Stitch Fix Inc (NASDAQ:SFIX) Receives Average Rating of “Hold” from Brokerages

Stitch Fix Inc (NASDAQ:SFIX) has received an average rating of “Hold” from the fifteen ratings firms that are covering the firm, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $36.00.

Several research firms have recently issued reports on SFIX. Zacks Investment Research cut Stitch Fix from a “buy” rating to a “hold” rating in a research note on Saturday, August 3rd. Stifel Nicolaus upgraded Stitch Fix from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a report on Monday, July 22nd. TheStreet upgraded Stitch Fix from a “d” rating to a “c-” rating in a report on Wednesday, June 26th. Royal Bank of Canada cut their price objective on Stitch Fix from $52.00 to $43.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. upped their price objective on Stitch Fix from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Thursday, June 6th.

SFIX traded down $1.28 during trading on Friday, reaching $22.25. 2,968,902 shares of the company were exchanged, compared to its average volume of 2,360,794. The firm has a market capitalization of $2.36 billion, a PE ratio of 57.05, a P/E/G ratio of 3.87 and a beta of 3.20. The business’s 50 day moving average price is $28.45. Stitch Fix has a 52 week low of $16.05 and a 52 week high of $52.44.

Stitch Fix (NASDAQ:SFIX) last released its quarterly earnings results on Wednesday, June 5th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.10. Stitch Fix had a return on equity of 13.77% and a net margin of 3.27%. The company had revenue of $409.00 million during the quarter, compared to analysts’ expectations of $395.06 million. During the same quarter in the prior year, the business posted $0.09 earnings per share. The company’s revenue for the quarter was up 29.1% compared to the same quarter last year. As a group, analysts forecast that Stitch Fix will post 0.32 earnings per share for the current year.

In other news, CEO Katrina Lake sold 100,000 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $23.36, for a total transaction of $2,336,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Scott Darling sold 2,000 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $29.23, for a total value of $58,460.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,030,037 shares of company stock valued at $29,669,407. 56.97% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. Weaver Consulting Group purchased a new stake in Stitch Fix in the 1st quarter worth about $28,000. Bell Rock Capital LLC purchased a new stake in Stitch Fix in the 2nd quarter worth about $51,000. Botty Investors LLC purchased a new stake in Stitch Fix in the 1st quarter worth about $61,000. Valeo Financial Advisors LLC lifted its stake in Stitch Fix by 30.3% in the 2nd quarter. Valeo Financial Advisors LLC now owns 2,159 shares of the company’s stock worth $69,000 after acquiring an additional 502 shares in the last quarter. Finally, Trustcore Financial Services LLC purchased a new stake in Stitch Fix in the 2nd quarter worth about $69,000. 29.34% of the stock is owned by hedge funds and other institutional investors.

About Stitch Fix

Stitch Fix, Inc sells a range of apparel, shoes, and accessories through its Website and mobile app in the United States. It offers denim, dresses, blouses, skirts, shoes, jewelry, and handbags for men, women, and kids under the Stitch Fix brand. The company was formerly known as rack habit inc. and changed its name to Stitch Fix, Inc in October 2011.

Read More: How a Put Option Works

Analyst Recommendations for Stitch Fix (NASDAQ:SFIX)

Receive News & Ratings for Stitch Fix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stitch Fix and related companies with MarketBeat.com's FREE daily email newsletter.