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

Stitch Fix, Inc. (NASDAQ:SFIX) has been assigned an average rating of “Reduce” from the five research firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $5.00.

Several equities research analysts recently issued reports on SFIX shares. William Blair reiterated a “mixed” rating on shares of Stitch Fix in a report on Friday, March 6th. Wall Street Zen cut Stitch Fix from a “buy” rating to a “hold” rating in a research note on Saturday, January 3rd. UBS Group cut their price objective on shares of Stitch Fix from $6.00 to $4.00 and set a “neutral” rating on the stock in a report on Tuesday, March 3rd. Telsey Advisory Group lowered their target price on shares of Stitch Fix from $6.00 to $5.00 and set a “market perform” rating for the company in a report on Thursday, March 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Stitch Fix in a research report on Thursday, January 22nd.

Stitch Fix Stock Performance

Shares of NASDAQ SFIX opened at $3.33 on Friday. The stock has a market cap of $454.61 million, a price-to-earnings ratio of -25.62 and a beta of 2.30. Stitch Fix has a fifty-two week low of $2.60 and a fifty-two week high of $5.94. The firm’s 50-day simple moving average is $3.88 and its 200 day simple moving average is $4.46.

Stitch Fix (NASDAQ:SFIX) last issued its quarterly earnings data on Wednesday, March 11th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.03. The firm had revenue of $341.30 million during the quarter, compared to analyst estimates of $334.74 million. Stitch Fix had a negative return on equity of 12.23% and a negative net margin of 1.89%.The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.05) EPS. On average, sell-side analysts predict that Stitch Fix will post -0.44 EPS for the current year.

Insider Buying and Selling at Stitch Fix

In other news, Director Katrina Lake sold 8,835 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $5.01, for a total value of $44,263.35. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Casey O’connor sold 19,347 shares of the company’s stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $5.68, for a total value of $109,890.96. Following the completion of the transaction, the insider directly owned 542,071 shares of the company’s stock, valued at approximately $3,078,963.28. This represents a 3.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 191,048 shares of company stock worth $1,003,739. Insiders own 16.09% of the company’s stock.

Institutional Trading of Stitch Fix

A number of hedge funds have recently bought and sold shares of the business. Working Capital Advisors UK Ltd. boosted its position in Stitch Fix by 15.9% in the third quarter. Working Capital Advisors UK Ltd. now owns 11,046,077 shares of the company’s stock worth $48,050,000 after purchasing an additional 1,512,475 shares during the last quarter. Fund 1 Investments LLC increased its position in shares of Stitch Fix by 44.6% during the 2nd quarter. Fund 1 Investments LLC now owns 9,943,821 shares of the company’s stock valued at $36,792,000 after purchasing an additional 3,064,901 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Stitch Fix by 3.2% during the 3rd quarter. Vanguard Group Inc. now owns 7,682,725 shares of the company’s stock valued at $33,420,000 after purchasing an additional 240,584 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Stitch Fix by 73.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,664,995 shares of the company’s stock worth $19,241,000 after purchasing an additional 1,549,902 shares during the period. Finally, State Street Corp raised its stake in shares of Stitch Fix by 18.6% during the 4th quarter. State Street Corp now owns 3,239,044 shares of the company’s stock worth $17,005,000 after purchasing an additional 508,588 shares during the period. 71.04% of the stock is currently owned by institutional investors.

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.