Stitch Fix, Inc. (NASDAQ:SFIX) Receives $3.96 Average Price Target from Analysts

Stitch Fix, Inc. (NASDAQ:SFIX) has earned a consensus rating of “Reduce” from the nine ratings firms that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $3.96.

SFIX has been the topic of a number of research analyst reports. Telsey Advisory Group boosted their price target on Stitch Fix from $4.00 to $6.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 11th. Canaccord Genuity Group boosted their target price on shares of Stitch Fix from $5.00 to $6.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. Finally, UBS Group boosted their target price on shares of Stitch Fix from $2.80 to $5.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th.

Stitch Fix Stock Down 2.6 %

Shares of Stitch Fix stock opened at $4.80 on Friday. The firm’s 50 day moving average price is $4.51 and its 200-day moving average price is $3.91. Stitch Fix has a 52-week low of $2.06 and a 52-week high of $6.99. The company has a market cap of $608.83 million, a P/E ratio of -5.78 and a beta of 1.99.

Stitch Fix (NASDAQ:SFIX) last released its quarterly earnings results on Tuesday, December 10th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.09. Stitch Fix had a negative net margin of 7.71% and a negative return on equity of 32.71%. The business had revenue of $318.82 million for the quarter, compared to analyst estimates of $306.88 million. During the same period in the previous year, the company earned ($0.30) earnings per share. The business’s revenue for the quarter was down 12.6% on a year-over-year basis. As a group, equities research analysts forecast that Stitch Fix will post -0.44 EPS for the current fiscal year.

Insider Transactions at Stitch Fix

In other news, insider Anthony Bacos sold 16,720 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $4.61, for a total transaction of $77,079.20. Following the sale, the insider now directly owns 913,962 shares of the company’s stock, valued at $4,213,364.82. This represents a 1.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Katrina Lake sold 725,002 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $5.78, for a total value of $4,190,511.56. The disclosure for this sale can be found here. Company insiders own 16.95% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Disciplined Growth Investors Inc. MN lifted its position in shares of Stitch Fix by 48.1% in the third quarter. Disciplined Growth Investors Inc. MN now owns 13,734,485 shares of the company’s stock valued at $38,731,000 after acquiring an additional 4,460,668 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Stitch Fix in the 3rd quarter valued at $2,862,000. Hodges Capital Management Inc. lifted its holdings in Stitch Fix by 34.4% in the 3rd quarter. Hodges Capital Management Inc. now owns 3,375,200 shares of the company’s stock valued at $9,518,000 after purchasing an additional 864,100 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Stitch Fix by 2,253.6% in the third quarter. Public Employees Retirement System of Ohio now owns 146,750 shares of the company’s stock worth $414,000 after buying an additional 140,515 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Stitch Fix by 32.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 499,142 shares of the company’s stock worth $1,408,000 after buying an additional 121,084 shares in the last quarter. 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.