Stitch Fix, Inc. (NASDAQ:SFIX) Receives Average Recommendation of “Reduce” from Analysts

Shares of Stitch Fix, Inc. (NASDAQ:SFIX) have earned an average recommendation of “Reduce” from the nine research firms that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation and seven have issued a hold recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $3.96.

A number of brokerages have recently commented on SFIX. Canaccord Genuity Group upped their price target on Stitch Fix from $5.00 to $6.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th. UBS Group upped their price target on Stitch Fix from $2.80 to $5.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Finally, Telsey Advisory Group boosted their price objective on Stitch Fix from $4.00 to $6.00 and gave the company a “market perform” rating in a research report on Wednesday, December 11th.

Stitch Fix Price Performance

Shares of SFIX stock opened at $5.13 on Tuesday. The stock has a market cap of $650.68 million, a PE ratio of -6.18 and a beta of 1.99. The stock has a 50-day moving average of $4.74 and a 200-day moving average of $4.01. Stitch Fix has a one year low of $2.06 and a one year high of $6.99.

Stitch Fix (NASDAQ:SFIX) last announced its quarterly earnings results on Tuesday, December 10th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.09. The company had revenue of $318.82 million during the quarter, compared to analysts’ expectations of $306.88 million. Stitch Fix had a negative return on equity of 32.71% and a negative net margin of 7.71%. Stitch Fix’s revenue was down 12.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.30) EPS. As a group, research analysts anticipate that Stitch Fix will post -0.44 earnings per share for the current year.

Insider Activity at Stitch Fix

In other Stitch Fix news, Director Katrina Lake sold 725,002 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $5.78, for a total transaction of $4,190,511.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Anthony Bacos sold 16,720 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $4.61, for a total value of $77,079.20. Following the transaction, the insider now directly owns 913,962 shares of the company’s stock, valued at approximately $4,213,364.82. This trade represents a 1.80 % decrease in their position. The disclosure for this sale can be found here. 16.95% of the stock is owned by insiders.

Hedge Funds Weigh In On Stitch Fix

A number of large investors have recently bought and sold shares of SFIX. Disciplined Growth Investors Inc. MN boosted its position in Stitch Fix by 48.1% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 13,734,485 shares of the company’s stock worth $38,731,000 after acquiring an additional 4,460,668 shares during the last quarter. Cooper Creek Partners Management LLC boosted its holdings in shares of 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. boosted its holdings in shares of Stitch Fix by 142.9% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,464,863 shares of the company’s stock valued at $10,624,000 after buying an additional 1,449,941 shares during the last quarter. Hodges Capital Management Inc. boosted its holdings in shares of Stitch Fix by 34.4% in the 3rd quarter. Hodges Capital Management Inc. now owns 3,375,200 shares of the company’s stock valued at $9,518,000 after buying an additional 864,100 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Stitch Fix in the 4th quarter valued at approximately $3,183,000. Institutional investors and hedge funds 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.