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

Stitch Fix, Inc. (NASDAQ:SFIX) has earned an average rating of “Reduce” from the eleven ratings firms that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating and nine have issued a hold rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $3.45.

A number of equities research analysts recently issued reports on SFIX shares. Truist Financial boosted their price objective on Stitch Fix from $3.50 to $4.00 and gave the company a “hold” rating in a research note on Wednesday, June 5th. Mizuho upped their price target on Stitch Fix from $2.00 to $3.00 and gave the company an “underperform” rating in a research report on Monday, June 10th. Telsey Advisory Group reiterated a “market perform” rating and set a $4.00 price target on shares of Stitch Fix in a research report on Wednesday. Wedbush reiterated a “neutral” rating and set a $3.00 price target on shares of Stitch Fix in a research report on Wednesday, June 5th. Finally, UBS Group upped their price target on Stitch Fix from $2.80 to $3.80 and gave the company a “neutral” rating in a research report on Monday, July 8th.

Stitch Fix Stock Performance

Shares of Stitch Fix stock opened at $3.94 on Friday. Stitch Fix has a 52-week low of $2.06 and a 52-week high of $5.05. The stock’s 50-day simple moving average is $3.93 and its 200 day simple moving average is $3.21. The stock has a market capitalization of $482.02 million, a P/E ratio of -3.86 and a beta of 1.92.

Insider Buying and Selling

In related news, insider Anthony Bacos sold 42,381 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $4.13, for a total value of $175,033.53. Following the transaction, the insider now directly owns 627,957 shares in the company, valued at $2,593,462.41. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Stitch Fix news, CEO Matt Baer sold 44,230 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $5.00, for a total value of $221,150.00. Following the completion of the sale, the chief executive officer now owns 973,769 shares of the company’s stock, valued at $4,868,845. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Anthony Bacos sold 42,381 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $4.13, for a total value of $175,033.53. Following the completion of the sale, the insider now directly owns 627,957 shares of the company’s stock, valued at approximately $2,593,462.41. The disclosure for this sale can be found here. Over the last three months, insiders have sold 626,663 shares of company stock worth $3,101,692. Insiders own 25.90% of the company’s stock.

Institutional Trading of Stitch Fix

A number of institutional investors have recently made changes to their positions in SFIX. Victory Capital Management Inc. purchased a new stake in shares of Stitch Fix during the fourth quarter valued at approximately $42,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Stitch Fix by 5.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,021,885 shares of the company’s stock valued at $7,218,000 after purchasing an additional 99,914 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Stitch Fix during the fourth quarter valued at approximately $199,000. Oxford Asset Management LLP purchased a new stake in shares of Stitch Fix during the fourth quarter valued at approximately $176,000. Finally, ArchPoint Investors purchased a new stake in shares of Stitch Fix during the fourth quarter valued at approximately $68,000. Hedge funds and other institutional investors own 71.04% of the company’s stock.

Stitch Fix Company Profile

Stitch Fix, Inc sells a range of apparel, shoes, and accessories for men, women, and kids through its website and mobile application in the United States and the United Kingdom. It offers denim, dresses, blouses, skirts, shoes, jewelry, and handbags under the Stitch Fix brand. The company was formerly known as rack habit inc.