Stitch Fix (SFIX) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of Stitch Fix (NASDAQ:SFIX) from a buy rating to a hold rating in a report published on Thursday.

According to Zacks, “Stitch Fix, Inc. provides an online subscription and personal shopping platform. The Company offers shirts, jackets, sweaters, blazers, leggings, vests, scarfs, jeans, loafers and boots for men and women. Stitch Fix, Inc. is based in San Francisco, United States. “

Several other equities research analysts have also weighed in on SFIX. Stifel Nicolaus lifted their price target on Stitch Fix from $26.00 to $30.00 and gave the company a hold rating in a research report on Tuesday, October 2nd. Wells Fargo & Co dropped coverage on Stitch Fix in a research report on Tuesday, October 2nd. Piper Jaffray Companies set a $31.00 price target on Stitch Fix and gave the company a hold rating in a research report on Tuesday, October 2nd. KeyCorp assumed coverage on Stitch Fix in a report on Tuesday, July 10th. They issued an overweight rating and a $38.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their target price on Stitch Fix to $36.00 and gave the stock a neutral rating in a report on Tuesday, September 25th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $33.18.

NASDAQ SFIX opened at $26.30 on Thursday. Stitch Fix has a twelve month low of $14.48 and a twelve month high of $52.44.

Stitch Fix (NASDAQ:SFIX) last released its quarterly earnings results on Monday, October 1st. The company reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.14. Stitch Fix had a return on equity of 15.39% and a net margin of 1.90%. The company had revenue of $318.30 million for the quarter, compared to analyst estimates of $318.93 million. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. On average, equities analysts predict that Stitch Fix will post 0.22 earnings per share for the current year.

In other Stitch Fix news, CFO Paul Yee sold 5,000 shares of the business’s stock in a transaction on Wednesday, October 3rd. The stock was sold at an average price of $29.48, for a total value of $147,400.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Mike C. Smith sold 25,000 shares of the business’s stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $32.69, for a total value of $817,250.00. The disclosure for this sale can be found here. Insiders sold 361,886 shares of company stock worth $12,620,150 over the last three months.

Several large investors have recently made changes to their positions in SFIX. Northern Trust Corp bought a new position in shares of Stitch Fix during the first quarter valued at $389,000. Russell Investments Group Ltd. bought a new position in shares of Stitch Fix during the first quarter valued at $533,000. Stifel Financial Corp bought a new position in shares of Stitch Fix during the first quarter valued at $477,000. Fiera Capital Corp bought a new position in shares of Stitch Fix during the first quarter valued at $1,014,000. Finally, Blair William & Co. IL bought a new position in shares of Stitch Fix during the first quarter valued at $1,458,000. 21.59% of the stock is currently owned by hedge funds and other institutional investors.

About Stitch Fix

Stitch Fix, Inc sells a range of apparel, shoes, and accessories through its Website and mobile app in the United States. It offers denim, dresses, blouses, skirts, shoes, jewelry, and handbags for men and women under the Stitch Fix brand. The company was formerly known as rack habit inc. and changed its name to Stitch Fix, Inc in October 2011.

Further Reading: Price to Earnings Ratio (PE), For Valuing Stocks

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