Stitch Fix, Inc. (NASDAQ:SFIX) Stock Has Consensus Target Price of $3.40 According to Brokerages

Shares of Stitch Fix, Inc. (NASDAQ:SFIX) have been given an average recommendation of “Hold” by the eight ratings firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $3.40.

A number of research analysts have recently commented on SFIX shares. Weiss Ratings raised shares of Stitch Fix from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, October 9th. William Blair lowered shares of Stitch Fix from an “outperform” rating to a “market perform” rating in a report on Thursday, September 24th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $4.00 price target on shares of Stitch Fix in a report on Thursday, September 24th. Northland Securities set a $4.00 price objective on shares of Stitch Fix in a research report on Thursday, September 24th. Finally, UBS Group dropped their price objective on shares of Stitch Fix from $4.00 to $3.50 and set a “neutral” rating for the company in a research note on Thursday, September 24th.

Insiders Place Their Bets

In other Stitch Fix news, insider Anthony Bacos sold 70,000 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $4.09, for a total value of $286,300.00. Following the transaction, the insider directly owned 951,994 shares of the company’s stock, valued at approximately $3,893,655.46. The trade was a 6.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 16.09% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Counterpoint Mutual Funds LLC purchased a new position in shares of Stitch Fix during the third quarter valued at approximately $202,000. State of Alaska Department of Revenue raised its position in Stitch Fix by 679.6% in the 3rd quarter. State of Alaska Department of Revenue now owns 57,357 shares of the company’s stock valued at $146,000 after buying an additional 50,000 shares during the last quarter. State Street Corp raised its position in Stitch Fix by 10.1% in the 2nd quarter. State Street Corp now owns 3,503,504 shares of the company’s stock valued at $14,399,000 after buying an additional 322,030 shares during the last quarter. WINTON GROUP Ltd purchased a new stake in Stitch Fix in the 2nd quarter valued at $263,000. Finally, Allworth Financial LP raised its position in Stitch Fix by 44.4% in the 2nd quarter. Allworth Financial LP now owns 12,793 shares of the company’s stock valued at $53,000 after buying an additional 3,932 shares during the last quarter. Institutional investors own 71.04% of the company’s stock.

Stitch Fix Stock Down 7.2%

Stitch Fix stock opened at $2.58 on Thursday. Stitch Fix has a 12 month low of $2.10 and a 12 month high of $5.74. The stock’s 50 day moving average is $2.89 and its 200-day moving average is $3.43.

Stitch Fix (NASDAQ:SFIX) last released its quarterly earnings results on Wednesday, September 23rd. The company reported ($0.02) EPS for the quarter, beating the consensus estimate 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 prior year, the company posted ($0.07) earnings per share. Stitch Fix’s revenue was up 4.2% compared to the same quarter last year. Research analysts predict that Stitch Fix will post -0.15 earnings per share for the current fiscal year.

About Stitch Fix

Stitch Fix, Inc is an online personal styling company that uses data science, customer preferences and human expertise to recommend apparel and accessories. Customers complete a style profile and can receive personalized selections, known as “Fixes,” featuring clothing, shoes and accessories chosen for their individual preferences, sizes and budgets.

The company also operates Stitch Fix Freestyle, which allows customers to shop directly from a personalized online assortment rather than receiving a curated shipment.