Stitch Fix (NASDAQ:SFIX) Rating Lowered to Hold at Wall Street Zen

Stitch Fix (NASDAQ:SFIX) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

Several other analysts have also recently weighed in on the stock. Telsey Advisory Group reiterated a “market perform” rating and issued a $6.00 price target on shares of Stitch Fix in a report on Monday, December 1st. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $6.00 target price on shares of Stitch Fix in a research report on Thursday, September 25th. Zacks Research lowered shares of Stitch Fix from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Stitch Fix in a research report on Wednesday, October 8th. Finally, UBS Group restated a “neutral” rating on shares of Stitch Fix in a report on Wednesday, September 17th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $6.00.

Stitch Fix Price Performance

NASDAQ SFIX opened at $5.12 on Friday. Stitch Fix has a 1 year low of $2.60 and a 1 year high of $5.94. The stock has a market capitalization of $687.10 million, a PE ratio of -32.00 and a beta of 2.10. The business’s 50-day moving average is $4.69 and its 200 day moving average is $4.70.

Stitch Fix (NASDAQ:SFIX) last released its quarterly earnings results on Thursday, December 4th. The company reported ($0.05) EPS for the quarter, meeting analysts’ consensus estimates of ($0.05). The business had revenue of $342.13 million during the quarter, compared to analyst estimates of $335.74 million. Stitch Fix had a negative return on equity of 14.38% and a negative net margin of 2.23%.Stitch Fix’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.03) EPS. As a group, equities research analysts anticipate that Stitch Fix will post -0.44 earnings per share for the current year.

Insider Activity

In other Stitch Fix news, Director Katrina Lake sold 303,450 shares of the company’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $5.19, for a total value of $1,574,905.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Casey O’connor sold 50,000 shares of Stitch Fix stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $4.41, for a total transaction of $220,500.00. Following the transaction, the insider owned 431,441 shares of the company’s stock, valued at $1,902,654.81. The trade was a 10.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 16.09% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. boosted its holdings in Stitch Fix by 32.3% in the second quarter. Ameritas Investment Partners Inc. now owns 10,839 shares of the company’s stock worth $40,000 after acquiring an additional 2,645 shares in the last quarter. Wescott Financial Advisory Group LLC raised its position in shares of Stitch Fix by 30.0% in the 2nd quarter. Wescott Financial Advisory Group LLC now owns 13,000 shares of the company’s stock worth $48,000 after purchasing an additional 3,000 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Stitch Fix by 7.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 61,270 shares of the company’s stock worth $199,000 after purchasing an additional 3,993 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Stitch Fix by 12.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 39,807 shares of the company’s stock worth $147,000 after purchasing an additional 4,303 shares in the last quarter. Finally, State of Alaska Department of Revenue purchased a new stake in Stitch Fix during the 3rd quarter valued at about $32,000. Hedge funds and other institutional investors own 71.04% of the company’s stock.

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.