Stitch Fix (NASDAQ:SFIX) Shares Cross Above 50 Day Moving Average – Here’s What Happened

Stitch Fix, Inc. (NASDAQ:SFIX) crossed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $2.78 and traded as high as $2.90. Stitch Fix shares last traded at $2.79, with a volume of 1,712,608 shares changing hands.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. William Blair downgraded Stitch Fix from an “outperform” rating to a “market perform” rating in a research report on Thursday, September 24th. UBS Group reduced their price target on shares of Stitch Fix from $4.00 to $3.50 and set a “neutral” rating on the stock in a research report on Thursday, September 24th. Telsey Advisory Group reduced their price target on shares of Stitch Fix from $5.00 to $3.00 and set a “market perform” rating on the stock in a research report on Thursday, September 24th. Northland Securities set a $4.00 price target on shares of Stitch Fix in a research note on Thursday, September 24th. Finally, Mizuho upgraded shares of Stitch Fix from an “underperform” rating to a “neutral” rating and lowered their price objective for the stock from $3.00 to $2.50 in a report on Tuesday, September 29th. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $3.40.

Stitch Fix Trading Up 3.3%

The firm has a market cap of $372.74 million, a PE ratio of -27.90 and a beta of 2.34. The firm has a fifty day simple moving average of $2.78 and a two-hundred day simple moving average of $3.52.

Stitch Fix (NASDAQ:SFIX) last issued its quarterly earnings data on Wednesday, September 23rd. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.04. Stitch Fix had a negative net margin of 0.94% and a negative return on equity of 5.75%. The business had revenue of $324.42 million for the quarter, compared to the consensus estimate of $325.50 million. During the same period in the previous year, the firm earned ($0.07) EPS. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. Equities analysts expect that Stitch Fix, Inc. will post -0.15 earnings per share for the current fiscal year.

Institutional Trading of Stitch Fix

A number of hedge funds and other institutional investors have recently modified their holdings of SFIX. State Street Corp increased its stake in shares of Stitch Fix by 10.1% in the 2nd quarter. State Street Corp now owns 3,503,504 shares of the company’s stock worth $14,399,000 after acquiring an additional 322,030 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Stitch Fix by 6.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,418,196 shares of the company’s stock valued at $8,004,000 after acquiring an additional 142,909 shares during the period. Bank of New York Mellon Corp bought a new stake in Stitch Fix during the second quarter worth about $6,427,000. Ieq Capital LLC boosted its stake in Stitch Fix by 48.8% during the second quarter. Ieq Capital LLC now owns 394,095 shares of the company’s stock worth $1,620,000 after acquiring an additional 129,202 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in Stitch Fix during the second quarter worth about $738,000. 71.04% of the stock is owned by hedge funds and other institutional investors.

About Stitch Fix

Stitch Fix, Inc is an online personal styling company that uses data science, technology and human stylists to recommend apparel and accessories tailored to individual customers. Its service is designed to help consumers discover clothing through personalized selections based on their stated preferences, fit information, lifestyle and purchase history.

The company’s primary offering is its “Fix” experience, in which customers receive a curated shipment of merchandise selected by Stitch Fix and can keep the items they want while returning the rest.