Stitch Fix, Inc. (NASDAQ:SFIX) Receives $4.50 Average PT from Analysts

Stitch Fix, Inc. (NASDAQ:SFIX) has earned a consensus recommendation of “Reduce” from the six ratings firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $4.50.

Separately, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $6.00 target price on shares of Stitch Fix in a research report on Wednesday, March 12th.

Stitch Fix Price Performance

Shares of SFIX opened at $3.61 on Friday. Stitch Fix has a 1 year low of $2.10 and a 1 year high of $6.99. The stock’s fifty day moving average price is $3.41 and its two-hundred day moving average price is $4.07. The firm has a market cap of $464.31 million, a PE ratio of -4.34 and a beta of 2.00.

Stitch Fix (NASDAQ:SFIX) last announced its quarterly earnings results on Tuesday, March 11th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.06. The company had revenue of $312.11 million for the quarter, compared to analysts’ expectations of $298.04 million. Stitch Fix had a negative net margin of 7.71% and a negative return on equity of 32.71%. Stitch Fix’s revenue was down 5.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.29) EPS. Sell-side analysts anticipate that Stitch Fix will post -0.44 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Casey O’connor sold 50,000 shares of Stitch Fix stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $3.04, for a total transaction of $152,000.00. Following the completion of the transaction, the insider now directly owns 575,755 shares of the company’s stock, valued at $1,750,295.20. This trade represents a 7.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 16.95% of the company’s stock.

Hedge Funds Weigh In On Stitch Fix

A number of institutional investors and hedge funds have recently made changes to their positions in SFIX. Geode Capital Management LLC grew its stake in shares of Stitch Fix by 3.8% in the 3rd 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. Barclays PLC raised its position in shares of Stitch Fix by 30.7% in the 3rd quarter. Barclays PLC now owns 168,953 shares of the company’s stock worth $475,000 after purchasing an additional 39,713 shares during the last quarter. Virtu Financial LLC bought a new position in Stitch Fix in the 3rd quarter worth about $196,000. JPMorgan Chase & Co. grew its position in Stitch Fix by 72.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 161,225 shares of the company’s stock valued at $455,000 after purchasing an additional 67,892 shares during the last quarter. Finally, Pallas Capital Advisors LLC bought a new stake in Stitch Fix during the 4th quarter valued at about $46,000. Institutional investors own 71.04% of the company’s stock.

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.