Stitch Fix, Inc. (NASDAQ:SFIX) Receives Average Rating of “Reduce” from Brokerages

Shares of Stitch Fix, Inc. (NASDAQ:SFIX) have been assigned a consensus rating of “Reduce” from the nine ratings firms that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $3.96.

A number of equities research analysts have commented on the company. UBS Group upped their price target on Stitch Fix from $2.80 to $5.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Telsey Advisory Group upped their price target 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. Finally, Canaccord Genuity Group upped their price target on Stitch Fix from $5.00 to $6.00 and gave the company a “hold” rating in a research report on Wednesday, December 11th.

Stitch Fix Stock Down 7.0 %

Shares of SFIX stock opened at $5.02 on Tuesday. The firm has a market capitalization of $636.74 million, a P/E ratio of -6.05 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 stock’s fifty day simple moving average is $4.72 and its 200 day simple moving average is $3.99.

Stitch Fix (NASDAQ:SFIX) last issued its quarterly earnings data on Tuesday, December 10th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.09. The business had revenue of $318.82 million for the quarter, compared to analyst estimates of $306.88 million. Stitch Fix had a negative return on equity of 32.71% and a negative net margin of 7.71%. Stitch Fix’s quarterly revenue was down 12.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.30) EPS. As a group, equities research analysts expect that Stitch Fix will post -0.44 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Katrina Lake sold 725,002 shares of the company’s stock in a transaction that occurred 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Anthony Bacos sold 16,720 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $4.61, for a total value of $77,079.20. Following the transaction, the insider now directly owns 913,962 shares in the company, valued at approximately $4,213,364.82. This trade represents a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 16.95% of the stock is owned by company insiders.

Institutional Trading of Stitch Fix

Institutional investors and hedge funds have recently modified their holdings of the stock. Disciplined Growth Investors Inc. MN raised its stake in shares of Stitch Fix by 48.1% in the third quarter. Disciplined Growth Investors Inc. MN now owns 13,734,485 shares of the company’s stock worth $38,731,000 after purchasing an additional 4,460,668 shares during the last quarter. Hodges Capital Management Inc. raised its stake in shares of 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 last quarter. JPMorgan Chase & Co. raised its stake in shares of Stitch Fix by 72.7% in the third quarter. JPMorgan Chase & Co. now owns 161,225 shares of the company’s stock worth $455,000 after purchasing an additional 67,892 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Stitch Fix by 2,253.6% in the third quarter. Public Employees Retirement System of Ohio now owns 146,750 shares of the company’s stock worth $414,000 after purchasing an additional 140,515 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Stitch Fix by 32.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 499,142 shares of the company’s stock worth $1,408,000 after purchasing an additional 121,084 shares during the last quarter. 71.04% of the stock is owned by hedge funds and other institutional investors.

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.