Stitch Fix (NASDAQ:SFIX) Issues Earnings Results, Meets Estimates

Stitch Fix (NASDAQ:SFIX) announced its quarterly earnings results on Thursday. The company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05), Zacks reports. Stitch Fix had a negative net margin of 2.27% and a negative return on equity of 14.57%. The company had revenue of $342.13 million for the quarter, compared to analyst estimates of $335.74 million. During the same period in the prior year, the firm posted ($0.03) earnings per share. The firm’s revenue was up 7.3% on a year-over-year basis.

Stitch Fix Trading Up 2.9%

NASDAQ:SFIX opened at $4.69 on Friday. Stitch Fix has a 12-month low of $2.60 and a 12-month high of $6.99. The stock’s 50 day simple moving average is $4.29 and its 200-day simple moving average is $4.56. The firm has a market cap of $628.98 million, a P/E ratio of -10.20 and a beta of 2.22.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SFIX. Zacks Research upgraded shares of Stitch Fix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Stitch Fix in a research report on Wednesday, October 8th. Sanford C. Bernstein restated a “market perform” rating and set a $6.00 price target on shares of Stitch Fix in a research note on Thursday, September 25th. UBS Group reaffirmed a “neutral” rating on shares of Stitch Fix in a research report on Wednesday, September 17th. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $6.00 price objective on shares of Stitch Fix in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Stitch Fix has a consensus rating of “Hold” and an average price target of $6.00.

Insider Buying and Selling at Stitch Fix

In other news, insider Casey O’connor sold 50,000 shares of Stitch Fix stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $4.41, for a total value of $220,500.00. Following the sale, the insider owned 431,441 shares of the company’s stock, valued at $1,902,654.81. The trade was a 10.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Anthony Bacos sold 90,000 shares of the business’s stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $5.61, for a total transaction of $504,900.00. Following the transaction, the insider owned 799,966 shares in the company, valued at approximately $4,487,809.26. This trade represents a 10.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 16.09% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SFIX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Stitch Fix by 7.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 61,270 shares of the company’s stock valued at $199,000 after acquiring an additional 3,993 shares during the period. Creative Planning purchased a new position in shares of Stitch Fix in the 2nd quarter valued at about $46,000. Rhumbline Advisers lifted its stake in shares of Stitch Fix by 8.4% in the second quarter. Rhumbline Advisers now owns 158,130 shares of the company’s stock valued at $585,000 after purchasing an additional 12,190 shares during the period. American Century Companies Inc. boosted its holdings in Stitch Fix by 5.5% during the second quarter. American Century Companies Inc. now owns 222,670 shares of the company’s stock worth $824,000 after buying an additional 11,611 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Stitch Fix during the 2nd quarter worth approximately $189,000. Institutional investors and hedge funds 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.