Stitch Fix Inc (NASDAQ:SFIX) – Analysts at SunTrust Banks dropped their Q3 2020 earnings per share estimates for Stitch Fix in a research note issued to investors on Monday, December 9th. SunTrust Banks analyst Y. Squali now anticipates that the company will post earnings of ($0.07) per share for the quarter, down from their previous estimate of ($0.06). SunTrust Banks has a “Buy” rating and a $38.00 price objective on the stock. SunTrust Banks also issued estimates for Stitch Fix’s FY2020 earnings at $0.06 EPS.
Other research analysts have also issued research reports about the company. ValuEngine lowered Stitch Fix from a “hold” rating to a “sell” rating in a report on Wednesday. Wells Fargo & Co lifted their target price on Stitch Fix from $20.00 to $24.00 and gave the company a “market perform” rating in a report on Tuesday, November 12th. TheStreet raised Stitch Fix from a “d” rating to a “c” rating in a report on Monday, December 9th. DA Davidson started coverage on Stitch Fix in a report on Tuesday. They set a “neutral” rating and a $27.00 target price for the company. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $32.00 target price (up previously from $28.00) on shares of Stitch Fix in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. Stitch Fix presently has an average rating of “Hold” and an average target price of $29.69.
SFIX stock opened at $25.87 on Thursday. The company has a quick ratio of 1.99, a current ratio of 2.00 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $2.80 billion, a PE ratio of 71.86, a PEG ratio of 18.63 and a beta of 3.30. Stitch Fix has a twelve month low of $16.05 and a twelve month high of $37.72. The stock has a 50-day simple moving average of $23.39 and a two-hundred day simple moving average of $23.89.
Stitch Fix (NASDAQ:SFIX) last posted its earnings results on Tuesday, October 1st. The company reported $0.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.03. The business had revenue of $432.10 million during the quarter, compared to analyst estimates of $432.44 million. Stitch Fix had a return on equity of 6.79% and a net margin of 1.57%. The company’s quarterly revenue was up 35.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.18 EPS.
In other news, CEO Katrina Lake sold 100,000 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $20.98, for a total transaction of $2,098,000.00. Also, COO Mike C. Smith sold 15,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $21.22, for a total value of $318,300.00. Insiders have sold 378,167 shares of company stock valued at $8,718,140 in the last three months. 47.52% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Baillie Gifford & Co. grew its holdings in shares of Stitch Fix by 23.3% during the second quarter. Baillie Gifford & Co. now owns 4,488,246 shares of the company’s stock worth $143,580,000 after purchasing an additional 849,117 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Stitch Fix by 562.1% during the second quarter. BlackRock Inc. now owns 2,605,848 shares of the company’s stock worth $83,361,000 after purchasing an additional 2,212,289 shares in the last quarter. Steadfast Capital Management LP grew its holdings in shares of Stitch Fix by 16.3% during the second quarter. Steadfast Capital Management LP now owns 2,234,029 shares of the company’s stock worth $71,467,000 after purchasing an additional 313,296 shares in the last quarter. State Street Corp grew its holdings in shares of Stitch Fix by 7.2% during the third quarter. State Street Corp now owns 1,028,967 shares of the company’s stock worth $19,808,000 after purchasing an additional 69,428 shares in the last quarter. Finally, Brown Advisory Inc. grew its holdings in shares of Stitch Fix by 34.9% during the second quarter. Brown Advisory Inc. now owns 880,947 shares of the company’s stock worth $28,182,000 after purchasing an additional 227,919 shares in the last quarter. 41.77% of the stock is owned by institutional investors.
Stitch Fix Company Profile
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, women, and kids 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.
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