their price objective on shares of Stitch Fix from $2.80 to $5.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Finally, Telsey Advisory Group raised their price target 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.

Insider Activity at Stitch Fix

In other news, Director Katrina Lake sold 725,002 shares of Stitch Fix stock in a transaction that occurred on 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 filing with the SEC, which can be accessed through the SEC website. Also, insider Anthony Bacos sold 16,720 shares of the business’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 transaction of $77,079.20. Following the sale, the insider now owns 913,962 shares in the company, valued at $4,213,364.82. This represents a 1.80 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 16.95% of the company’s stock.

Institutional Investors Weigh In On Stitch Fix

Several hedge funds have recently bought and sold shares of the business. Disciplined Growth Investors Inc. MN boosted its stake in shares of Stitch Fix by 48.1% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 13,734,485 shares of the company’s stock valued at $38,731,000 after buying an additional 4,460,668 shares during the period. Hodges Capital Management Inc. raised its holdings in shares of Stitch Fix by 34.4% during the third quarter. Hodges Capital Management Inc. now owns 3,375,200 shares of the company’s stock worth $9,518,000 after acquiring an additional 864,100 shares in the last quarter. Geode Capital Management LLC boosted its position in Stitch Fix by 3.8% during the third quarter. Geode Capital Management LLC now owns 2,294,925 shares of the company’s stock valued at $6,473,000 after purchasing an additional 83,220 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Stitch Fix in the third quarter valued at about $2,862,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in Stitch Fix by 32.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 499,142 shares of the company’s stock worth $1,408,000 after purchasing an additional 121,084 shares during the last quarter. 71.04% of the stock is owned by hedge funds and other institutional investors.

Stitch Fix Price Performance

Stitch Fix stock opened at $4.93 on Friday. Stitch Fix has a 12-month low of $2.06 and a 12-month high of $6.99. The company has a market capitalization of $625.32 million, a price-to-earnings ratio of -5.94 and a beta of 1.99. The firm’s fifty day moving average price is $4.47 and its 200 day moving average price is $3.91.

Stitch Fix (NASDAQ:SFIX) last announced its quarterly earnings data on Tuesday, December 10th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.09. The company had revenue of $318.82 million during the quarter, compared to analyst estimates of $306.88 million. Stitch Fix had a negative net margin of 7.71% and a negative return on equity of 32.71%. The firm’s revenue for the quarter was down 12.6% compared to the same quarter last year. During the same period last year, the business earned ($0.30) EPS. Analysts forecast that Stitch Fix will post -0.44 earnings per share 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.