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

Shares of Stitch Fix, Inc. (NASDAQ:SFIX) have been assigned an average rating of “Reduce” from the nine ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $3.96.

Several analysts have recently commented on the stock. Canaccord Genuity Group raised their price objective on shares of Stitch Fix from $5.00 to $6.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. UBS Group raised their price target on shares of Stitch Fix from $2.80 to $5.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Finally, Telsey Advisory Group upped their price objective on shares of Stitch Fix from $4.00 to $6.00 and gave the company a “market perform” rating in a report on Wednesday, December 11th.

Stitch Fix Stock Up 3.4 %

Shares of NASDAQ SFIX opened at $4.52 on Monday. The company has a market capitalization of $573.31 million, a PE ratio of -5.45 and a beta of 1.99. Stitch Fix has a twelve month low of $2.06 and a twelve month high of $6.99. The firm has a fifty day simple moving average of $4.08 and a 200 day simple moving average of $3.82.

Stitch Fix (NASDAQ:SFIX) last announced its quarterly earnings data on Tuesday, December 10th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.09. Stitch Fix had a negative return on equity of 32.71% and a negative net margin of 7.71%. The company had revenue of $318.82 million for the quarter, compared to the consensus estimate of $306.88 million. During the same period in the previous year, the business earned ($0.30) EPS. The firm’s revenue was down 12.6% compared to the same quarter last year. As a group, equities analysts expect that Stitch Fix will post -0.46 earnings per share for the current fiscal year.

Insider Activity

In other Stitch Fix news, insider Anthony Bacos sold 16,720 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $4.61, for a total value of $77,079.20. Following the completion of the sale, the insider now owns 913,962 shares in the company, valued at approximately $4,213,364.82. This trade represents a 1.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Katrina Lake sold 725,002 shares of Stitch Fix stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $5.78, for a total value of $4,190,511.56. The disclosure for this sale can be found here. Corporate insiders own 16.95% of the company’s stock.

Hedge Funds Weigh In On Stitch Fix

Institutional investors have recently added to or reduced their stakes in the stock. Disciplined Growth Investors Inc. MN boosted its stake in Stitch Fix by 48.1% in the third quarter. Disciplined Growth Investors Inc. MN now owns 13,734,485 shares of the company’s stock valued at $38,731,000 after acquiring an additional 4,460,668 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Stitch Fix by 11.7% in the second quarter. Renaissance Technologies LLC now owns 4,432,600 shares of the company’s stock valued at $18,395,000 after purchasing an additional 465,900 shares during the last quarter. Hodges Capital Management Inc. grew its holdings in Stitch Fix by 34.4% during the third quarter. Hodges Capital Management Inc. now owns 3,375,200 shares of the company’s stock valued at $9,518,000 after purchasing an additional 864,100 shares during the period. Geode Capital Management LLC increased its position in Stitch Fix by 3.8% in the third quarter. Geode Capital Management LLC now owns 2,294,925 shares of the company’s stock worth $6,473,000 after buying an additional 83,220 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new stake in shares of Stitch Fix in the third quarter valued at $2,862,000. Institutional investors own 71.04% of the company’s stock.

About Stitch Fix

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.