Stitch Fix (NASDAQ:SFIX) Price Target Cut to $3.00 by Analysts at Barclays

Stitch Fix (NASDAQ:SFIX) had its price target decreased by equities researchers at Barclays from $4.00 to $3.00 in a report issued on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s target price indicates a potential downside of 1.64% from the company’s current price.

Separately, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $5.00 target price on shares of Stitch Fix in a research report on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating and twelve have given a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $4.89.

Stitch Fix Price Performance

Shares of NASDAQ:SFIX opened at $3.05 on Tuesday. The company has a market cap of $347.00 million, a price-to-earnings ratio of -1.41 and a beta of 2.24. Stitch Fix has a one year low of $2.63 and a one year high of $6.03. The firm has a fifty day moving average price of $4.12 and a two-hundred day moving average price of $4.10.

Stitch Fix (NASDAQ:SFIX) last announced its quarterly earnings data on Monday, September 18th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.03). The firm had revenue of $375.80 million for the quarter, compared to analysts’ expectations of $371.24 million. Stitch Fix had a negative net margin of 13.74% and a negative return on equity of 63.69%. The business’s quarterly revenue was down 22.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.65) earnings per share. Equities research analysts expect that Stitch Fix will post -1.18 EPS for the current fiscal year.

Insider Buying and Selling

In other Stitch Fix news, insider Casey O’connor sold 9,262 shares of the company’s stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $4.21, for a total value of $38,993.02. Following the sale, the insider now directly owns 284,346 shares of the company’s stock, valued at $1,197,096.66. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 28.51% of the stock is owned by company insiders.

Hedge Funds Weigh In On Stitch Fix

Large investors have recently bought and sold shares of the business. Virginia Retirement Systems ET AL acquired a new position in shares of Stitch Fix during the 2nd quarter worth approximately $608,000. Nuveen Asset Management LLC lifted its holdings in Stitch Fix by 77.0% during the second quarter. Nuveen Asset Management LLC now owns 1,788,068 shares of the company’s stock valued at $6,884,000 after purchasing an additional 778,110 shares in the last quarter. GTS Securities LLC acquired a new stake in shares of Stitch Fix in the second quarter valued at about $92,000. Alliancebernstein L.P. increased its stake in shares of Stitch Fix by 74.6% during the second quarter. Alliancebernstein L.P. now owns 127,928 shares of the company’s stock worth $493,000 after purchasing an additional 54,660 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Stitch Fix by 111.4% during the 2nd quarter. Wells Fargo & Company MN now owns 34,003 shares of the company’s stock worth $131,000 after purchasing an additional 17,919 shares during the last quarter. Institutional investors and hedge funds own 67.49% of the company’s stock.

Stitch Fix Company Profile

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.