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

Stitch Fix, Inc. (NASDAQ:SFIX) has received a consensus recommendation of “Reduce” from the eleven research firms that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation and nine have issued a hold recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $3.27.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Baader Bank Aktiengesellschaft acquired a new stake in Stitch Fix during the second quarter worth about $46,000. Pallas Capital Advisors LLC acquired a new stake in shares of Stitch Fix during the 2nd quarter worth approximately $48,000. CWM LLC increased its stake in Stitch Fix by 132.5% in the second 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. Allspring Global Investments Holdings LLC raised its position in Stitch Fix by 116.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 22,378 shares of the company’s stock valued at $59,000 after purchasing an additional 12,028 shares in the last quarter. Finally, Creative Planning raised its position in Stitch Fix by 32.1% during the third quarter. Creative Planning now owns 25,477 shares of the company’s stock valued at $72,000 after purchasing an additional 6,194 shares in the last quarter. Institutional investors and hedge funds own 71.04% of the company’s stock.

Stitch Fix Stock Performance

Shares of SFIX stock opened at $2.82 on Wednesday. Stitch Fix has a 52 week low of $2.06 and a 52 week high of $5.05. The company has a market capitalization of $357.69 million, a price-to-earnings ratio of -2.61 and a beta of 1.90. The company has a 50-day simple moving average of $3.38 and a 200 day simple moving average of $3.26.

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.