Stitch Fix (NASDAQ:SFIX) Stock Rating Raised to “Neutral” at Mizuho

Stitch Fix (NASDAQ:SFIX) was upgraded by stock analysts at Mizuho from an “underperform” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports. The firm presently has a $2.50 price target on the stock, down from their previous price target of $3.00. Mizuho’s price target would suggest a potential upside of 1.21% from the stock’s current price.

A number of other analysts also recently weighed in on the company. Sanford C. Bernstein restated a “market perform” rating and issued a $4.00 target price on shares of Stitch Fix in a research report on Thursday. William Blair cut shares of Stitch Fix from an “outperform” rating to a “market perform” rating in a research report on Thursday. Northland Securities set a $4.00 price target on shares of Stitch Fix in a research note on Thursday. Telsey Advisory Group cut their price objective on shares of Stitch Fix from $5.00 to $3.00 and set a “market perform” rating for the company in a research note on Thursday, September 24th. Finally, Weiss Ratings cut shares of Stitch Fix from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday. One research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Stitch Fix presently has an average rating of “Hold” and a consensus target price of $3.40.

Stitch Fix Stock Up 14.9%

NASDAQ SFIX opened at $2.47 on Tuesday. The stock’s 50-day simple moving average is $3.35 and its two-hundred day simple moving average is $3.51. Stitch Fix has a twelve month low of $2.10 and a twelve month high of $5.74. The company has a market capitalization of $329.57 million, a price-to-earnings ratio of -24.70 and a beta of 2.27.

Stitch Fix (NASDAQ:SFIX) last posted its quarterly earnings data on Wednesday, September 23rd. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.04. The firm had revenue of $324.42 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.07) EPS. On average, equities analysts expect that Stitch Fix will post -0.12 earnings per share for the current fiscal year.

Insider Transactions at Stitch Fix

In related news, CFO David Aufderhaar sold 67,960 shares of the firm’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 sale, the chief financial officer directly owned 1,102,369 shares of the company’s stock, valued at $4,177,978.51. This trade represents a 5.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 that occurred on Monday, August 3rd. The shares were sold at an average price of $4.09, for a total value of $286,300.00. Following the transaction, the insider directly owned 951,994 shares of the company’s stock, valued at $3,893,655.46. The trade was a 6.85% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 417,960 shares of company stock worth $1,591,068 in the last 90 days. Corporate insiders own 16.09% of the company’s stock.

Hedge Funds Weigh In On Stitch Fix

Hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp purchased a new position in shares of Stitch Fix during the second quarter valued at approximately $6,427,000. Landscape Capital Management L.L.C. grew its stake in shares of Stitch Fix by 49.0% in the 4th quarter. Landscape Capital Management L.L.C. now owns 1,230,124 shares of the company’s stock worth $6,458,000 after buying an additional 404,322 shares during the last quarter. State Street Corp grew its stake in shares of Stitch Fix by 10.1% in the 2nd quarter. State Street Corp now owns 3,503,504 shares of the company’s stock worth $14,399,000 after buying an additional 322,030 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in Stitch Fix during the 2nd quarter valued at approximately $738,000. Finally, Dimensional Fund Advisors LP increased its position in Stitch Fix by 6.3% during the 1st 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. 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.