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

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

A number of other equities analysts have also recently issued reports on the company. Sanford C. Bernstein reiterated a “market perform” rating and set a $6.00 target price on shares of Stitch Fix in a report on Thursday, September 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Stitch Fix in a research report on Wednesday, October 8th. UBS Group reiterated a “neutral” rating on shares of Stitch Fix in a report on Wednesday, September 17th. Finally, Zacks Research upgraded Stitch Fix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 15th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Stitch Fix currently has a consensus rating of “Hold” and an average price target of $6.00.

Stitch Fix Stock Performance

NASDAQ SFIX opened at $4.56 on Monday. The stock has a market cap of $611.54 million, a price-to-earnings ratio of -9.91 and a beta of 2.22. The business has a 50 day simple moving average of $4.29 and a 200 day simple moving average of $4.56. Stitch Fix has a 52-week low of $2.60 and a 52-week high of $6.99.

Stitch Fix (NASDAQ:SFIX) last released its quarterly earnings results on Wednesday, September 24th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.03. Stitch Fix had a negative net margin of 2.27% and a negative return on equity of 14.57%. The company had revenue of $311.23 million during the quarter, compared to analysts’ expectations of $307.15 million. During the same quarter in the prior year, the company earned ($0.30) earnings per share. The business’s quarterly revenue was down 2.6% compared to the same quarter last year. On average, analysts predict that Stitch Fix will post -0.44 EPS for the current year.

Insider Activity at Stitch Fix

In other news, insider Casey O’connor sold 50,000 shares of the stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $4.41, for a total value of $220,500.00. Following the completion of the sale, the insider owned 431,441 shares of the company’s stock, valued at approximately $1,902,654.81. This represents a 10.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Anthony Bacos sold 90,000 shares of the firm’s stock in a transaction on Friday, September 19th. The shares were sold at an average price of $5.61, for a total transaction of $504,900.00. Following the completion of the transaction, the insider directly owned 799,966 shares of the company’s stock, valued at $4,487,809.26. This represents a 10.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 16.09% of the company’s stock.

Institutional Trading of Stitch Fix

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fund 1 Investments LLC grew its position in shares of Stitch Fix by 44.6% in the 2nd quarter. Fund 1 Investments LLC now owns 9,943,821 shares of the company’s stock valued at $36,792,000 after acquiring an additional 3,064,901 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in Stitch Fix by 302.9% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,897,171 shares of the company’s stock valued at $12,603,000 after purchasing an additional 2,178,156 shares during the last quarter. Marshall Wace LLP grew its holdings in Stitch Fix by 4,898.1% during the second quarter. Marshall Wace LLP now owns 2,010,034 shares of the company’s stock worth $7,437,000 after purchasing an additional 1,969,818 shares during the period. Working Capital Advisors UK Ltd. increased its position in Stitch Fix by 15.9% during the third quarter. Working Capital Advisors UK Ltd. now owns 11,046,077 shares of the company’s stock worth $48,050,000 after buying an additional 1,512,475 shares during the last quarter. Finally, Nuveen LLC acquired a new position in Stitch Fix during the first quarter worth approximately $4,159,000. 71.04% of the stock is owned by institutional investors.

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.