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

Shares of Stitch Fix, Inc. (NASDAQ:SFIX) have earned an average recommendation of “Hold” from the six brokerages that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $5.1250.

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

Insider Buying and Selling at Stitch Fix

In other news, CFO David Aufderhaar sold 67,960 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer owned 1,102,369 shares of the company’s stock, valued at $4,177,978.51. The trade was a 5.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Anthony Bacos sold 70,000 shares of the company’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $4.09, for a total value of $286,300.00. Following the completion of the sale, the insider owned 951,994 shares in the company, valued at $3,893,655.46. The trade was a 6.85% decrease in their position. 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. Over the last ninety days, insiders sold 727,971 shares of company stock worth $2,924,817. 16.09% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SFIX. HB Wealth Management LLC purchased a new stake in Stitch Fix in the 2nd quarter worth approximately $45,000. AXQ Capital LP acquired a new stake in shares of Stitch Fix during the 2nd quarter worth approximately $108,000. Public Employees Retirement System of Ohio purchased a new position in shares of Stitch Fix during the 2nd quarter valued at approximately $738,000. Corient Private Wealth LP purchased a new position in shares of Stitch Fix during the 2nd quarter valued at approximately $154,000. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Stitch Fix by 34.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 93,700 shares of the company’s stock valued at $385,000 after purchasing an additional 24,000 shares during the period. 71.04% of the stock is owned by institutional investors and hedge funds.

Stitch Fix Stock Performance

Shares of SFIX stock opened at $3.17 on Wednesday. The stock’s 50-day simple moving average is $3.85 and its 200-day simple moving average is $3.62. The firm has a market capitalization of $422.97 million, a PE ratio of -39.62 and a beta of 2.26. Stitch Fix has a fifty-two week low of $2.95 and a fifty-two week high of $5.94.

Stitch Fix (NASDAQ:SFIX) last announced its quarterly earnings data on Wednesday, June 10th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $340.28 million during the quarter, compared to analysts’ expectations of $333.51 million. During the same period last year, the business posted ($0.06) earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. Sell-side analysts forecast that Stitch Fix will post -0.14 earnings per share for the current year.

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.