Brokerages Set Stitch Fix, Inc. (NASDAQ:SFIX) PT at $3.16

Shares of Stitch Fix, Inc. (NASDAQ:SFIX) have earned an average recommendation of “Reduce” from the twelve research firms that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation and ten have issued a hold recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $3.16.

SFIX has been the subject of several recent research reports. Canaccord Genuity Group cut their target price on shares of Stitch Fix from $4.00 to $3.50 and set a “hold” rating for the company in a research report on Tuesday, March 5th. Wells Fargo & Company dropped their target price on shares of Stitch Fix from $3.50 to $3.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 5th. Telsey Advisory Group restated a “market perform” rating and set a $4.00 target price on shares of Stitch Fix in a research report on Tuesday, March 5th. Sanford C. Bernstein lowered their price objective on shares of Stitch Fix from $4.00 to $3.40 and set a “market perform” rating for the company in a research report on Tuesday, March 5th. Finally, Truist Financial lowered their price objective on shares of Stitch Fix from $4.00 to $3.50 and set a “hold” rating for the company in a research report on Tuesday, March 5th.

Stitch Fix Stock Up 0.5 %

Shares of SFIX stock opened at $2.16 on Wednesday. The company has a 50 day moving average price of $2.57 and a 200-day moving average price of $3.17. Stitch Fix has a 52 week low of $2.06 and a 52 week high of $5.20. The firm has a market capitalization of $259.57 million, a PE ratio of -2.10 and a beta of 1.90.

Stitch Fix (NASDAQ:SFIX) last announced its quarterly earnings results on Monday, March 4th. The company reported ($0.21) EPS for the quarter, hitting analysts’ consensus estimates of ($0.21). The firm had revenue of $330.40 million during the quarter, compared to analyst estimates of $331.73 million. Stitch Fix had a negative net margin of 8.29% and a negative return on equity of 39.98%. Analysts anticipate that Stitch Fix will post -0.81 earnings per share for the current year.

Insider Buying and Selling at Stitch Fix

In other Stitch Fix news, CAO Sarah Barkema sold 16,311 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $2.24, for a total transaction of $36,536.64. Following the transaction, the chief accounting officer now owns 138,535 shares of the company’s stock, valued at approximately $310,318.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 25.90% of the company’s stock.

Institutional Trading of Stitch Fix

A number of institutional investors have recently modified their holdings of SFIX. Swiss National Bank raised its position in Stitch Fix by 2.4% during the 3rd quarter. Swiss National Bank now owns 155,400 shares of the company’s stock worth $536,000 after buying an additional 3,700 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Stitch Fix by 2.7% during the 4th quarter. Russell Investments Group Ltd. now owns 172,135 shares of the company’s stock valued at $615,000 after purchasing an additional 4,545 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Stitch Fix by 50.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,146 shares of the company’s stock valued at $61,000 after purchasing an additional 5,718 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Stitch Fix by 232.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,898 shares of the company’s stock valued at $39,000 after purchasing an additional 7,617 shares in the last quarter. Finally, New York State Teachers Retirement System purchased a new position in shares of Stitch Fix during the 4th quarter valued at approximately $27,000. 71.04% of the stock is currently owned by institutional investors.

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.