Stitch Fix (NASDAQ:SFIX) Stock Rating Lowered by Wall Street Zen

Stitch Fix (NASDAQ:SFIX) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Sunday.

Separately, Telsey Advisory Group reissued a “market perform” rating and set a $6.00 target price on shares of Stitch Fix in a report on Wednesday, June 11th.

Stitch Fix Stock Performance

Shares of NASDAQ SFIX opened at $3.86 on Friday. The firm has a fifty day moving average of $3.89 and a 200 day moving average of $4.17. The firm has a market cap of $503.69 million, a PE ratio of -8.39 and a beta of 2.00. Stitch Fix has a one year low of $2.21 and a one year high of $6.99.

Stitch Fix (NASDAQ:SFIX) last released its earnings results on Wednesday, June 11th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.05. Stitch Fix had a negative net margin of 4.44% and a negative return on equity of 18.15%. During the same quarter in the previous year, the company earned ($0.18) earnings per share. The firm’s quarterly revenue was up .7% compared to the same quarter last year. On average, equities analysts predict that Stitch Fix will post -0.44 EPS for the current fiscal year.

Insider Transactions at Stitch Fix

In other Stitch Fix news, insider Casey O’connor sold 50,000 shares of the company’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $3.04, for a total value of $152,000.00. Following the completion of the sale, the insider now directly owns 575,755 shares in the company, valued at $1,750,295.20. This represents a 7.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Working Capital Advisors (Uk) sold 1,370,931 shares of the firm’s stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $4.68, for a total value of $6,415,957.08. Following the completion of the sale, the insider now directly owns 10,608,822 shares of the company’s stock, valued at $49,649,286.96. This trade represents a 11.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 16.95% of the company’s stock.

Institutional Investors Weigh In On Stitch Fix

A number of hedge funds have recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in Stitch Fix in the 4th quarter valued at about $29,000. Wescott Financial Advisory Group LLC purchased a new stake in shares of Stitch Fix during the 1st quarter valued at approximately $32,000. Bellecapital International Ltd. acquired a new position in Stitch Fix in the fourth quarter valued at approximately $55,000. Polymer Capital Management US LLC purchased a new position in Stitch Fix in the fourth quarter worth approximately $82,000. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Stitch Fix by 96.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 24,786 shares of the company’s stock worth $107,000 after acquiring an additional 12,177 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.