Stitch Fix’s (SFIX) Market Perform Rating Reiterated at Telsey Advisory Group

Telsey Advisory Group reissued their market perform rating on shares of Stitch Fix (NASDAQ:SFIX) in a research note released on Wednesday morning,Benzinga reports. They currently have a $6.00 price objective on the stock.

Stitch Fix Price Performance

Shares of NASDAQ:SFIX opened at $4.64 on Wednesday. Stitch Fix has a 1-year low of $2.21 and a 1-year high of $6.99. The company has a market capitalization of $597.62 million, a P/E ratio of -5.59 and a beta of 2.00. The firm’s 50 day simple moving average is $3.64 and its two-hundred day simple moving average is $4.20.

Stitch Fix (NASDAQ:SFIX) last issued its quarterly earnings results 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. Stitch Fix had a negative net margin of 7.71% and a negative return on equity of 32.71%. The business had revenue of $312.11 million for the quarter, compared to the consensus estimate of $298.04 million. During the same quarter in the previous year, the firm earned ($0.29) earnings per share. The company’s revenue for the quarter was down 5.5% on a year-over-year basis. On average, sell-side analysts anticipate that Stitch Fix will post -0.44 earnings per share for the current fiscal year.

Insider Buying and Selling at Stitch Fix

In other news, insider Casey O’connor sold 50,000 shares of Stitch Fix stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $3.04, for a total transaction of $152,000.00. Following the sale, the insider now owns 575,755 shares in the company, valued at $1,750,295.20. This trade represents a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 16.95% of the company’s stock.

Institutional Investors Weigh In On Stitch Fix

Several institutional investors and hedge funds have recently modified their holdings of the stock. Strs Ohio bought a new stake in shares of Stitch Fix during the first quarter valued at approximately $311,000. Acadian Asset Management LLC raised its position in shares of Stitch Fix by 533.5% during 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 during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Stitch Fix by 7.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 61,270 shares of the company’s stock valued at $199,000 after buying an additional 3,993 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of Stitch Fix by 6.9% during the first quarter. Jacobs Levy Equity Management Inc. now owns 2,635,207 shares of the company’s stock valued at $8,564,000 after buying an additional 170,344 shares during the last quarter. Finally, AlTi Global Inc. increased its position in Stitch Fix by 74.3% in the first quarter. AlTi Global Inc. now owns 51,506 shares of the company’s stock worth $167,000 after purchasing an additional 21,954 shares during the last quarter. Institutional investors own 71.04% of the company’s stock.

Stitch Fix Company Profile

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.