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

Shares of Stitch Fix, Inc. (NASDAQ:SFIX) have earned an average recommendation of “Reduce” from the twelve analysts that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation and ten have issued a hold recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $3.16.

Several brokerages have weighed in on SFIX. UBS Group began coverage on Stitch Fix in a research report on Monday, April 8th. They issued a “neutral” rating and a $2.80 target price on the stock. Piper Sandler dropped their target price on Stitch Fix from $3.00 to $2.25 and set an “underweight” rating on the stock in a research report on Tuesday, March 5th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $4.00 target price on shares of Stitch Fix in a research report on Tuesday, March 5th. Wells Fargo & Company dropped their target price on Stitch Fix from $3.50 to $3.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 5th. Finally, Canaccord Genuity Group decreased their price target on Stitch Fix from $4.00 to $3.50 and set a “hold” rating for the company in a research note on Tuesday, March 5th.

Insider Buying and Selling at Stitch Fix

In other news, CAO Sarah Barkema sold 16,311 shares of Stitch Fix stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $2.24, for a total transaction of $36,536.64. Following the sale, the chief accounting officer now owns 138,535 shares of the company’s stock, valued at approximately $310,318.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 25.90% of the company’s stock.

Hedge Funds Weigh In On Stitch Fix

Hedge funds and other institutional investors have recently modified their holdings of the stock. New York State Teachers Retirement System bought a new position in shares of Stitch Fix during the 4th quarter worth approximately $27,000. Principal Financial Group Inc. bought a new position in Stitch Fix in the 3rd quarter valued at $38,000. Tower Research Capital LLC TRC raised its position in Stitch Fix by 232.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,898 shares of the company’s stock valued at $39,000 after purchasing an additional 7,617 shares during the last quarter. 1900 Wealth Management LLC bought a new position in Stitch Fix in the 3rd quarter valued at $42,000. Finally, Victory Capital Management Inc. bought a new position in Stitch Fix in the 4th quarter valued at $42,000. Institutional investors own 71.04% of the company’s stock.

Stitch Fix Trading Up 2.4 %

NASDAQ:SFIX opened at $2.17 on Wednesday. The firm has a market capitalization of $260.77 million, a price-to-earnings ratio of -2.11 and a beta of 1.90. Stitch Fix has a 1-year low of $2.06 and a 1-year high of $5.20. The business’s fifty day moving average price is $2.70 and its 200 day moving average price is $3.20.

Stitch Fix (NASDAQ:SFIX) last posted its quarterly earnings results on Monday, March 4th. The company reported ($0.21) earnings per share for the quarter, meeting the consensus estimate of ($0.21). The firm had revenue of $330.40 million for the quarter, compared to analyst estimates of $331.73 million. Stitch Fix had a negative return on equity of 39.98% and a negative net margin of 8.29%. Equities analysts forecast that Stitch Fix will post -0.81 earnings per share for the current year.

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.