Stitch Fix (NASDAQ:SFIX) Earns Market Perform Rating from Telsey Advisory Group

Stitch Fix (NASDAQ:SFIX)‘s stock had its “market perform” rating reiterated by research analysts at Telsey Advisory Group in a report issued on Wednesday,Benzinga reports. They currently have a $6.00 target price on the stock. Telsey Advisory Group’s price objective would indicate a potential upside of 88.68% from the stock’s current price.

A number of other research firms have also weighed in on SFIX. UBS Group cut their price objective on Stitch Fix from $6.00 to $4.00 and set a “neutral” rating on the stock in a research report on Tuesday. Zacks Research cut Stitch Fix from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Stitch Fix in a report on Thursday, January 22nd. Finally, Wall Street Zen lowered Stitch Fix from a “buy” rating to a “hold” rating in a research report on Saturday, January 3rd. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Stitch Fix has a consensus rating of “Hold” and a consensus target price of $5.33.

Stitch Fix Price Performance

Shares of NASDAQ SFIX traded up $0.01 during midday trading on Wednesday, hitting $3.18. The company’s stock had a trading volume of 1,449,408 shares, compared to its average volume of 2,042,089. The business’s fifty day simple moving average is $4.57 and its two-hundred day simple moving average is $4.71. Stitch Fix has a 1 year low of $2.60 and a 1 year high of $5.94. The firm has a market capitalization of $426.76 million, a price-to-earnings ratio of -19.88 and a beta of 2.30.

Stitch Fix (NASDAQ:SFIX) last announced its earnings results on Thursday, December 4th. The company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). The firm had revenue of $342.13 million for the quarter, compared to the consensus estimate of $335.74 million. Stitch Fix had a negative net margin of 2.23% and a negative return on equity of 14.38%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.03) EPS. Analysts anticipate that Stitch Fix will post -0.44 EPS for the current fiscal year.

Insider Buying and Selling at Stitch Fix

In other news, insider Casey O’connor sold 19,347 shares of the stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $5.68, for a total value of $109,890.96. Following the transaction, the insider owned 542,071 shares in the company, valued at approximately $3,078,963.28. This represents a 3.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Katrina Lake sold 8,835 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $5.01, for a total value of $44,263.35. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 494,498 shares of company stock worth $2,578,645 over the last ninety days. Corporate insiders own 16.09% of the company’s stock.

Institutional Trading of Stitch Fix

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Working Capital Advisors UK Ltd. grew its position in Stitch Fix by 15.9% during the 3rd quarter. Working Capital Advisors UK Ltd. now owns 11,046,077 shares of the company’s stock worth $48,050,000 after purchasing an additional 1,512,475 shares during the last quarter. Fund 1 Investments LLC boosted its stake in shares of Stitch Fix by 44.6% during the second quarter. Fund 1 Investments LLC now owns 9,943,821 shares of the company’s stock worth $36,792,000 after buying an additional 3,064,901 shares during the period. Vanguard Group Inc. grew its holdings in shares of Stitch Fix by 3.2% during the third quarter. Vanguard Group Inc. now owns 7,682,725 shares of the company’s stock worth $33,420,000 after buying an additional 240,584 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Stitch Fix by 73.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,664,995 shares of the company’s stock valued at $19,241,000 after acquiring an additional 1,549,902 shares during the period. Finally, State Street Corp raised its stake in Stitch Fix by 18.6% during the 4th quarter. State Street Corp now owns 3,239,044 shares of the company’s stock valued at $17,005,000 after acquiring an additional 508,588 shares during the last quarter. Institutional investors and hedge funds own 71.04% of the company’s stock.

About Stitch Fix

Stitch Fix, Inc, headquartered in San Francisco, California, is a leading online personal styling service that blends data science with human expertise to deliver curated clothing and accessory selections. Founded in 2011 by Katrina Lake, the company pioneered a subscription-based model in which customers receive periodic “Fixes” tailored to their personal style, size and budget. Each shipment arrives with several handpicked items along with styling notes, allowing clients to review, purchase and return pieces at their convenience.

Clients begin by completing an online style profile that captures their measurements, design preferences and lifestyle needs.