Stitch Fix (NASDAQ:SFIX) Now Covered by Northland Securities

Equities researchers at Northland Securities started coverage on shares of Stitch Fix (NASDAQ:SFIX) in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The firm set an “outperform” rating and a $5.00 price target on the stock. Northland Securities’ price target points to a potential upside of 37.55% from the company’s current price.

Several other brokerages also recently commented on SFIX. Weiss Ratings restated a “sell (d-)” rating on shares of Stitch Fix in a research report on Tuesday, April 21st. Telsey Advisory Group cut their price target on Stitch Fix from $6.00 to $5.00 and set a “market perform” rating for the company in a research note on Thursday, March 12th. William Blair reissued a “mixed” rating on shares of Stitch Fix in a report on Friday, March 6th. UBS Group lowered their price objective on Stitch Fix from $6.00 to $4.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 3rd. Finally, Wall Street Zen downgraded shares of Stitch Fix from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Stitch Fix has a consensus rating of “Hold” and an average target price of $5.00.

Stitch Fix Price Performance

Shares of NASDAQ:SFIX traded up $0.11 during mid-day trading on Thursday, reaching $3.64. 193,448 shares of the company traded hands, compared to its average volume of 2,042,644. The company’s 50 day moving average price is $3.42 and its 200-day moving average price is $4.11. The firm has a market cap of $496.25 million, a PE ratio of -28.15 and a beta of 2.33. Stitch Fix has a 52 week low of $2.95 and a 52 week high of $5.94.

Stitch Fix (NASDAQ:SFIX) last released its earnings results on Wednesday, March 11th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.03. The company had revenue of $341.30 million for the quarter, compared to analysts’ expectations of $334.74 million. Stitch Fix had a negative net margin of 1.89% and a negative return on equity of 12.23%. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the business earned ($0.05) EPS. On average, research analysts predict that Stitch Fix will post -0.19 earnings per share for the current fiscal year.

Insider Transactions at Stitch Fix

In related news, CFO David Aufderhaar sold 65,709 shares of Stitch Fix stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $3.09, for a total value of $203,040.81. Following the completion of the transaction, the chief financial officer owned 1,178,037 shares in the company, valued at approximately $3,640,134.33. This trade represents a 5.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 company’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 sale, the insider 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. Insiders own 16.09% of the company’s stock.

Hedge Funds Weigh In On Stitch Fix

Several large investors have recently modified their holdings of SFIX. Farther Finance Advisors LLC lifted its position in Stitch Fix by 52.1% in the fourth quarter. Farther Finance Advisors LLC now owns 9,719 shares of the company’s stock worth $51,000 after buying an additional 3,329 shares during the last quarter. Pallas Capital Advisors LLC increased its position in Stitch Fix by 32.2% during the fourth quarter. Pallas Capital Advisors LLC now owns 14,085 shares of the company’s stock valued at $74,000 after acquiring an additional 3,428 shares during the last quarter. State of Wyoming increased its position in Stitch Fix by 31.9% during the fourth quarter. State of Wyoming now owns 16,001 shares of the company’s stock valued at $84,000 after acquiring an additional 3,866 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of 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. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Stitch Fix by 12.1% in the second quarter. The Manufacturers Life Insurance Company now owns 39,807 shares of the company’s stock valued at $147,000 after acquiring an additional 4,303 shares during the period. Institutional investors own 71.04% of the company’s stock.

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.