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

Shares of Stitch Fix, Inc. (NASDAQ:SFIX) have been given an average rating of “Hold” by the six ratings firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $5.1250.

Several research firms recently commented on SFIX. Wall Street Zen downgraded shares of Stitch Fix from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Northland Securities started coverage on shares of Stitch Fix in a research report on Thursday, May 28th. They issued an “outperform” rating and a $5.00 price objective for the company. UBS Group upped their target price on shares of Stitch Fix from $4.00 to $4.50 and gave the stock a “neutral” rating in a research note on Thursday, June 11th. Finally, Weiss Ratings raised shares of Stitch Fix from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 13th.

Stitch Fix Stock Down 3.6%

SFIX opened at $3.17 on Wednesday. The business has a fifty day moving average of $3.85 and a 200 day moving average of $3.62. The stock has a market cap of $422.97 million, a P/E ratio of -39.62 and a beta of 2.26. Stitch Fix has a 52-week low of $2.95 and a 52-week high of $5.94.

Stitch Fix (NASDAQ:SFIX) last released its earnings results on Wednesday, June 10th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.05. Stitch Fix had a negative return on equity of 9.35% and a negative net margin of 1.43%.The business had revenue of $340.28 million for the quarter, compared to analyst estimates of $333.51 million. During the same quarter last year, the firm posted ($0.06) earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. Equities analysts anticipate that Stitch Fix will post -0.14 EPS for the current fiscal year.

Insider Activity at Stitch Fix

In other Stitch Fix news, CFO David Aufderhaar sold 67,960 shares of the company’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $3.79, for a total value of $257,568.40. Following the completion of the sale, the chief financial officer directly owned 1,102,369 shares in the company, valued at approximately $4,177,978.51. This represents a 5.81% decrease in their position. 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. Also, insider Anthony Bacos sold 100,000 shares of the company’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $4.51, for a total value of $451,000.00. Following the completion of the sale, the insider owned 1,071,994 shares of the company’s stock, valued at $4,834,692.94. This represents a 8.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 727,971 shares of company stock worth $2,924,817. 16.09% of the stock is owned by insiders.

Institutional Trading of Stitch Fix

Several institutional investors and hedge funds have recently made changes to their positions in SFIX. Farther Finance Advisors LLC boosted its stake in Stitch Fix by 52.1% in the 4th quarter. Farther Finance Advisors LLC now owns 9,719 shares of the company’s stock worth $51,000 after purchasing an additional 3,329 shares in the last quarter. State of Wyoming increased its stake in Stitch Fix by 31.9% during the 4th quarter. State of Wyoming now owns 16,001 shares of the company’s stock valued at $84,000 after purchasing an additional 3,866 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Stitch Fix by 44.4% in the second quarter. Allworth Financial LP now owns 12,793 shares of the company’s stock worth $53,000 after buying an additional 3,932 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Stitch Fix by 7.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 61,270 shares of the company’s stock worth $199,000 after buying an additional 3,993 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Stitch Fix by 12.1% during the second quarter. The Manufacturers Life Insurance Company now owns 39,807 shares of the company’s stock worth $147,000 after buying an additional 4,303 shares during the period. 71.04% of the stock is currently owned by institutional investors.

Stitch Fix Company Profile

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.