Stitch Fix, Inc. (NASDAQ:SFIX) Given Average Recommendation of “Reduce” by Analysts

Stitch Fix, Inc. (NASDAQ:SFIX) has been assigned a consensus rating of “Reduce” from the five ratings firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $5.00.

SFIX has been the subject of several research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Stitch Fix in a research report on Tuesday, April 21st. UBS Group cut their price objective on Stitch Fix from $6.00 to $4.00 and set a “neutral” rating for the company in a report on Tuesday, March 3rd. Wall Street Zen cut Stitch Fix from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Telsey Advisory Group dropped their price target on Stitch Fix from $6.00 to $5.00 and set a “market perform” rating on the stock in a research note on Thursday, March 12th. Finally, William Blair reiterated a “mixed” rating on shares of Stitch Fix in a research report on Friday, March 6th.

Stitch Fix Stock Performance

Stitch Fix stock opened at $3.06 on Monday. The business has a 50-day moving average of $3.42 and a 200-day moving average of $4.16. Stitch Fix has a 1 year low of $2.95 and a 1 year high of $5.94. The firm has a market capitalization of $417.75 million, a P/E ratio of -23.54 and a beta of 2.33.

Stitch Fix (NASDAQ:SFIX) last issued its quarterly earnings data on Wednesday, March 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.03. Stitch Fix had a negative return on equity of 12.23% and a negative net margin of 1.89%.The business had revenue of $341.30 million during the quarter, compared to analyst estimates of $334.74 million. During the same period in the previous year, the firm earned ($0.05) EPS. Stitch Fix’s quarterly revenue was up 9.4% compared to the same quarter last year. Research analysts anticipate that Stitch Fix will post -0.19 EPS for the current fiscal year.

Insider Buying and Selling at Stitch Fix

In other news, insider Casey O’connor sold 60,000 shares of the stock in a transaction on Friday, April 10th. The stock was sold at an average price of $3.08, for a total transaction of $184,800.00. Following the sale, the insider directly owned 480,334 shares of the company’s stock, valued at approximately $1,479,428.72. This represents a 11.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Aufderhaar sold 65,709 shares of the stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $3.09, for a total value of $203,040.81. Following the sale, the chief financial officer directly owned 1,178,037 shares in the company, valued at approximately $3,640,134.33. This trade represents a 5.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 16.09% of the company’s stock.

Institutional Trading of Stitch Fix

Several large investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its stake in Stitch Fix by 6.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,418,196 shares of the company’s stock valued at $8,004,000 after buying an additional 142,909 shares in the last quarter. Chicago Partners Investment Group LLC acquired a new position in shares of Stitch Fix in the first quarter worth approximately $47,000. Hsbc Holdings PLC lifted its stake in shares of Stitch Fix by 40.7% in the first quarter. Hsbc Holdings PLC now owns 66,913 shares of the company’s stock worth $224,000 after acquiring an additional 19,363 shares during the period. First Dallas Securities Inc. acquired a new position in shares of Stitch Fix in the first quarter worth approximately $38,000. Finally, Krilogy Financial LLC acquired a new position in shares of Stitch Fix in the first quarter worth approximately $46,000. 71.04% of the stock is owned by institutional investors and hedge funds.

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.