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

Stitch Fix, Inc. (NASDAQ:SFIX) has been assigned an average rating of “Reduce” from the twelve ratings firms that are covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation and ten have assigned a hold recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $3.45.

Several brokerages recently weighed in on SFIX. UBS Group increased their target price on Stitch Fix from $2.80 to $3.80 and gave the stock a “neutral” rating in a research report on Monday, July 8th. Canaccord Genuity Group raised their price objective on Stitch Fix from $3.50 to $4.50 and gave the stock a “hold” rating in a report on Thursday, June 27th. Mizuho boosted their target price on Stitch Fix from $2.00 to $3.00 and gave the stock an “underperform” rating in a report on Monday, June 10th. Wedbush restated a “neutral” rating and issued a $3.00 price target on shares of Stitch Fix in a report on Wednesday, June 5th. Finally, Truist Financial boosted their price objective on shares of Stitch Fix from $3.50 to $4.00 and gave the stock a “hold” rating in a research note on Wednesday, June 5th.

Insiders Place Their Bets

In other news, CAO Sarah Barkema sold 30,000 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $3.74, for a total transaction of $112,200.00. Following the completion of the sale, the chief accounting officer now directly owns 108,535 shares in the company, valued at $405,920.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Anthony Bacos sold 42,381 shares of the company’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $4.13, for a total value of $175,033.53. Following the sale, the insider now directly owns 627,957 shares of the company’s stock, valued at $2,593,462.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Sarah Barkema sold 30,000 shares of the stock in a transaction on Friday, June 7th. The shares were sold at an average price of $3.74, for a total transaction of $112,200.00. Following the transaction, the chief accounting officer now owns 108,535 shares in the company, valued at $405,920.90. The disclosure for this sale can be found here. Insiders have sold 75,385 shares of company stock worth $293,902 in the last quarter. 25.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Stitch Fix

Institutional investors have recently modified their holdings of the stock. Hodges Capital Management Inc. bought a new stake in Stitch Fix in the first quarter valued at about $1,716,000. Los Angeles Capital Management LLC bought a new stake in shares of Stitch Fix in the 4th quarter valued at approximately $239,000. SG Americas Securities LLC raised its position in shares of Stitch Fix by 32.5% during the 4th quarter. SG Americas Securities LLC now owns 35,548 shares of the company’s stock valued at $127,000 after acquiring an additional 8,711 shares in the last quarter. Victory Capital Management Inc. bought a new position in Stitch Fix during the fourth quarter worth $42,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Stitch Fix in the fourth quarter worth $199,000. Institutional investors and hedge funds own 71.04% of the company’s stock.

Stitch Fix Price Performance

NASDAQ SFIX opened at $4.76 on Monday. The company has a market cap of $582.34 million, a P/E ratio of -4.67 and a beta of 1.97. Stitch Fix has a 12 month low of $2.06 and a 12 month high of $5.20. The company has a 50-day moving average of $3.25 and a 200-day moving average of $3.02.

Stitch Fix (NASDAQ:SFIX) last issued its quarterly earnings results on Tuesday, June 4th. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.10. The firm had revenue of $322.73 million during the quarter, compared to analyst estimates of $305.93 million. Stitch Fix had a negative net margin of 8.68% and a negative return on equity of 41.40%. As a group, equities research analysts anticipate that Stitch Fix will post -0.73 EPS for the current year.

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.