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

Stitch Fix, Inc. (NASDAQ:SFIX) has received an average recommendation of “Reduce” from the twelve brokerages that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation and ten have assigned a hold recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $3.45.

Several equities research analysts have commented on the stock. Canaccord Genuity Group upped their price target on shares of Stitch Fix from $3.50 to $4.50 and gave the company a “hold” rating in a report on Thursday, June 27th. Wedbush reaffirmed a “neutral” rating and issued a $3.00 price target on shares of Stitch Fix in a report on Wednesday, June 5th. Truist Financial upped their price target on shares of Stitch Fix from $3.50 to $4.00 and gave the company a “hold” rating in a report on Wednesday, June 5th. Mizuho increased their target price on shares of Stitch Fix from $2.00 to $3.00 and gave the stock an “underperform” rating in a research note on Monday, June 10th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $4.00 target price on shares of Stitch Fix in a research note on Thursday, May 30th.

Stitch Fix Price Performance

Shares of SFIX opened at $3.54 on Friday. The firm has a market capitalization of $433.09 million, a PE ratio of -3.47 and a beta of 1.97. Stitch Fix has a 1-year low of $2.06 and a 1-year high of $5.05. The company’s fifty day moving average price is $4.03 and its 200-day moving average price is $3.15.

Stitch Fix (NASDAQ:SFIX) last posted its quarterly earnings results on Tuesday, June 4th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.10. Stitch Fix had a negative net margin of 8.68% and a negative return on equity of 41.40%. The company had revenue of $322.73 million for the quarter, compared to analyst estimates of $305.93 million. As a group, research analysts anticipate that Stitch Fix will post -0.73 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Katrina Lake sold 537,007 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $5.01, for a total transaction of $2,690,405.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Stitch Fix news, CAO Sarah Barkema sold 30,000 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $3.74, for a total value of $112,200.00. Following the completion of the sale, the chief accounting officer now owns 108,535 shares in the company, valued at approximately $405,920.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Katrina Lake sold 537,007 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $5.01, for a total transaction of $2,690,405.07. The disclosure for this sale can be found here. Insiders sold a total of 656,663 shares of company stock worth $3,213,892 in the last 90 days. Insiders own 25.90% of the company’s stock.

Institutional Trading of Stitch Fix

Hedge funds and other institutional investors have recently made changes to their positions in the company. Hodges Capital Management Inc. acquired a new stake in shares of Stitch Fix during the 1st quarter worth approximately $1,716,000. Los Angeles Capital Management LLC acquired a new stake in shares of Stitch Fix during the 4th quarter worth approximately $239,000. SG Americas Securities LLC increased its holdings in shares of Stitch Fix by 32.5% during the 4th quarter. SG Americas Securities LLC now owns 35,548 shares of the company’s stock worth $127,000 after buying an additional 8,711 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Stitch Fix by 116.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 22,378 shares of the company’s stock worth $59,000 after buying an additional 12,028 shares during the last quarter. Finally, Victory Capital Management Inc. acquired a new stake in shares of Stitch Fix during the 4th quarter worth approximately $42,000. Institutional investors and hedge funds own 71.04% of the company’s stock.

About Stitch Fix

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.