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

Stitch Fix, Inc. (NASDAQ:SFIX) has received an average rating of “Reduce” from the nine analysts that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation and seven have issued a hold recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $3.96.

A number of research firms have recently issued reports on SFIX. Telsey Advisory Group boosted their price objective on Stitch Fix from $4.00 to $6.00 and gave the company a “market perform” rating in a research report on Wednesday, December 11th. UBS Group boosted their price objective on shares of Stitch Fix from $2.80 to $5.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Finally, Canaccord Genuity Group increased their price objective on shares of Stitch Fix from $5.00 to $6.00 and gave the company a “hold” rating in a report on Wednesday, December 11th.

Stitch Fix Stock Performance

Stitch Fix stock opened at $5.41 on Tuesday. The firm has a market cap of $686.20 million, a PE ratio of -6.52 and a beta of 1.99. Stitch Fix has a twelve month low of $2.06 and a twelve month high of $6.99. The firm’s 50 day moving average price is $4.69 and its two-hundred day moving average price is $3.95.

Stitch Fix (NASDAQ:SFIX) last released its quarterly earnings results on Tuesday, December 10th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.09. Stitch Fix had a negative return on equity of 32.71% and a negative net margin of 7.71%. The company had revenue of $318.82 million during the quarter, compared to the consensus estimate of $306.88 million. During the same quarter in the prior year, the company posted ($0.30) EPS. The firm’s revenue was down 12.6% on a year-over-year basis. Equities analysts anticipate that Stitch Fix will post -0.44 EPS for the current fiscal year.

Insider Activity at Stitch Fix

In other news, insider Anthony Bacos sold 16,720 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $4.61, for a total transaction of $77,079.20. Following the completion of the sale, the insider now owns 913,962 shares in the company, valued at approximately $4,213,364.82. This trade represents a 1.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Katrina Lake sold 725,002 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were 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 owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Disciplined Growth Investors Inc. MN raised its holdings in Stitch Fix by 48.1% in 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 acquiring an additional 4,460,668 shares in the last quarter. Cooper Creek Partners Management LLC increased its position in shares of Stitch Fix by 1,405.2% in the fourth quarter. Cooper Creek Partners Management LLC now owns 4,273,265 shares of the company’s stock worth $18,418,000 after purchasing an additional 3,989,362 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in Stitch Fix by 142.9% in the fourth 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 in the last quarter. Hodges Capital Management Inc. lifted its position in 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 purchasing an additional 864,100 shares during the period. Finally, Norges Bank bought a new stake in Stitch Fix during the fourth quarter worth about $3,183,000. 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.