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

Stitch Fix, Inc. (NASDAQ:SFIX) has received a consensus recommendation of “Reduce” from the six research firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $4.50.

Several research analysts have issued reports on the company. Telsey Advisory Group reaffirmed a “market perform” rating and set a $6.00 price objective on shares of Stitch Fix in a report on Wednesday, March 12th. Canaccord Genuity Group upped their price objective on Stitch Fix from $5.00 to $6.00 and gave the stock a “hold” rating in a report on Wednesday, December 11th. Finally, UBS Group upped their price objective on Stitch Fix from $2.80 to $5.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th.

Stitch Fix Price Performance

Shares of SFIX opened at $3.60 on Friday. The company has a market capitalization of $456.62 million, a P/E ratio of -4.34 and a beta of 2.13. Stitch Fix has a one year low of $2.06 and a one year high of $6.99. The business’s 50 day simple moving average is $4.77 and its 200-day simple moving average is $4.08.

Stitch Fix (NASDAQ:SFIX) last announced its earnings results on Tuesday, March 11th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.06. The business had revenue of $312.11 million for the quarter, compared to the consensus estimate of $298.04 million. Stitch Fix had a negative return on equity of 32.71% and a negative net margin of 7.71%. Stitch Fix’s revenue was down 5.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.29) EPS. On average, sell-side analysts anticipate that Stitch Fix will post -0.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Stitch Fix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Stitch Fix by 96.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 24,786 shares of the company’s stock worth $107,000 after buying an additional 12,177 shares during the last quarter. Mackenzie Financial Corp bought a new position in shares of Stitch Fix in the 4th quarter valued at about $474,000. Public Employees Retirement System of Ohio grew its holdings in shares of Stitch Fix by 40.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 206,688 shares of the company’s stock valued at $891,000 after acquiring an additional 59,938 shares in the last quarter. Two Sigma Advisers LP grew its holdings in shares of Stitch Fix by 84.0% in the 4th quarter. Two Sigma Advisers LP now owns 682,900 shares of the company’s stock valued at $2,943,000 after acquiring an additional 311,800 shares in the last quarter. Finally, Two Sigma Investments LP grew its holdings in shares of Stitch Fix by 300.4% in the 4th quarter. Two Sigma Investments LP now owns 911,349 shares of the company’s stock valued at $3,928,000 after acquiring an additional 683,751 shares in the last quarter. 71.04% of the stock is owned by institutional investors and hedge funds.

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.