Stitch Fix (NASDAQ:SFIX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Stitch Fix (NASDAQ:SFIX) from a hold rating to a buy rating in a research report sent to investors on Saturday.

SFIX has been the topic of a number of other reports. Telsey Advisory Group reiterated a “market perform” rating and issued a $6.00 price target on shares of Stitch Fix in a research report on Monday, December 1st. UBS Group reiterated a “neutral” rating on shares of Stitch Fix in a research report on Wednesday, September 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Stitch Fix in a report on Wednesday, October 8th. Zacks Research cut shares of Stitch Fix from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 5th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and set a $6.00 price objective on shares of Stitch Fix in a report on Thursday, September 25th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Stitch Fix currently has a consensus rating of “Hold” and an average price target of $6.00.

Stitch Fix Stock Down 1.3%

NASDAQ:SFIX opened at $5.41 on Friday. The firm has a market capitalization of $725.54 million, a PE ratio of -33.81 and a beta of 2.22. Stitch Fix has a 12-month low of $2.60 and a 12-month high of $5.94. The firm has a 50-day moving average price of $4.43 and a 200 day moving average price of $4.61.

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

Insider Activity

In other Stitch Fix news, Director Katrina Lake sold 303,450 shares of the business’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $5.19, for a total transaction of $1,574,905.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Anthony Bacos sold 90,000 shares of the company’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $5.61, for a total transaction of $504,900.00. Following the transaction, the insider owned 799,966 shares in the company, valued at approximately $4,487,809.26. The trade was a 10.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 443,450 shares of company stock valued at $2,300,306 over the last 90 days. 16.09% of the stock is owned by company insiders.

Institutional Trading of Stitch Fix

Several institutional investors and hedge funds have recently made changes to their positions in the business. Wescott Financial Advisory Group LLC acquired a new position in shares of Stitch Fix in the 1st quarter valued at $32,000. State of Alaska Department of Revenue acquired a new position in Stitch Fix in the third quarter valued at about $32,000. First Dallas Securities Inc. bought a new position in Stitch Fix during the second quarter worth about $37,000. Ameritas Investment Partners Inc. grew its position in shares of Stitch Fix by 32.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 10,839 shares of the company’s stock worth $40,000 after buying an additional 2,645 shares during the period. Finally, 111 Capital acquired a new position in shares of Stitch Fix during the 2nd quarter worth about $44,000. 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.