Stitch Fix (NASDAQ:SFIX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Stitch Fix (NASDAQ:SFIX) from a hold rating to a buy rating in a research note published on Saturday.

Separately, Telsey Advisory Group reaffirmed a “market perform” rating and set a $6.00 price target on shares of Stitch Fix in a report on Wednesday, June 11th.

Stitch Fix Stock Performance

Shares of SFIX stock opened at $4.12 on Friday. Stitch Fix has a one year low of $2.21 and a one year high of $6.99. The company’s 50-day moving average is $3.81 and its 200 day moving average is $4.19. The company has a market capitalization of $530.64 million, a price-to-earnings ratio of -4.96 and a beta of 2.00.

Stitch Fix (NASDAQ:SFIX) last announced its quarterly earnings data on Wednesday, June 11th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.05. Stitch Fix had a negative net margin of 7.71% and a negative return on equity of 32.71%. During the same quarter in the prior year, the business posted ($0.18) EPS. The firm’s revenue was up .7% on a year-over-year basis. As a group, research analysts predict that Stitch Fix will post -0.44 earnings per share for the current fiscal year.

Insider Transactions at Stitch Fix

In other Stitch Fix news, major shareholder Working Capital Advisors (Uk) sold 1,370,931 shares of the firm’s stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $4.68, for a total transaction of $6,415,957.08. Following the sale, the insider now owns 10,608,822 shares in the company, valued at approximately $49,649,286.96. This trade represents a 11.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Casey O’connor sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $3.04, for a total transaction of $152,000.00. Following the sale, the insider now owns 575,755 shares in the company, valued at approximately $1,750,295.20. The trade was a 7.99% decrease in their position. The disclosure for this sale can be found here. Company insiders own 16.95% of the company’s stock.

Institutional Investors Weigh In On Stitch Fix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Focus Partners Wealth bought a new stake in shares of Stitch Fix during the fourth quarter valued at approximately $1,183,000. Ieq Capital LLC bought a new stake in shares of Stitch Fix during the fourth quarter valued at approximately $299,000. Geode Capital Management LLC raised its position in shares of Stitch Fix by 7.2% during the fourth quarter. Geode Capital Management LLC now owns 2,459,014 shares of the company’s stock valued at $10,601,000 after buying an additional 164,089 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Stitch Fix during the fourth quarter valued at approximately $661,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of Stitch Fix during the fourth quarter valued at approximately $353,000. 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.