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

Shares of Stitch Fix, Inc. (NASDAQ:SFIX) have earned an average rating of “Reduce” from the five brokerages that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating and four have issued a hold rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $5.00.

Several equities analysts have issued reports on SFIX shares. William Blair reissued a “mixed” rating on shares of Stitch Fix in a research note on Friday, March 6th. Telsey Advisory Group dropped their price target on Stitch Fix from $6.00 to $5.00 and set a “market perform” rating on the stock in a research note on Thursday, March 12th. Wall Street Zen raised Stitch Fix from a “hold” rating to a “buy” rating in a research note on Saturday, April 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Stitch Fix in a research note on Thursday, January 22nd. Finally, UBS Group dropped their price target on Stitch Fix from $6.00 to $4.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 3rd.

Insider Buying and Selling at Stitch Fix

In other Stitch Fix news, CFO David Aufderhaar sold 65,709 shares of the business’s stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $3.09, for a total value of $203,040.81. Following the transaction, the chief financial officer directly owned 1,178,037 shares of the company’s stock, valued at approximately $3,640,134.33. The trade was a 5.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Casey O’connor sold 60,000 shares of the business’s stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $3.08, for a total value of $184,800.00. Following the completion of the transaction, the insider directly owned 480,334 shares in the company, valued at approximately $1,479,428.72. This trade represents a 11.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 153,891 shares of company stock valued at $541,995. 16.09% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Stitch Fix

A number of institutional investors have recently modified their holdings of SFIX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Stitch Fix by 7.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 61,270 shares of the company’s stock worth $199,000 after purchasing an additional 3,993 shares during the period. Creative Planning acquired a new position in shares of Stitch Fix during the second quarter worth approximately $46,000. Rhumbline Advisers raised its position in shares of Stitch Fix by 8.4% during the second quarter. Rhumbline Advisers now owns 158,130 shares of the company’s stock worth $585,000 after purchasing an additional 12,190 shares during the period. American Century Companies Inc. raised its position in shares of 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 purchasing an additional 11,611 shares during the period. Finally, Norges Bank acquired a new position in shares of Stitch Fix during the second quarter worth approximately $189,000. 71.04% of the stock is owned by institutional investors and hedge funds.

Stitch Fix Price Performance

Shares of SFIX stock opened at $3.99 on Thursday. Stitch Fix has a one year low of $2.95 and a one year high of $5.94. The business’s 50 day simple moving average is $3.38 and its 200 day simple moving average is $4.25. The stock has a market capitalization of $544.71 million, a PE ratio of -30.69 and a beta of 2.33.

Stitch Fix (NASDAQ:SFIX) last issued its quarterly earnings results on Wednesday, March 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.03. Stitch Fix had a negative return on equity of 12.23% and a negative net margin of 1.89%.The firm had revenue of $341.30 million for the quarter, compared to analyst estimates of $334.74 million. During the same period in the previous year, the firm earned ($0.05) earnings per share. The company’s revenue was up 9.4% compared to the same quarter last year. As a group, research analysts expect that Stitch Fix will post -0.19 earnings per share for the current year.

About Stitch Fix

Stitch Fix, Inc, headquartered in San Francisco, California, is a leading online personal styling service that blends data science with human expertise to deliver curated clothing and accessory selections. Founded in 2011 by Katrina Lake, the company pioneered a subscription-based model in which customers receive periodic “Fixes” tailored to their personal style, size and budget. Each shipment arrives with several handpicked items along with styling notes, allowing clients to review, purchase and return pieces at their convenience.

Clients begin by completing an online style profile that captures their measurements, design preferences and lifestyle needs.