Telsey Advisory Group Reaffirms “Market Perform” Rating for Stitch Fix (NASDAQ:SFIX)

Stitch Fix (NASDAQ:SFIX)‘s stock had its “market perform” rating reissued by analysts at Telsey Advisory Group in a research report issued on Wednesday,Benzinga reports. They presently have a $6.00 price objective on the stock. Telsey Advisory Group’s price target would suggest a potential upside of 61.29% from the company’s previous close.

SFIX has been the topic of several other research reports. UBS Group increased their price objective on Stitch Fix from $2.80 to $5.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Canaccord Genuity Group lifted their price objective on Stitch Fix from $5.00 to $6.00 and gave the company a “hold” rating in a research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $4.50.

Stitch Fix Stock Performance

Shares of NASDAQ:SFIX opened at $3.72 on Wednesday. The stock has a market capitalization of $471.84 million, a price-to-earnings ratio of -4.48 and a beta of 2.13. Stitch Fix has a 1-year low of $2.06 and a 1-year high of $6.99. The company’s fifty day moving average is $4.85 and its two-hundred day moving average is $4.08.

Stitch Fix (NASDAQ:SFIX) last issued its quarterly earnings data on Tuesday, March 11th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.06. The business had revenue of $312.11 million during the quarter, compared to analyst estimates of $298.04 million. Stitch Fix had a negative return on equity of 32.71% and a negative net margin of 7.71%. The business’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.29) EPS. Sell-side analysts expect that Stitch Fix will post -0.44 EPS for the current fiscal year.

Institutional Investors Weigh In On Stitch Fix

Hedge funds have recently made changes to their positions in the stock. Disciplined Growth Investors Inc. MN lifted its position in shares of 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 worth $38,731,000 after acquiring an additional 4,460,668 shares during the period. Ieq Capital LLC acquired a new position in shares of Stitch Fix in the fourth quarter valued at $299,000. Hodges Capital Management Inc. lifted its position in Stitch Fix by 34.4% in 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. JPMorgan Chase & Co. boosted its stake in Stitch Fix by 72.7% during the third quarter. JPMorgan Chase & Co. now owns 161,225 shares of the company’s stock worth $455,000 after buying an additional 67,892 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its stake in Stitch Fix by 2,253.6% during the third quarter. Public Employees Retirement System of Ohio now owns 146,750 shares of the company’s stock worth $414,000 after buying an additional 140,515 shares in the last quarter. Institutional investors own 71.04% of the company’s stock.

Stitch Fix Company Profile

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.