Stitch Fix (NASDAQ:SFIX) Upgraded to Neutral at Mizuho

Stitch Fix (NASDAQ:SFIX) was upgraded by investment analysts at Mizuho from an “underperform” rating to a “neutral” rating in a report issued on Tuesday, Marketbeat Ratings reports. The brokerage presently has a $2.50 price objective on the stock, down from their previous price objective of $3.00. Mizuho’s price target suggests a potential downside of 0.60% from the stock’s previous close.

SFIX has been the subject of several other research reports. UBS Group lowered their price target on shares of Stitch Fix from $4.00 to $3.50 and set a “neutral” rating for the company in a report on Thursday. Northland Securities set a $4.00 target price on shares of Stitch Fix in a research note on Thursday. William Blair lowered shares of Stitch Fix from an “outperform” rating to a “market perform” rating in a report on Thursday. Weiss Ratings lowered Stitch Fix from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday. Finally, Sanford C. Bernstein reissued a “market perform” rating and issued a $4.00 price objective on shares of Stitch Fix in a research note on Thursday. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Stitch Fix currently has a consensus rating of “Hold” and a consensus target price of $3.40.

Stitch Fix Stock Up 1.8%

Shares of SFIX traded up $0.04 during trading hours on Tuesday, hitting $2.52. The company had a trading volume of 296,674 shares, compared to its average volume of 2,107,585. The firm has a market cap of $335.58 million, a price-to-earnings ratio of -25.24 and a beta of 2.27. The business has a fifty day moving average of $3.35 and a 200-day moving average of $3.51. Stitch Fix has a 12 month low of $2.10 and a 12 month high of $5.74.

Stitch Fix (NASDAQ:SFIX) last issued its quarterly earnings data on Wednesday, September 23rd. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.04. The firm had revenue of $324.42 million for the quarter, compared to analyst estimates of $325.50 million. Stitch Fix had a negative return on equity of 5.75% and a negative net margin of 0.94%.The company’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.07) EPS. On average, equities analysts expect that Stitch Fix will post -0.12 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO David Aufderhaar sold 67,960 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $4,177,978.51. This represents a 5.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Anthony Bacos sold 70,000 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $4.09, for a total transaction of $286,300.00. Following the transaction, the insider owned 951,994 shares in the company, valued at approximately $3,893,655.46. This trade represents a 6.85% 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. Insiders have sold a total of 417,960 shares of company stock valued at $1,591,068 over the last three months. Corporate insiders own 16.09% of the company’s stock.

Institutional Trading of Stitch Fix

Institutional investors and hedge funds have recently modified their holdings of the business. Quantbot Technologies LP purchased a new position in Stitch Fix in the second quarter worth $37,000. Caerus Investment Advisors LLC purchased a new position in shares of Stitch Fix in the 1st quarter worth about $36,000. HB Wealth Management LLC bought a new position in Stitch Fix during the second quarter valued at about $45,000. First Dallas Securities Inc. bought a new position in Stitch Fix during the first quarter valued at about $38,000. Finally, Hennion & Walsh Asset Management Inc. purchased a new stake in Stitch Fix during the second quarter worth about $48,000. 71.04% of the stock is owned by hedge funds and other institutional investors.

Stitch Fix Company Profile

Stitch Fix, Inc is an online personal styling company that uses data science, personalization technology and human stylists to recommend apparel and accessories to customers. Its offerings include clothing, shoes and accessories across categories such as women’s, men’s and children’s apparel, with selections tailored to individual preferences, sizes, budgets and lifestyles.

The company’s primary service, traditionally known as a “Fix,” delivers a curated selection of items for customers to try at home, after which they can purchase the items they want and return the rest.