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

Stitch Fix (NASDAQ:SFIX)‘s stock had its “market perform” rating restated by research analysts at Telsey Advisory Group in a note issued to investors on Tuesday,Benzinga reports. They currently have a $6.00 target price on the stock. Telsey Advisory Group’s price target suggests a potential upside of 33.93% from the company’s previous close.

Several other research firms have also commented on SFIX. Canaccord Genuity Group upped their price objective on Stitch Fix from $5.00 to $6.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. UBS Group upped their price target on Stitch Fix from $2.80 to $5.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $4.50.

Stitch Fix Stock Performance

SFIX opened at $4.48 on Tuesday. The stock has a market capitalization of $568.23 million, a P/E ratio of -5.40 and a beta of 2.13. The company’s 50-day simple moving average is $4.84 and its two-hundred day simple moving average is $4.06. Stitch Fix has a 52-week low of $2.06 and a 52-week high of $6.99.

Stitch Fix (NASDAQ:SFIX) last posted its earnings results 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. Stitch Fix had a negative net margin of 7.71% and a negative return on equity of 32.71%. The business had revenue of $318.82 million for the quarter, compared to analysts’ expectations of $306.88 million. During the same quarter in the prior year, the business earned ($0.30) EPS. The business’s revenue for the quarter was down 12.6% compared to the same quarter last year. Research analysts forecast that Stitch Fix will post -0.44 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Anthony Bacos sold 16,720 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $4.61, for a total value of $77,079.20. Following the transaction, the insider now owns 913,962 shares of the company’s stock, valued at approximately $4,213,364.82. The trade was a 1.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Katrina Lake sold 725,002 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $5.78, for a total transaction of $4,190,511.56. The disclosure for this sale can be found here. 16.95% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Disciplined Growth Investors Inc. MN boosted its holdings 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 purchasing an additional 4,460,668 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Stitch Fix by 7.6% during the 4th quarter. Vanguard Group Inc. now owns 6,469,114 shares of the company’s stock valued at $27,882,000 after purchasing an additional 457,568 shares during the last quarter. Cooper Creek Partners Management LLC boosted its holdings in shares of Stitch Fix by 1,405.2% during the 4th quarter. Cooper Creek Partners Management LLC now owns 4,273,265 shares of the company’s stock valued at $18,418,000 after purchasing an additional 3,989,362 shares during the last quarter. Hodges Capital Management Inc. boosted its holdings in shares of Stitch Fix by 34.4% during the 3rd quarter. Hodges Capital Management Inc. now owns 3,375,200 shares of the company’s stock valued at $9,518,000 after purchasing an additional 864,100 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of Stitch Fix by 142.9% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,464,863 shares of the company’s stock valued at $10,624,000 after purchasing an additional 1,449,941 shares during the last quarter. 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.