Stitch Fix, Inc. (NASDAQ:SFIX) Receives Average Rating of “Reduce” from Brokerages

Shares of Stitch Fix, Inc. (NASDAQ:SFIX) have been assigned a consensus recommendation of “Reduce” from the twelve ratings firms that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation and ten have given a hold recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $3.16.

Several research analysts have recently commented on SFIX shares. Mizuho assumed coverage on Stitch Fix in a report on Tuesday, March 19th. They issued an “underperform” rating and a $2.00 target price on the stock. Piper Sandler cut their price target on Stitch Fix from $3.00 to $2.25 and set an “underweight” rating on the stock in a research note on Tuesday, March 5th. Canaccord Genuity Group cut their price target on Stitch Fix from $4.00 to $3.50 and set a “hold” rating on the stock in a research note on Tuesday, March 5th. Wells Fargo & Company cut their price target on Stitch Fix from $3.50 to $3.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 5th. Finally, Sanford C. Bernstein lowered their price objective on shares of Stitch Fix from $4.00 to $3.40 and set a “market perform” rating for the company in a research report on Tuesday, March 5th.

Stitch Fix Stock Up 0.5 %

Shares of SFIX opened at $2.16 on Wednesday. Stitch Fix has a 12-month low of $2.06 and a 12-month high of $5.20. The firm has a market capitalization of $259.57 million, a price-to-earnings ratio of -2.10 and a beta of 1.90. The stock’s 50-day moving average price is $2.57 and its 200 day moving average price is $3.17.

Stitch Fix (NASDAQ:SFIX) last released its quarterly earnings data on Monday, March 4th. The company reported ($0.21) earnings per share for the quarter, meeting the consensus estimate of ($0.21). Stitch Fix had a negative return on equity of 39.98% and a negative net margin of 8.29%. The company had revenue of $330.40 million for the quarter, compared to analyst estimates of $331.73 million. Equities research analysts expect that Stitch Fix will post -0.81 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Sarah Barkema sold 16,311 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $2.24, for a total transaction of $36,536.64. Following the completion of the transaction, the chief accounting officer now directly owns 138,535 shares in the company, valued at approximately $310,318.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 25.90% of the company’s stock.

Hedge Funds Weigh In On Stitch Fix

Large investors have recently modified their holdings of the business. New York State Teachers Retirement System acquired a new stake in Stitch Fix during the fourth quarter worth approximately $27,000. Lodestar Private Asset Management LLC bought a new position in Stitch Fix in the first quarter valued at approximately $29,000. Principal Financial Group Inc. bought a new position in Stitch Fix in the third quarter valued at approximately $38,000. Tower Research Capital LLC TRC increased its stake in Stitch Fix by 232.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,898 shares of the company’s stock valued at $39,000 after acquiring an additional 7,617 shares during the last quarter. Finally, 1900 Wealth Management LLC bought a new position in Stitch Fix in the third quarter valued at approximately $42,000. 71.04% of the stock is currently owned by institutional investors and hedge funds.

About Stitch Fix

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.