Stitch Fix’s (SFIX) “Market Perform” Rating Reaffirmed at Telsey Advisory Group

Stitch Fix (NASDAQ:SFIX)‘s stock had its “market perform” rating reiterated by equities research analysts at Telsey Advisory Group in a research report issued on Wednesday,Benzinga reports. They currently have a $6.00 target price on the stock. Telsey Advisory Group’s price target points to a potential upside of 25.52% from the stock’s current price.

Stitch Fix Price Performance

Shares of NASDAQ:SFIX opened at $4.78 on Wednesday. The firm has a market capitalization of $615.65 million, a PE ratio of -5.76 and a beta of 2.00. The firm’s 50-day moving average is $3.56 and its two-hundred day moving average is $4.18. Stitch Fix has a 1 year low of $2.21 and a 1 year high of $6.99.

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

Insider Activity at Stitch Fix

In other Stitch Fix news, insider Casey O’connor sold 50,000 shares of the business’s stock in a transaction on Monday, April 14th. The stock was 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 owns 575,755 shares in the company, valued at approximately $1,750,295.20. The trade was a 7.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 16.95% of the company’s stock.

Institutional Investors Weigh In On Stitch Fix

Several hedge funds have recently made changes to their positions in SFIX. Vanguard Group Inc. increased its stake in shares of Stitch Fix by 7.9% during the 1st quarter. Vanguard Group Inc. now owns 6,982,536 shares of the company’s stock worth $22,693,000 after purchasing an additional 513,422 shares during the last quarter. Cooper Creek Partners Management LLC grew its stake in Stitch Fix by 1,405.2% in the 4th quarter. Cooper Creek Partners Management LLC now owns 4,273,265 shares of the company’s stock valued at $18,418,000 after buying an additional 3,989,362 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in Stitch Fix by 6.9% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 2,635,207 shares of the company’s stock worth $8,564,000 after purchasing an additional 170,344 shares during the last quarter. Geode Capital Management LLC grew its position in Stitch Fix by 7.2% in the 4th quarter. Geode Capital Management LLC now owns 2,459,014 shares of the company’s stock worth $10,601,000 after purchasing an additional 164,089 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its position in Stitch Fix by 14.8% in the 4th quarter. Nuveen Asset Management LLC now owns 1,985,413 shares of the company’s stock worth $8,557,000 after purchasing an additional 255,508 shares during the last quarter. Hedge funds and other 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.