Stitch Fix, Inc. (NASDAQ:SFIX) Given Average Rating of “Reduce” by Analysts

Shares of Stitch Fix, Inc. (NASDAQ:SFIX) have been given a consensus recommendation of “Reduce” by the six analysts that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $4.50.

SFIX has been the topic of a number of analyst reports. Telsey Advisory Group reaffirmed a “market perform” rating and set a $6.00 target price on shares of Stitch Fix in a research note on Wednesday. Canaccord Genuity Group upped 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. Finally, UBS Group upped their target price on Stitch Fix from $2.80 to $5.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th.

Stitch Fix Price Performance

Shares of NASDAQ SFIX opened at $3.83 on Friday. The business’s 50 day moving average is $4.84 and its two-hundred day moving average is $4.08. Stitch Fix has a 1-year low of $2.06 and a 1-year high of $6.99. The stock has a market capitalization of $485.79 million, a P/E ratio of -4.61 and a beta of 2.13.

Stitch Fix (NASDAQ:SFIX) last issued its quarterly earnings data on Tuesday, March 11th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.06. Stitch Fix had a negative return on equity of 32.71% and a negative net margin of 7.71%. The company had revenue of $312.11 million for the quarter, compared to analysts’ expectations of $298.04 million. During the same period in the previous year, the firm posted ($0.29) earnings per share. The firm’s revenue for the quarter was down 5.5% on a year-over-year basis. As a group, equities research analysts anticipate that Stitch Fix will post -0.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Rhumbline Advisers grew its stake in Stitch Fix by 1.5% in the fourth quarter. Rhumbline Advisers now owns 149,625 shares of the company’s stock worth $645,000 after purchasing an additional 2,255 shares in the last quarter. Corebridge Financial Inc. lifted its holdings in Stitch Fix by 4.8% during the fourth quarter. Corebridge Financial Inc. now owns 50,355 shares of the company’s stock worth $217,000 after buying an additional 2,295 shares during the period. Federated Hermes Inc. lifted its holdings in Stitch Fix by 4.1% during the fourth quarter. Federated Hermes Inc. now owns 96,504 shares of the company’s stock worth $416,000 after buying an additional 3,771 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Stitch Fix during the fourth quarter worth $29,000. Finally, Cerity Partners LLC lifted its holdings in Stitch Fix by 31.1% during the fourth quarter. Cerity Partners LLC now owns 29,452 shares of the company’s stock worth $124,000 after buying an additional 6,993 shares during the period. 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.