Brokerages Set Stitch Fix, Inc. (NASDAQ:SFIX) Target Price at $6.00

Stitch Fix, Inc. (NASDAQ:SFIX) has earned an average recommendation of “Hold” from the six research firms that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $6.00.

SFIX has been the subject of a number of research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Stitch Fix in a research report on Wednesday, October 8th. Wall Street Zen cut Stitch Fix from a “buy” rating to a “hold” rating in a report on Saturday, January 3rd. Telsey Advisory Group restated a “market perform” rating and set a $6.00 price objective on shares of Stitch Fix in a research report on Monday, December 1st. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $6.00 price objective on shares of Stitch Fix in a research note on Thursday, September 25th. Finally, Zacks Research downgraded shares of Stitch Fix from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 5th.

Stitch Fix Stock Up 3.1%

Shares of SFIX opened at $5.32 on Tuesday. Stitch Fix has a 52-week low of $2.60 and a 52-week high of $5.94. The company has a 50-day simple moving average of $4.85 and a 200-day simple moving average of $4.77. The company has a market capitalization of $713.94 million, a PE ratio of -33.25 and a beta of 2.10.

Stitch Fix (NASDAQ:SFIX) last announced its earnings results on Thursday, December 4th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.05). Stitch Fix had a negative net margin of 2.23% and a negative return on equity of 14.38%. The company had revenue of $342.13 million during the quarter, compared to analysts’ expectations of $335.74 million. During the same quarter in the previous year, the business posted ($0.03) earnings per share. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, research analysts anticipate that Stitch Fix will post -0.44 EPS for the current year.

Insiders Place Their Bets

In other Stitch Fix news, Director Katrina Lake sold 303,450 shares of the company’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $5.19, for a total value of $1,574,905.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Casey O’connor sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $4.41, for a total transaction of $220,500.00. Following the completion of the sale, the insider directly owned 431,441 shares of the company’s stock, valued at $1,902,654.81. This represents a 10.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 16.09% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Stitch Fix

A number of hedge funds have recently modified their holdings of SFIX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Stitch Fix by 7.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 61,270 shares of the company’s stock valued at $199,000 after purchasing an additional 3,993 shares during the period. Acadian Asset Management LLC lifted its stake in Stitch Fix by 533.5% in the first quarter. Acadian Asset Management LLC now owns 369,069 shares of the company’s stock valued at $1,198,000 after buying an additional 310,810 shares in the last quarter. Strs Ohio bought a new position in Stitch Fix during the 1st quarter worth about $311,000. 111 Capital acquired a new stake in Stitch Fix in the 2nd quarter valued at approximately $44,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Stitch Fix by 23.0% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 938,473 shares of the company’s stock worth $3,472,000 after purchasing an additional 175,681 shares in the last quarter. 71.04% of the stock is owned by institutional investors and hedge funds.

About Stitch Fix

Stitch Fix, Inc, headquartered in San Francisco, California, is a leading online personal styling service that blends data science with human expertise to deliver curated clothing and accessory selections. Founded in 2011 by Katrina Lake, the company pioneered a subscription-based model in which customers receive periodic “Fixes” tailored to their personal style, size and budget. Each shipment arrives with several handpicked items along with styling notes, allowing clients to review, purchase and return pieces at their convenience.

Clients begin by completing an online style profile that captures their measurements, design preferences and lifestyle needs.