Stitch Fix Inc (NASDAQ:SFIX) Given Consensus Rating of “Buy” by Brokerages

Shares of Stitch Fix Inc (NASDAQ:SFIX) have been assigned a consensus rating of “Buy” from the twenty-three ratings firms that are covering the firm, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $22.68.

Several brokerages recently commented on SFIX. Piper Sandler lowered their price target on Stitch Fix from $15.00 to $11.00 and set a “neutral” rating for the company in a research note on Thursday, April 9th. KeyCorp boosted their price target on Stitch Fix from $18.00 to $28.00 and gave the company an “overweight” rating in a research note on Tuesday, June 9th. Stifel Nicolaus lowered their price target on Stitch Fix from $32.00 to $26.00 and set a “buy” rating for the company in a research note on Tuesday, March 10th. BMO Capital Markets lowered their price target on Stitch Fix from $24.00 to $15.00 in a research note on Tuesday, March 10th. Finally, Nomura Securities reissued a “buy” rating and issued a $18.00 price target on shares of Stitch Fix in a research note on Thursday, April 9th.

NASDAQ:SFIX traded up $1.66 on Wednesday, hitting $26.60. 2,876,318 shares of the company’s stock traded hands, compared to its average volume of 2,900,464. The company has a current ratio of 2.25, a quick ratio of 1.44 and a debt-to-equity ratio of 0.34. Stitch Fix has a 1 year low of $10.90 and a 1 year high of $31.65. The firm has a 50-day moving average price of $23.28 and a 200-day moving average price of $21.39. The company has a market cap of $2.56 billion, a PE ratio of -177.32 and a beta of 2.97.

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

In other Stitch Fix news, Director J William Gurley purchased 1,000,000 shares of the business’s stock in a transaction dated Thursday, April 9th. The stock was bought at an average cost of $15.80 per share, for a total transaction of $15,800,000.00. Following the completion of the acquisition, the director now directly owns 944,507 shares in the company, valued at $14,923,210.60. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Scott Darling sold 1,333 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $25.00, for a total value of $33,325.00. Following the transaction, the insider now owns 87,074 shares of the company’s stock, valued at $2,176,850. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 431,507 shares of company stock valued at $9,843,248. Corporate insiders own 47.52% of the company’s stock.

Several hedge funds have recently modified their holdings of SFIX. Edge Wealth Management LLC acquired a new position in shares of Stitch Fix during the first quarter worth approximately $26,000. C M Bidwell & Associates Ltd. bought a new stake in shares of Stitch Fix during the fourth quarter valued at approximately $32,000. HHM Wealth Advisors LLC bought a new stake in shares of Stitch Fix during the first quarter valued at approximately $39,000. Rockefeller Capital Management L.P. increased its position in shares of Stitch Fix by 285.7% during the first quarter. Rockefeller Capital Management L.P. now owns 4,050 shares of the company’s stock valued at $51,000 after purchasing an additional 3,000 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Stitch Fix by 70.1% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,694 shares of the company’s stock valued at $60,000 after purchasing an additional 1,934 shares during the period. Institutional investors own 43.45% of the company’s stock.

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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