Stitch Fix (NASDAQ:SFIX) Downgraded to “Hold” at BidaskClub

BidaskClub cut shares of Stitch Fix (NASDAQ:SFIX) from a buy rating to a hold rating in a report published on Friday morning, BidAskClub reports.

SFIX has been the topic of several other research reports. Canaccord Genuity started coverage on shares of Stitch Fix in a research report on Wednesday, June 17th. They set a buy rating and a $30.00 price target on the stock. Nomura Instinet upped their target price on shares of Stitch Fix from $18.00 to $27.00 and gave the stock a buy rating in a research note on Tuesday, June 9th. Wells Fargo & Co restated an equal weight rating and set a $14.00 target price (down from $29.00) on shares of Stitch Fix in a research note on Tuesday, March 10th. ValuEngine upgraded shares of Stitch Fix from a hold rating to a buy rating in a research note on Tuesday, June 9th. Finally, Goldman Sachs Group cut their target price on shares of Stitch Fix from $32.00 to $20.00 in a research note on Tuesday, March 10th. Eight research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $22.68.

Shares of SFIX opened at $23.01 on Friday. The stock has a market capitalization of $2.38 billion, a PE ratio of -153.39 and a beta of 2.97. Stitch Fix has a 1 year low of $10.90 and a 1 year high of $32.34. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.44 and a current ratio of 2.25. The company’s 50-day simple moving average is $22.69 and its 200-day simple moving average is $21.44.

Stitch Fix (NASDAQ:SFIX) last issued its quarterly earnings results on Monday, June 8th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by ($0.18). The business had revenue of $371.70 million for the quarter, compared to analyst estimates of $414.54 million. Stitch Fix had a negative return on equity of 3.71% and a negative net margin of 0.91%. The firm’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.07 EPS. On average, sell-side analysts predict that Stitch Fix will post -0.39 earnings per share for the current year.

In other news, insider Scott Darling sold 5,537 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $25.00, for a total transaction of $138,425.00. Following the transaction, the insider now directly owns 95,649 shares in the company, valued at $2,391,225. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director J William Gurley bought 1,000,000 shares of the stock in a transaction dated Thursday, April 9th. The shares were acquired at an average price of $15.80 per share, for a total transaction of $15,800,000.00. Following the completion of the transaction, the director now owns 944,507 shares of the company’s stock, valued at approximately $14,923,210.60. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 430,507 shares of company stock worth $9,818,248. Insiders own 47.52% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. First Trust Advisors LP raised its position in Stitch Fix by 25.4% during the 1st quarter. First Trust Advisors LP now owns 104,279 shares of the company’s stock worth $2,944,000 after buying an additional 21,153 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Stitch Fix by 65.8% during the fourth quarter. Victory Capital Management Inc. now owns 6,726 shares of the company’s stock worth $154,000 after acquiring an additional 2,670 shares during the period. Rhumbline Advisers increased its stake in shares of Stitch Fix by 10.6% during the fourth quarter. Rhumbline Advisers now owns 58,114 shares of the company’s stock worth $1,491,000 after acquiring an additional 5,562 shares during the period. Swiss National Bank increased its stake in shares of Stitch Fix by 15.1% during the fourth quarter. Swiss National Bank now owns 90,500 shares of the company’s stock worth $2,322,000 after acquiring an additional 11,900 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Stitch Fix by 6.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 211,582 shares of the company’s stock worth $5,430,000 after acquiring an additional 12,862 shares during the period. 43.45% of the stock is owned by hedge funds and other institutional investors.

Stitch Fix Company Profile

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.

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Analyst Recommendations for Stitch Fix (NASDAQ:SFIX)

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